Women In the FinTech Industry
The FinTech industry has been known as a male-dominated industry with an estimated of 30% of the FinTech workforce and just 17% hold a leadership role. It is obvious that the industry has a disparity in gender balance. While it is not an intentional outcome, it has become an issue for FinTechs to tackle to maintain a good balance of both genders.
Over time, the FinTech industry is starting to look like an industry founded for men, run by men and products made for men. However, why is this an issue and why should we talk about it?
There is a confluence of factors surrounding the gender inequality topic. There is a scarcity of women in the tech sector, barriers for female founders/entrepreneurs when obtaining the necessary funding, wage inequality and even discrimination based on gender. While taking on the issue of gender equality goes beyond doing the right thing, but it also brings business success. Businesses that support gender equality has been associated with increased organisational performance and enhanced ability to attract and retain key talents within the company. A study from McKinsey & Company, which researched more than 1,000 companies globally has shown that organizations with greater diversity among their executive teams tend to have higher profits and longer-term value as well.
About ‘Challenging The Disparity’ Event
In our latest event of ‘Challenging The Disparity’, our Commercial Manager of Levin – Stephanie Garcia hosted the session with guest speakers, Managing Associate of Storm2 – Sophia Ng, CEO of Funderbeam Exchange – Jacqueline Rachelle Yee and Strategic Partnership Manager of EZYPAY – Georgia Giannaros.
Together, they sat down to discuss the impact of FinTech and its gender dimensions, showcase opportunities in FinTech, discuss the barriers for women’s participation as FinTech innovators, and share some advice to women who wants to get a foot in the door in the industry.
In the event, we also addressed the impact of FinTech and its gender dimensions, what stakeholders of FinTech can do to improve outcomes and create more gender diversity in the FinTech industry, the leading issues of the FinTech industry being male-dominated and has failed to understand women’s needs and having a bigger gender problem than it realises, labelling it an industry founded for men, run by men, and making products for men and how improving gender diversity will safeguard the industry.
How Storm2 Can Help
As global FinTech recruitment marketplace, we help to support FinTechs in their journey to success. For FinTechs that are looking to close the gender gap and tap into the limitless potential, we are here to help. Our specialist consultants are experienced to help FinTechs of any growth stage. Contact us now to find out how we can support you in your journey.
