Roxana Mohammadian-Molina, Chief Strategy Officer at Blend Network, discusses the Fintech-enabled solutions that are helping advance women’s financial health
The Covid-19 crisis has had a starkly different impact on women vs men, has highlighted the importance of focusing on women’s financial health and raised critically important choices.
As we emerge from the pandemic, Roxana Mohammadian-Molina, Chief Strategy Officer at tech-powered specialist real estate investment platform Blend Network, argues that Fintech-enabled personal finance solutions have unleashed a world of opportunities to help change the narrative around investing and help advance women’s financial health.
In the thirty years since the fabulous movie Working Girl hit our screens, much has changed for women’s gender parity in the workplace and outside. Movements such as #MeToo and #TimesUp have exposed the magnitude of the sexual violence faced by women, while campaigns such as #MeTooPay have uncovered discrepancies in salaries that have fuelled the fight for pay equality. Yet there is one area where the gender gap remains wide open and the taboo surrounding it lingers unchallenged: it is women’s financial health and well-being. Money management, financial ambitions and investing remain a sore subject among women.
According to a report by Merrill Lynch Bank of America, 61% of women would rather talk about their own death than about money. For many people, women especially, money is filled with emotional meaning. The presence of money can mean opportunity, security, status, acceptance and power. Its absence can mean the opposite. It also has emotional value: we see money as the means to protect our family and our children, to provide them with a future. No wonder it is such a loaded topic that we almost feel embarrassed to talk about it.
However, the advent of financial technology and innovations in the field of personal finance have created unprecedented opportunities for women to learn about different products, discuss with like-minded women, and start investing in financial products that work for them. For example, Fintech-enabled solutions like peer-to-peer property lending have unleashed new opportunities to help change the narrative around investing and advance women’s financial health since these solutions address four things women want from financial services: more confidence, added convenience, better communication, and greater collaboration.
Peer-to-peer property lending, the practice of lending money to experienced property developers through online services that match lenders directly with borrowers, allows investors browse through housing projects and invest any amount they feel comfortable with. In an interview we at Blend Network did with one …….