Women leaders open opportunity through inclusive finance, part two

Mona Kapoor, Senior Director, Digital Strategy and Transformation, Accion

When asked about the power of financial inclusion, Mona Kapoor says, “I believe that financial freedom comes from two aspects: the first is when you are really able to earn, and the second is when you really understand beyond just earning — it is about being able to invest, to transact, to understand.” While she believes that giving women digital financial tools can improve their lives, Mona wants digital products and services to go one step further and provide the education needed to make them more effective for women. As more and more women become breadwinners in their families, they need to be able to understand how financial products can meet their needs and help them reach new opportunities. “Women today are aspiring, they’re willing to commit, and to evolve,” she says.

Mona merges her deep experience in digital payments and transformation with her passion for microfinance — and the opportunities it can create for women — in her work at Accion. As Senior Director of Digital Strategy and Transformation for Accion Global Advisory Solutions, she supports Accion partners as they develop digital financial products that help people to build better futures and small businesses to grow.

From her own personal experience, Mona knows that strong support systems can help women overcome challenges and thrive. “Women can really succeed when they get support from their mothers, sisters, daughters, the other women around them because that’s where they’re able to correlate and find strength. If she can do it, I can do it too. And let’s do it together. Women can and will find strength amongst women.” And with that support system, women can make an impact in whatever path they choose: “Women shouldn’t be held back in our ideation and thinking. Today’s world is such that if you can think it, you can do it. We should fearlessly go out there, express ourselves, make suggestions, and just jump into execution knowing and believing in ourselves, that we can do it.”

Laura Hemrika, Global Head of Corporate Citizenship & Foundations, Credit Suisse

Laura Hemrika poses with the teller team of the Opportunity bank at Mathambi Village, Malawi.

“From an early age, I felt a responsibility to have a career that had a positive impact on others, that enabled, at least, opportunity and agency for those who didn’t have it. But I also knew that whatever it was, it had to make business sense. Financial inclusion is all that – and more. The younger, quietly rebellious me secretly also loved the smart, disruptive character of microfinance in the early days. I was hooked, but my commitment to financial inclusion was really cemented by clients early on in my financial inclusion career at Accion.” Laura Hemrika’s early drive to make a difference in the lives of other people has carried on throughout her career. She now leads Credit Suisse’s global social commitments to financial inclusion, financial education, future skills, and disaster relief. Credit Suisse is a longtime partner of Accion, and Laura’s team also leads Credit Suisse’s volunteer program where Credit Suisse employees can volunteer with organizations like Accion.

Laura believes that we must always focus first on the individual people that benefit from inclusive financial tools. “It is easy to lose sight of the fact that every transaction — every account — is a person, a life, a hope, a dream, but often, also a necessity. I remember meeting a female client who owned a small shop in the foothills of the Kilimanjaro and provided for her children and those of her brother who had died of AIDS several years before. Before starting her business, she had had to risk her life and her health to earn money for her family. Not out of ignorance — out of a lack of choice. Too often, millions of women and girls are still in situations or contexts where they are denied choice or opportunity. Access to well-designed financial services and financial education for them and their families can be such an important mechanism to overcome that. This is why Credit Suisse is committed to these two topics through our Financial Inclusion Initiative and our Financial Education for Girls Initiative.”

Laura is passionate about creating opportunities for other women, both through inclusive financial products and diversity in the workplace. “As women in leadership positions, we have a responsibility to continue creating opportunities for other women — whether our clients around the world or those in the organizations and sectors in which we work. Products and services, including technology, that specifically address the needs and interests of women are key, whether in crisis or not. Similarly, understanding the experience of women in companies and institutions is also key to ensure we develop and maintain a diverse employee base which in turn leads to better business decision-making.”

She encourages other women to be bold as they gain experience and grow in their careers. “To other women, I would say: dare to have an impact. Outside your comfort zone is where you will learn the most, so go for it. Strong professional skills are transferable, and our sector and our clients will only benefit from strong, talented female leaders.”