<p><span>Good morning, and thank you, Raphael. I am delighted to participate in the 25th Financial Markets Conference, sponsored by the Federal Reserve Bank of Atlanta, which this year focuses on the role of central banks in fostering a resilient economy and financial system.</span></p>
Mind the gap Is fintech closing the gender gap in access to finance?
Equitable access to financial services: A policy prerogative
Fair and equitable access to financial services is a prerequisite for economic security and prosperity. It can improve individuals’ employment outcomes, wealth accumulation, and propensity to start a business. Yet, women all over the world remain unbanked or underbanked (Demirgüc-Kunt et al. 2017). Hopes are high that new financial technology – or “fintech” – can enhance financial inclusion and finally close the gender gap in access to financial services.
But does fintech help to close the gender gap? To find out, we looked at 27,000 adults in 28 major economies (Chen et al. 2021), who shared their use of and attitudes toward fintech products and services provided by fintech entrants and traditional financial institutions. The sample is representative along the age and gender distributions and contains detailed background information on the
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The European Central Bank (ECB) is the central bank of the 19 European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.