With New Digital Tools, Millions of Women Entrpeneurs Are Building Resilience - Seite 2

Together, we launched innovation hubs, rolled out savings tools and digital loans, reimagined microfinance lending using mobile apps and texting services and more. To ensure products were used, not merely accessible, we placed clients' needs at the heart of our work, applied human-centered design, incentivized usage and focused on improving clients' financial health.

Small businesses reported a range of benefits as they started using digital products. Perhaps most importantly, digital usage led to improved financial health, including the ability to repay loans on time, cover business expenses, and purchase sufficient inventory to meet demand. Across five countries, nearly 80 percent of digital product users said they could better manage these financial challenges.

Digital acceptance grew among women, who now account for more than 70 percent of these products' active users. Women entrepreneurs reported significant improvements in their financial health, with more than 70 percent reporting that digital tools contributed to this improvement. Compared to other products, digital wallets were most popular among women small business owners, with more than 80 reporting their quality of life had improved because of the new services it gave them access to.

What explains these results? The answer could be quite simple: digital tools save time. More than 75 percent of our digital wallet users said that saving time was the most important benefit they received from the products. For small business owners who juggle the needs of their customers while managing their households and providing for their families, time is scarce. Any time savings can be reinvested into their business to drive growth. In fact, digital product users reported improved growth activities, including increased sales revenues, hiring more employees, and starting new businesses.

"With the DeUna app, my business's sales have improved by about 35 percent because we have new customers and it's a secure and efficient app for my business."

Gloria Alejandrina Tisalema
SHOP OWNER, BANCO PICHINCHA CLIENT

In one example, we worked with BancoSol, Bolivia's largest microfinance provider serving 1.5 million clients, to develop a gamified savings tool that rewards users for making deposits and maintaining a minimum balance. Regularly using digital products is key to building financial health and literacy, and nearly 90 percent of small business clients attributed their usage of this product to their ability to resolve financial health challenges.

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