Why Indian women are increasingly choosing apps over bank branches for financial services

India's rapid digital transformation is changing the way women interact with financial services, with mobile apps, UPI and online investment platforms increasingly replacing visits to bank branches. A new study by DBS Bank India finds that women across income groups are embracing digital finance for payments, banking, investing and credit, although the pace of adoption varies across different segments.

According to the Women and Finance 2026: The Digital Opportunity report, female entrepreneurs are leading the shift, driven by the convenience, speed and accessibility offered by digital platforms. High-net-worth (HNW) women are also increasingly relying on digital banking and investment platforms, while rural women earners are gradually expanding their use of digital financial services beyond basic transactions.

Digital payments lead the way

Digital payment platforms have emerged as the most widely used financial technology among women entrepreneurs. The study found that 84% of female entrepreneurs use digital payment tools, making them the most commonly adopted digital financial service. Loan and credit platforms follow at 38%, while 29% actively use brokerage platforms for investments.

The report suggests that digital platforms are increasingly becoming central to day-to-day business operations, enabling women entrepreneurs to manage payments, payroll, customer transactions and financial records more efficiently.

UPI dominates across demographics

Unified Payments Interface (UPI) has become the preferred payment method across all the groups surveyed. It is the payment method of choice for 77% of HNW women and 72% of female entrepreneurs, while 54% of rural women earners also use UPI regularly.

The findings reflect the growing reach of India's digital public infrastructure, which has made cashless payments easier and more accessible across urban and rural markets.

According to DBS, expanding internet connectivity, smartphone penetration and app-based banking services have significantly reduced barriers to accessing formal financial services.

Digital investing gathers pace

The report also points to increasing adoption of online investment platforms. Nearly 29% of female entrepreneurs and 28% of HNW women actively use brokerage platforms, indicating rising confidence in managing investments digitally.

Digital channels are also influencing borrowing behaviour. One in two female entrepreneurs frequently uses a personal credit card, with usage rising to 65% among those earning over ₹10 lakh a month, reflecting greater acceptance of digital credit products.

Trust remains crucial

Despite growing digital adoption, the report says trust continues to play a central role in determining how women use financial technology. While female entrepreneurs and HNW women are comfortable using digital platforms, many rural women still value in-person interactions with banks alongside digital services.

A majority of respondents also expressed confidence in identifying digital fraud, including 72% of rural women earners, 54% of female entrepreneurs and 53% of HNW women. Financial education, advisory support and awareness campaigns have helped strengthen confidence in using digital financial services safely.

DBS says India's expanding digital ecosystem is steadily reshaping women's financial journeys by making banking, payments, investing and credit more accessible. While physical branches continue to play an important role, particularly in building trust, the report suggests that apps are increasingly becoming the primary gateway to financial services for many Indian women, marking a broader shift towards a more digitally inclusive financial landscape.