March 2022
Too often, human-centred [sic] design treats “man” as the proxy for human.
The gist:
Consider that “crash test dummies have sizes and weights representing the average male, which means that the seat belt doesn't take into account the frame of a woman, and the results are deadly.” Now consider the barriers that “might include laws and political systems that disadvantage women, harmful gender and social norms, and limited access to finance due to no credit history or collateral, male guarantor requirements, or restrictions on land ownership.” Think, “being denied a loan because of your husband’s debt, or because you can’t find a man to back your loan, as is still the case in parts of the world.”
How does one approach ‘woman centered design?’
It can be summarized as follows:
- Discover by understanding the needs, wants and barriers for women.
- Define and synthesize the top problems and opportunities.
- Ideate new ways to serve women.
- Test early ideas and concepts rapidly with women.
- Adapt and design new products and services that meet female customer’s needs.
- Launch and iterate products based on regular feedback.
In the case of CARE’s Ignite program “women entrepreneurs looking to grow their businesses by opening up much needed access to finance, technology and networks, and building entrepreneurship capacity and skills,” work with their “local partners to develop products and services which are tailored to their specific needs.”
Our job is to ensure that the voices of these women are heard in the boardroom, where key business decisions that impact the customer are made, typically, by men.
One such product that was developed, was a loan product designed exclusively for women. “The loan requires no credit history and includes an alternative credit assessment, based on references and behavior, and does not take into account their husbands' debt, unlike other products in the market. “
And while some might pause and say, no credit is risky, women themselves are de-risking that practice.
The Stats:
- Women have better non-performing loan (NPL) ratios: 3% compared to 4.9% for total SME portfolios according to an IFC assessment of 157 financial institutions.
- Enabling women to gain better access to finance could unlock $330 billion in annual global revenue.
Connect with the World Economic Forum post here.
