Over the next decade, women—particularly those in emerging markets—will become a dominant force worldwide, assuming increased leadership responsibilities across business, government, and education.
And due to urban migration, improved access to education, mobile technologies, and the availability of micro credit, nearly one billion women will enter the workforce or start new businesses by 2020.
In addition, women from generation Y, across race and ethnic lines, will dominate both college graduation rates and professional workplace entry, expanding their role in management and in professions such as law, business, and medicine, according to the report.
“Women will overcome the legal or traditional barriers that prevented them from participating in some regions by using virtual, mobile, and Internet technologies to run businesses without having to be physically present,” Intuit 2020 predicts.
This and the other demographic, social, economic, and technology trends Intuit 2020 outlines have major implications for financial services providers.
Namely, increased regulatory pressures, the rapid adoption of mobile devices, and heightened customer expectations will reshape the financial services industry over the next decade. To successfully compete in this new environment, credit unions must remain agile in responding to customer demand for personalization, accessibility, and value-added services.
Next: Four trends that will redefine banking