Because financial products and services are too rarely tailored to specific needs, women represent the largest underserved customer group in the financial services industry. This is shown by the study on women in the financial industry "Women in Financial Services.. There are many reasons for this. For one thing, many women do not feel that the banks' product portfolios for savings and investments appeal to them. Secondly, women have different requirements and invest differently.
Migros Bank now wants to encourage women to take their financial future into their own hands. Under the hashtag #GeldIstFrauensache (#MoneyisWomen's Business), the bank publishes a wide variety of formats on its social media channels in which it allows a wide range of personalities to have their say on the subject. Among them are Stefan Büsser and Yaël Meier.
At Migros Bank, women and men alike are to receive simple instructions on how to invest, clear communication about investment products, and more support in taking their first steps in the financial markets. "Our goal is to provide convincing solutions for people who want to manage their money ideally. Together with ElleXX, we are once again one step closer to this goal," explains Rolf Knöpfel, Head of Innovation & Marketing at Migros Bank.
Cooperation with money platform ElleXX
The new money media platform for women ElleXX was recently founded by the two journalists Patrizia Laeri and Nadine Jürgensen and the creative designer Simone Züger. The platform aims to change the structurally caused financial inequality of women and at the same time empower women to financial independence and investment courage.
The financial product recently launched with Migros Bank is to be followed by other tailored products. "Unfortunately, the truth is that women have large gaps in their private financial lives: they live longer, earn less, do most of the unpaid work for the family and are usually only employed part-time. We want to encourage women to improve their financial situation," says Nadine Jürgensen.
ElleXX offers social and financial topics and focuses on equality and sustainability. A help section shows and explains the various gender financial gaps at a glance, offers checklists and explanatory videos in German and English.