IWD 2025: Empowering women’s economic independence through digital finance

“It is essential that everyone in the organisation feels a sense of belonging, that their ideas are valued, their viewpoints are respected, and they are treated fairly. When these principles become part of everyday operations, inclusion for all stops being ideal and starts being a reality that fuels growth, innovation, and lasting change.” – Aisha Islam, Senior Vice-President, Customer Solutions Centre, South-East Asia, Mastercard

Women entrepreneurs are a driving force behind economic growth, yet many still face barriers in accessing the financial tools and resources needed to scale their businesses. As digital finance continues to transform the financial landscape in South-East Asia, new opportunities are emerging to bridge these gaps and empower women with greater economic independence.

In this interview with HRM Asia, Aisha Islam, Senior Vice-President, Customer Solutions Centre, South-East Asia, Mastercard, discusses the key challenges women entrepreneurs face, how Mastercard is working to foster financial inclusion, and the critical steps organisations must take to accelerate gender equity in the workplace—aligning with the International Women’s Day 2025 theme, “Accelerate Action”.

What are the key challenges women – particularly entrepreneurs – face in accessing financial services, and how is Mastercard working to bridge those gaps?

Aisha Islam: Despite being critical contributors to economies, communities, and households worldwide, women entrepreneurs around the world face key challenges, including lack of access to tools, resources and networks necessary for growth.

The Mastercard Centre for Inclusive Growth is working to address these gaps through programmes and partnerships that enable women-led and owned businesses to access digital tools, financial services, and mentorship to build resilience and grow. Through 2023, we provided 37 million women entrepreneurs with solutions to help them grow their businesses, surpassing our goal of 25 million.

One example is Strive Women, part of the Centre’s Mastercard Strive small business programme, which aims to strengthen the financial health of women-led businesses. We do this by working with local partners in each market to deliver tailored financial products and support services while addressing gender barriers in markets including Pakistan and Vietnam.

Another key initiative, Mastercard’s Strivers’ Hub in Malaysia, aims to equip 100,000 micro, small, and medium enterprises (MSMEs) – especially those led and owned by women – with digital upskilling and financial resources to help them grow and thrive.

Similarly, through the Strive programme in the Philippines, our partnership with Boost Capital is empowering 10,000 small businesses, especially women-led enterprises. Boost Capital collaborates with local financial service providers (FSPs) to unlock access to digital financial services for small businesses through a digital-first approach. With 15 FSPs onboarded to date, this initiative paves the way for a targeted approach to accelerate their transition to the digital economy.

We have also partnered with the Asian Development Bank (ADB) to support small businesses. This collaboration leverages a US$5 million grant from the Mastercard Impact Fund to unlock up to US$1 billion in ADB financing for MSME lending. More importantly, over the next four years, at least half of this funding will go to women-led or women-owned MSMEs and climate-focused small businesses. The initiative will support markets including India, Indonesia, Malaysia, the Philippines, Thailand, Vietnam, and Georgia.

With the rise of digital finance, what opportunities do you see for women in South-East Asia to gain greater financial independence and economic security?

Islam: Digital finance is changing the game for women in South-East Asia, giving them more control over their money and financial future. With mobile banking, e-wallets, and fintech platforms, it is now easier than ever to save, access credit, and invest in opportunities that can improve their lives.

According to the World Economic Forum, women in ASEAN countries are adopting digital finance apps at a higher rate (65%) than men (59%), and one in five women seeking loans turn to fintech platforms, making it the second-most important borrowing source after banks.

Beyond just accessing financial products, digital finance is opening doors for women to start and grow their businesses. With the rise in e-commerce and digital payments, women entrepreneurs can reach more customers more quickly, manage transactions seamlessly, and explore new ways to fund their ventures, like crowdfunding. Financial education and digital literacy programmes are helping women gain the confidence to navigate these opportunities, take charge of their finances, and build a more secure future for themselves and their families.

What key lessons have you learned about fostering leadership in fintech and financial services?

Islam: Fostering women’s leadership goes beyond mentorship – it requires real advocacy, sponsorship, and tackling systemic barriers. Women need more than role models; they need champions who open doors and create real opportunities, especially in an industry where they are still underserved. A key lesson is building a culture where everyone feels heard, valued, and empowered to lead.

At Mastercard, we are dedicated to fostering gender equality and supporting women’s career development. We ensure equal pay for equal work and offer various programmes for women’s career growth, including mentoring, leadership development, and executive coaching. Benefits that support women throughout their careers and personal lives include new parent leave, flexible work hours, and time off for personal situations.

Leadership also means continuous learning and access to the right tools. Our Employee Resource Group, including our Women’s Leadership Network, helps women across our organisation grow professionally through the building of networks. But real progress is about ensuring everyone has a seat at the table and a voice in shaping the future of fintech.

As we approach IWD 2025 under the theme “Accelerate Action”, what does this mean to you in the context of workplace equality, and how can organisations accelerate meaningful action towards gender equity and ensure that women are at the forefront of innovation and decision-making?

Islam: Driving real change means turning commitments into measurable progress on workplace equality. Awareness alone is not enough; organisations need to take concrete steps that create real impact.

This means ensuring everyone has equal access to the key resources, platforms, and leadership support to shape key decisions. It is about building workplaces where inclusivity, open dialogue, and continuous learning are not just encouraged but embedded in the culture.

At Mastercard, we are a global community of over 30,000 individuals united by a common purpose: applying our technology and innovation to create a world where opportunities are accessible to everyone, everywhere. This commitment means opening doors, enabling equal opportunities, and empowering people both within and outside our organisation.

It is essential that everyone in the organisation feels a sense of belonging, that their ideas are valued, their viewpoints are respected, and they are treated fairly. When these principles become part of everyday operations, inclusion for all stops being ideal and starts being a reality that fuels growth, innovation, and lasting change.