Historically female participation is seeing a steady progress – a lot of milestones have been reached, even more are yet to come. Looking at recent employment stats female workforce is becoming increasingly important, nevertheless female representation at senior management and leadership roles still has a long way to go.
Gender diversity in the workplace has proven to be highly beneficial and companies in finance, technology, and fintech are recognizing its importance. Various trainings, initiatives and dedicated workforce aim to enhance gender diversity in tech industries – this is no easy task in industries, which have been dominated by men for a very long time.
Redefining the role of women in fintech
Fintech is one of those industries, but with a special perk on top – it merges two areas of male-dominance, finance and technology. Although the long and inspiring history of women in tech undoubtedly shows that women deserve a respected seat at the table, the reality of today points us at degree gaps, retention gaps, and workplace culture gaps preventing them from doing so. Breaking down stereotypes to encourage women to pursue STEM degrees is one of the biggest challenges in front of tech industries. Female talent retention on the other hand is equally important, and tech has to foster better D&I culture to achieve it.
Financial health as a historical challenge
Overcoming financial stress on the path to independently earning and providing for themselves, has been historically difficult for women. Reaching financial health is challenging for many female employees due to the gender pay gap, work gaps caused by caregiving duties and various reasons and social constructs. Latest surveys show that in the United States, women control as much as 85% of the overall consumer spending, and yet significant changes need to be made for women to gain equal representation in the field of financial services.
One of the industries that holds much hope in this matter is fintech. Over the past years it steadily puts the spotlight on women and their financial inclusion. Fintech companies focused on the financial health of women continually emerge and disrupt the status quo of financial services through products which successfully improve financial inclusivity for women. Across all verticals, fintech companies are creating services designed to solve the problems women face on their way to solid financial ground both in their personal lives as well as on their career paths.