The latest FT Partners report reveals the exciting development of women in fintech and pinpoints areas where more focus is needed.
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.
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.
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.
Understanding a problem is the first step to solving it. And who understands the problems women face with financial health better than – well – women? Looking into the state of female entrepreneurship, it doesn’t take one by surprise that access to funding remains a hurdle for female entrepreneurs. The underrepresentation in the VC space has a severe impact on this outcome.
The latest Women in Fintech report by FT Partners uncovers the current state of female entrepreneurship as well as gender in the fintech industry. It further includes an inspiring interview compilation of some of the most successful women in FinTech.
Read the full report to gain insight from fintech leaders, entrepreneurs and investors and be well-prepared to do your part in changing the future of the industry for the better.
In August 2020, we in PayU created our first women-only employee community group. Our intent is to establish an inclusive platform that empowers all women to express freely without any inhibitions. Moreover, the aim of WoW community is to motivate peers, share inspirations and seek support and most importantly, bond over a common cause. In its second year, we are will be leveraging the WoW community to deepen conversations around diversity, inclusion, gender and enable it as a platform supporting our female employees in their personal and career growth.
Initially a voluntary community kickstarting with 60+ women, at present we have 320+ members. To further accelerate its role in driving the overall D&I agenda, we focus on the following „three E’s“ – the pillars set to drive engagement this year
We strongly believe in the power of community in empowering individuals on their paths to success and accelerating their personal and career growth.