Empowering Women Through Digital Banking

Empowering Women Through Digital Banking

Women are switching to digital banking at record-high rates. Discover how digital banking makes it easier than ever to take charge of your finances, and how N26 can help.

NOVEMBER 25, 2021

4 min read

November 25 is the International Day for the Elimination of Violence Against Women, the perfect opportunity to celebrate empowerment, fight discrimination, and promote equality.Finance is largely still considered a male-dominated field, but here at N26, we’re dedicated to promoting the equal representation of women in the workplace and in finance—two essential battlefields in the fight for gender equality. Sadly, in many parts of the world, there are still prevalent stereotypes about women who are successful, invest, or are financially independent. But the truth is that no matter who you are, feeling comfortable with your finances is the first step to a comfortable, secure future.

More and more women are choosing digital banking

In 2020, for the second consecutive year, N26 recorded greater growth in female customers than male customers in all 24 European markets—over 57% growth among women compared to 46.5% among men. Not only that—research carried out by N26 in 2021 across major European countries and the USA showed that women are feeling positive about their financial independence. Across the markets surveyed, 59% of women said they felt financially independent, compared to 58% of men. In short, women are growing more and more confident in taking control of their own finances and testing out new, digital financial products.

The tools at your disposal with N26

Education is particularly important when talking about female empowerment, and the same is true when it comes to money. The first step toward financial independence is to gain a better understanding of finances in general, because this gives you the power to manage your own more effectively. We all deal with money differently, which is why N26 has designed an innovative, easy-to-use banking experience for our customers. Whether you want to reach your savings goals faster, understand your spending habits better, or optimize your finances by cutting down on wasted time and money—with N26, you’re always on right track.

Learn more about your spending

The best way to cultivate a healthy relationship with money? Recognize how and why you spend it. You can do this in many ways—for example, by keeping track of your expenses on an Excel sheet or using a budgeting app. Or, to simplify the process, use N26’s Statistics feature, which automatically categorizes your expenses and displays them in an interactive graph. This will give you a full overview of your expenses and a better understanding of what constitutes essential spending, and where you could cut back if you need to.

Savings strategies

Saving plays a key role in laying the foundations for your future, so it’s useful to plan your goals and save in a more targeted way. Dreaming of buying a car to get around the city better? Before you start saving, calculate how much you’ll need. Then start putting money away at regular intervals. Want to save for different goals or projects directly from your phone? Then you need to try Spaces from N26. With Spaces, you can create and customize unique sub-accounts dedicated to each of your savings goals and set aside the amount you want, whenever you choose. Spaces are fully customizable—you can even add an image, helping keep you motivated every day. Not only that—with the Rules or Round-Ups feature, you can automate this process, and reach your goal without even realizing it!

An account designed for you

An N26 account brings your bank to your smartphone, giving you all the banking features you love with no hidden fees. Make standard and instant bank transfers, pay bills, make deposits, use PagoPA, and set up direct debits for services or subscriptions. Plus, your account will have an Italian IBAN, and direct debits are 100% free. Plus, as an N26 customer, you’ll have access to exclusive offers from our partners to make your life easier. Find them listed in the “Explore” section of your N26 app, and check it regularly for all the latest offers.

A bank made for the modern woman

Taking charge of your finances and choosing the right money-management tools is an important step toward closing the gender gap when it comes to finances. And that’s where N26 comes in. Choose a banking experience that’s 100% digital and 100% empowering—open an account in minutes, and skip the paperwork and endless lines at the bank branch. Start managing your financial life directly from your smartphone. What are you waiting for? Find out which account fits you best by comparing our different plans.