Dutch women frequently report feeling misunderstood by their financial advisors, with services falling short of their unique needs. For instance, nearly three-quarters of women on tight budgets believe banks offer insufficient help in managing finances, compared to 40% of men in similar situations. These findings come from 'The Importance of Inclusivity in Financial Services,' a comprehensive study by ABN AMRO, McKinsey, and Better Future. This pioneering research—the first of its kind in the Netherlands—examines financial barriers women face across life stages, underscoring the need for truly accessible banking for all.
Globally, women often feel underserved by financial providers, representing a significant missed opportunity. Tailored advice could unlock over €611 billion in additional revenue worldwide. Yet, in major economies, two-thirds of women say advisors fail to grasp or adequately support their needs.
Dutch women encounter parallel challenges. ABN AMRO's study analyzed five focus groups—quantitatively and qualitatively—covering women with limited funds, high-income or wealthy women, female entrepreneurs, and young professionals. It reveals their motivations and financial hurdles at various life phases.
"Our research highlights that many women feel their banks and advisors don't fully understand them," says Chantal Korteweg, Director of Inclusive Banking at ABN AMRO. "We must adapt our services to women's needs across life stages through clearer communication, targeted products, and empathetic advisors who genuinely explore their goals." Barriers persist regardless of income: budget-constrained women feel more distant from banks than men, struggle to save, and often lack knowledge of products—only 27% trust banks to help with finances, savings, or pensions, versus 40% of men. Even affluent women (two-thirds) say services miss their needs, particularly family wealth protection, long-term investments, and sustainable options with social impact.
Despite rising numbers, Dutch female entrepreneurs hit financial roadblocks. Nearly 60% cite inadequate personal advice as a barrier to starting businesses (versus under 50% of men), contributing to lower startup rates (9% vs. 12.4%) and persistence beyond 3.5 years (three times less likely). Additionally, 69% struggle more with capital than men (59%), and over 40% seek role models, mentors, and targeted networking—more than men (about 33%).
"Achieving banking equality benefits society at large," Korteweg emphasizes. Aligning tight-budget women's outcomes with men's could add €14-30 billion annually to the economy. With barriers now clear, banks, governments, NGOs, and businesses must collaborate. Guided by our purpose—'Banking for better, for generations to come'—ABN AMRO prioritizes inclusive products. Women across groups seek simpler explanations and training for complex products; banks can deliver via clear communication and customized education, boosting women's opportunities and economic growth—a true win-win.
