Bringing women together through the Klipsk app and using role models to educate and strengthen women when making financial choices and investments. This was the winning concept in Nordea’s challenge at the female Stockholm Tech Fest hackathon. The participants were asked to come up with ideas on how to empower women and help them take control over their personal finances.
“Investments are not for some women, investments are for all women”, Frida Hedström said in the winning team’s pitch. The other members of the team were Louiza Asoyan, Kavya Shukla and Benish Adnan. About 50 ladies participated in the Nordea challenge and over a thousand women attended the hackathon this past weekend. Nordea was one of the sponsors.
Klipsk, which means savvy in English, would use story telling by ordinary women about their investments as a source of inspiration for other women, the team said in its pitch. It would also connect to existing platforms for investments, such as Nordea’s Investor platform.
“Financial insecurity impacts our confidence. For instance the confidence to change jobs, and accelerate our career, or the confidence to start your own business. Basically the gender investment gap impacts our choices in life”, said jury member Lotta Bourgoin, who heads the Growth arm of Nordea Digital Wealth.
Feeling a lack of control over personal finances can also have a negative effect on our health, she said. It increases stress and may influence the ability to sleep. It also leads to women generally being worse off than men after retirement. Since studies show that women who are empowered and have financial knowledge can do even better than men with their investments, there is potential to change the female financial disadvantage through information and education.
Read more about the Stockholm Tech Fest.
Have you heard about the Nordea Gender Diversity Fund? If not - read about it here.
The final presentation of ideas took place at Stadshuset in Stockholm.
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