Data Analytics to Make the Case for the Women's Market: VPBank, Vietnam
The Data Analytics to Make the Case for the Women's Market workshop highlighted how financial institutions can use existing customer data to quantify women’s product usage, recognize the untapped business opportunity women represent and make the case for serving and growing a women’s portfolio. Participants learned how teams from VPBank Vietnam and Andafin set out to test the hypothesis that "The women’s market represents a good opportunity for VPBank small and medium enterprises (SMEs); specifically, metrics such as profitability and retention of women-owned SMES (WSMEs) are equal to or greater than that of male-owned businesses."
VP Bank and Andafin analyzed customers’ usage of the VP Bank SME credit card product from 2015 to 2017 and found that the results overwhelmingly proved their hypothesis. Women-owned SME's had above-average card balances and spending, their customer retention was 55% after one year (vs. 52% for men), and retention has been much higher in recent quarters thanks to VPBank SME Business Unit initiatives. The teams also estimated that customer lifetime value (CLV) of the WSME card customers is 25% higher than that of male-owned SMEs. The workshop closed with a series of tips for commercial banks and MFI's on getting the right kind of data, cleaning it and analyzing it.
Webinar Presentation
About this event
Online
Lê Thị Diễm Phương
Lê Thị Diễm Phương is currently the Head of the Commercial Card and Payment solutions department at VPBank SME. As a banking and payment solutions expert with 20 years of experience in providing B2B and C2B payment services and card products at banks in Vietnam, Ms. Phương is responsible for developing payment solutions for SMEs, launching Consumer Card and Commercial Card products and managing VP Banks partnerships with international organizations such as IFC, Mastercard, Visa and JCB. She has a BA degree in Banking and English.
Ken Liffiton
Ken is the managing director of Andafin, which uses its in-house financial services data platform to provide consulting and data analytics services to financial institutions in emerging markets. He has over 15 years of experience with Micro, Small and Medium Enterprise (MSME) finance, starting with a technology role at Grameen Foundation and continuing through a variety of roles including director of financial services at a Vietnamese fintech, before founding Andafin in 2015. Ken has lived/worked on five continents and has spent most of the past decade in Vietnam, where his experience includes launching a digital financial services business, teaching corporate strategy MBA classes and serving on the board of a microfinance institution (MFI). Ken speaks Vietnamese and Spanish and holds an MBA from the Thunderbird School of Global Management.
Nisha Singh
Nisha has over 17 years of experience promoting access to finance and financial market systems development, with a focus on women’s economic empowerment and inclusion. Nisha worked at The SEEP Network from 2008 and 2016 to promote inclusive market systems development by building partnerships across the 120+ SEEP member organizations and associated stakeholders. Since 2017 her work has focused on increasing economic opportunities for women through innovations in financial services as well as gender mainstreaming for private sector actors. Nisha has a master’s degree from the School of Social Policy at the University of Pennsylvania, and an MBA from the University of Hyderabad.