Feasibility study: Maternity finances product as a trigger to improve women's financial resilience

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Women and men have different life experiences - which ultimately impact on their finances. Becoming a parent is one such event which disproportionately impacts women's financial capabilities - the 'motherhood penalty'.The gap between male and female hourly earnings grows steadily in the years after parents have their first child. By the time this child reaches 20, mothers earn about 30% less per hour than similarly educated fathers (Institute of Fiscal Studies).Ultimately, this leads to reduced income and propensity to save, feeding into the Gender Savings Gap. Where women earn less than £10k per year, pension payments are not compulsory, further contributing to the Gender Pension Gap.It does not have to be like this.Our vision is a world where motherhood does not negatively impact a woman's financial capability. Our mission is to create microfinance products designed around women's specific needs and behaviours, which firstly make women aware of this penalty, and secondly break down the inertia barriers, so that they are empowered to be part of the change to overcome it.