Case Studies
Promoting Women’s Economic Empowerment:
The Learning Journey of Standard Chartered Bank
Company: Standard Chartered Bank
"Women who are economically empowered are an incredibly powerful source of development."
- Peter Sands, Group Chief Executive |
Introduction
Standard Chartered is one of the most internationally diverse banks, with over 70,000 employees and a presence in more than 70 countries. The bank has a strong focus on emerging markets. Since starting to think about a coordinated approach to addressing gender around 2005, it has developed an innovative set of initiatives for women in its workplace, in its communities and for its female customers. The bank views all three strands as important for leveraging the women's market and has quickly turned this view into a business imperative and key part of their customer strategy.
Main Lessons
- For women's banking products to work, they need to be tailored to different regional and country needs and specific cultural and legislative environments.
- Gender initatives are more likely to suceed if they are fully aligned with the company's business interests and strategy.
- Strong staff involvement can be crucial for ensuring internal support for diversity initiatives.
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Win-Win Situation for Business and for Women
- A global bank addressing gender issues in three strands –among customers, in the community, and in the workplace.
- Developed innovative banking products and specialized strategies for women clients, such as a Diva Account and Club in Africa. Eighty percent of beneficiaries in Standard Chartered's microfinance outreach are women.
- Empowering women through the community investment project Goal, which uses sports and life skills education to transform the lives of underprivileged girls.
- Promoting gender equality within the company through diversity and inclusion initiatives, including flexible work and leadership training for high-potential female employees.
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