In the ever-evolving landscape of finance and technology, one undeniable truth emerges: diversity drives innovation. As the Fintech industry continues its upward trajectory, addressing and bridging the gender gap grows more urgent. Fortunately, strides are being made to shatter stereotypes and pave the way for a more inclusive future.
Despite its booming success, Fintech has combated a glaring gender disparity. Women comprise only 4% of CEOs, 18% of executive committee members, and 7.7% of entrepreneurs. However, within these figures lies a potential for positive change — a collective commitment to improvement.
Historically entrenched biases and stereotypes have hindered women’s progress, creating barriers to entry and advancement. However, the tide is turning as companies increasingly recognize the value of diverse perspectives. Companies are starting to see the benefits of workplace diversity when evaluating profitability, productivity, employee recruitment and retention, job satisfaction and performance, and innovation and creativity.
“10% of salespeople are women and more than 75% of our clients request to see a diverse range of candidates as a key part of working together,” says Kate Sharland, Co-Founder and Client Director at Finiti.
“We continue to see a gap in industry experience at leadership level between male and female candidates, which we are continually trying to address and change for the future,” explains Sharland.
Finiti’s clients, in particular, are driving this change. With a heightened emphasis on diversity and inclusion, they are insistent on interviewing and inclined to hire female and diverse candidates. This shift in client preferences not only reflects a moral imperative but also a recognition of the benefits that diverse teams bring to the table.
Another contributing factor to the gender gap in Fintech is the disproportionate representation of women in STEM subjects. While strides have been made to encourage more women to pursue careers in technology, there is still much work to be done. Initiatives aimed at fostering interest in STEM among young girls and providing support and mentorship to women in tech are crucial steps in addressing this imbalance.
Additionally, the issue extends beyond recruitment to venture capital funding. Male-led startups often receive preferential treatment, perpetuating a cycle of male dominance in entrepreneurship. However, as awareness grows around the importance of diversity in driving innovation and profitability, investors are increasingly recognizing the value of female-led ventures.
The path to gender parity in Fintech may be paved with challenges, but the momentum is undeniably building. By dismantling systemic barriers, championing diversity, and fostering an inclusive culture, we can unlock the full potential of the industry. As we look at successful women like Cristina Junqueira, Co-Founder of Nubank, and Emilie Choi, President and COO of Coinbase, let us find motivation in our futures and remain committed to creating a more equitable and vibrant fintech ecosystem for all. Together, we can transform barriers into bridges and pave the way for a brighter, more inclusive tomorrow.
If you are interested in supporting female talent in the fintech industry, some organizations advocate for policies to translate awareness into tangible change. Female Innovators Lab and 100 Women in Finance are great resources.
At Finiti, we are proud to be a women-owned and led business. Diversity and inclusion are not just buzzwords; they are fundamental principles that guide us and shape us into who we are. Our commitment to championing female talent and empowering women in Fintech is unwavering.
If you are looking to grow your Fintech sales team, get in touch with us.
