Confidence Crisis: BMO and FCB Championing Women to Take Control of Their Financial Lives

Mar. 09, 2020

BMO is taking a public stand to promote women’s financial empowerment this International Women’s Day. The new campaign from FCB Canada sheds light on stereotypes and terms like “gold digger” and “trophy wife” that, over time, can erode a woman’s financial confidence. This initiative raises awareness of this unconscious societal issue and the lifelong consequences of telling women that they are bad with money.

The language that society, the media and even families use to talk to girls and women about money can lead to a loss of financial confidence and ultimately worsen financial inequality. Only 31 per cent of women believe that they are “financially knowledgeable,” and the median retirement savings for women is just two-thirds that of men.

Catherine Roche, Chief Marketing Officer & Head, Social Impact, BMO Financial Group, said:

“Despite the strides that have been made in gender equality overall, data continues to show that women feel less confident in their financial futures, and we are all a part of changing that conversation. At BMO, we recognize the power of women and their contributions to the economy and believe that real financial progress — for everyone — starts with feeling empowered.”

 

Told through the eyes of a woman named Jane, the campaign consists of a series of vignettes that depict Jane in various stereotypical scenes showcasing how women are often treated as if they are bad with money. The ending shows Jane trying to understand and manage her finances after her husband’s death and feeling overwhelmed, reinforcing that when society tells girls they are bad with money, they grow up believing it.

FCB Canada Co-Chief Creative Officer Nancy Crimi-Lamanna, said:

“While many banks talk about the gender disparities in the finance industry, they rarely address the bias that causes this inequality. We’re proud to be creative partners with BMO to take a stand to promote financial confidence for women.”

 

BMO is a longtime supporter of the advancement of women:

• In 2018, BMO announced its commitment to advancing $3 billion in capital to women-owned businesses across Canada. Since making this commitment, BMO’s women-led small business clients have grown by almost 10 per cent.
• In 2019, BMO became the first bank in Canada to sign the UN Women’s Empowerment Principles – which offer guidance on how to promote gender equality and women’s empowerment in the workplace, marketplace and community.
• BMO Celebrating Women has recognized 170 women in communities across North America for their achievements in business growth and philanthropy and community involvement.  
• Women make up over 41 per cent of BMO’s senior leadership positions in North America.

Directed by Academy Award®-nominated documentary film director Hubert Davis, “Jane” will run in Canada and the U.S. with paid digital media focused in Toronto and Chicago. To learn more about the campaign and to help share Jane’s story, please visit https://bmoforwomen.bmo.com/ourcommitment/.