Turkey’s Women’s Financial Inclusion (WFI) story is one of great progress, made even more remarkable by the gains made within a relatively short period of time. In less than a decade, the nation has succeeded in reducing its gender gap by nearly half in access to formal financialservices. CCX’s analytical modeling conducted for this diagnostic
suggests that the nation will continue on this trajectory, and that the gender gap in
WFI will continue to shrink over the coming decade, dropping to about 22 percent
by 2030.
Further modeling has revealed the potential for $1.16 billion in additional annual FSP revenue by broadly expanding women’s market offerings and increasing women’s use of financial services Data analysis could generate valuable insights on women customer behaviors and the types of products that will attract them, enabling FSPs to take advantage of this market potential. But at present, this is not happening to the extent possible. Further complicating this situation is the lack of a uniform WSME definition, which makes it difficult to capture an accurate picture of this segment or understand more about the types of products and services that would resonate most strongly with these businesses. This report makes recommendations for addressing these challenges head on.