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Cash in on women

December 8, 2011

Financial institutions are acknowledging well known fact, that women manage household incomes. Prudential Research Study recently concluded 95% of women are the financial decision-makers. Marriage does not change a thing, since 84% of spouses are still either solely or jointly responsible for household finances. Today women are pinpointed as the primary decision-makers regarding long-term finances.

This notion has resulted in market segmentation of financial services. It all started in the third world with microloans dedicated solely to women, which scored much better in returns. Now it is increasingly influencing banking sector in the developed countries, from America and Canada, to the neighbouring Austria.

Not only the interior of the banks is becoming more female friendly, with lounge like designs or play areas to keep children occupied. Banks are also trying for more personalised approach, with employees taking extra time to explain products thoroughly and to establish trust with the customers.  It looks like due to the crisis, more and more banks are trying to cash in on women.

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From → Hic Salta

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  1. Women are better investors online | feminet

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