Is Traditional Banking Culture Holding Innovation Back?
"Banking isn’t just about numbers it’s about access. And the women who embrace AI today won’t just catch up they’ll build financial systems that leave no one behind."
In regions where many women still don’t have a bank account like Africa, India and parts of Latin America AI isn’t just enhancing banking, it’s leapfrogging it. These markets are embracing mobile-first solutions, decentralised finance and community-driven fintech to reach millions. Meanwhile, legacy institutions across the West remain mired in outdated infrastructure, regulatory gridlock and a culture of incrementalism that stifles progress.
While the Western banking system struggles with trust, bureaucracy and slowness, emerging markets are innovating out of necessity. For women in developed markets particularly women over 40 in leadership this creates a sharp pivot point. Do we maintain tradition or do we reimagine access, equity and value creation?
Across the globe, women are stepping into roles as fintech founders, ethical investors, digital inclusion advocates and mobile banking strategists. Women of colour, in particular, are leading micro-lending platforms and mobile-first savings apps that bypass legacy banking entirely solutions that are culturally resonant and community-aligned.
Deutsche Bank’s collaboration with Traxpay is a telling example. Their use of AI in supply chain finance has accelerated payment processes for SMEs, many of which are women-led. By integrating AI to analyse transaction risk and streamline compliance, they’ve cut waiting times and improved access to liquidity critical for women-owned businesses operating in volatile markets.
And that's not all.
According to the World Bank, over 1 billion women still lack access to formal financial services. Yet fintech is beginning to close that gap.
Post-COVID reports show that women adopted mobile wallets faster than men in several African countries. Platforms like M-Pesa (Kenya) and Paytm (India) are empowering women to save, transact and grow microenterprises without needing a traditional bank.
McKinsey’s 2023 Global Banking Report confirms the trend. Fintech is gaining traction fastest where women face the highest barriers. Trust, speed and digital literacy are driving uptake and women over 40 are increasingly playing the role of trusted guides, connectors and financial educators within their communities and workplaces.
This isn’t just about using fintech it’s about shaping it. Women in finance can:
Lead product development in inclusive digital banking
Partner with fintech start-ups in underserved markets
Create digital financial literacy programmes for other women
Become advocates for ethical AI in finance pushing back against algorithms trained on biased data
Leadership Exercise:
Identify one part of your own financial workflow that’s repetitive, time-consuming or disconnected from the end user how could AI improve it?
Research a mobile banking model in a market that’s leapfrogging the West (e.g. Nigeria, Kenya, Brazil). What values or features stand out and how can your institution adopt or learn from them?
Ladies, if we want to remain relevant, we must lead from where the world is going not from the comfort of legacy systems. The future of finance is fast, fluid and inclusive. And the women who thrive in it will be those who blend technology fluency with ethical courage, cultural insight and community-centred vision.
Like, comment, share this with a finance trailblazer and tag a woman who’s ready to disrupt the norm.
Who’s your accountability partner as you evolve?