SheInvest is a service designed to empower rural women by improving their financial literacy and enabling them to make independent investment decisions. The service leverages a mobile app with features such as investment calculators, news alerts, personalized guidance, and a community-driven approach to build trust and confidence in financial management. By addressing gender biases and accessibility issues, SheInvest promotes financial independence among women in rural and low-income households.
Problem Solved
The project addresses significant barriers faced by rural women in achieving financial independence, including:
Lack of trust in financial tools and institutions.
Insufficient self-confidence in making financial decisions.
Misconceptions about investment requiring substantial capital.
Limited access to financial education and resources.
SheInvest provides a solution through accessible financial tools, personalized support, and community-driven investment opportunities tailored to the needs of rural women.
Process:
Research:
Conducted secondary research on women’s financial habits, literacy rates, and rural internet usage.
Designed and distributed surveys, collecting over 101 responses from diverse stakeholders.
Conducted 20 interviews with homemakers, financial professionals, educators, and students to understand challenges and expectations.
Insights and Ideation:
Identified key insights, such as the importance of trust in financial tools and the preference for women-led investment communities.
Created "how might we" statements to address challenges, such as building trust, enabling informed decisions, and making investments accessible.
Solution Development:
Designed the SheInvest app with features like voice navigation, multi-language support, and personalized investment buddy assistance.
Developed community-driven investment modules to foster peer trust and collaboration.
Crafted educational tools and tailored content to improve financial literacy.
Prototyping and Testing:
Tested prototypes with potential users, gathering feedback on functionality, accessibility, and relevance.
Iterated the app design based on feedback, ensuring it meets the specific needs of rural women.
Awareness and Outreach:
Created newspaper advertisements targeting rural areas to increase awareness.
Partnered with NGOs and women’s organizations to promote the app and provide workshops.
Key Features:
Financial Literacy Tools: Simplifies financial concepts through calculators, instructional content, and updates.
Personalized Investment Buddy: Offers 24/7 support for financial planning and decision-making.
Community-Driven Investments: Encourages women to invest in trusted groups, fostering collaboration.
Multi-Language Support & Voice Navigation: Ensures inclusivity and ease of use for diverse users.
Legal Awareness: Provides crucial information about women’s rights and financial laws.
Goals:
Equip women with the knowledge and tools to manage their finances independently.
Build trust in alternative investment methods.
Enable accessible and small-scale investments for rural women.
Promote gender equality through financial empowerment.
Impact Expected:
Improved Financial Literacy: Increased understanding of financial tools and investment opportunities among rural women.
Increased Participation in Investments: Empowered women to make small but strategic investments tailored to their goals.
Enhanced Accessibility: The app’s multi-language support and voice navigation remove barriers to entry for non-tech-savvy users.
Community Empowerment: Women gain confidence and solidarity through group investments and support networks.
Sustainable Economic Growth: Empowered women contribute to household and community development, fostering long-term economic benefits.
