This article explores digital financial capability (DFC) as a critical component of the digital transformation journey, especially for women. Financial capability must evolve to include DFC, so low-income women are not left behind.

Research by CFI reveals that traditional financial literacy approaches are ineffective and women are particularly affected by social norms. In the same way as the conversation on financial literacy has shifted to a more action-oriented concept of financial capability, the authors argue that the digital financial capability conversation needs to transition to practical tools to help customers gain the knowledge, attitudes, and skills to effectively use digital financial services (DFS). The article introduces a new framework for developing effective digital financial capability programs and proposes actions towards embracing digital financial capability efforts.