ClearBank and Code First Girls: Bridging the Gender Gap in Fintech
In a significant move to address the gender disparity in the fintech sector, ClearBank, a UK-based cloud banking platform, has partnered with Code First Girls. This collaboration aims to actively recruit female coders and encourage more women to enter the tech industry, particularly in finance.
The Role of Code First Girls
Code First Girls stands out as the largest provider of free coding courses for women in the UK. With partnerships spanning over 100 firms both domestically and internationally, the organization is dedicated to placing women in tech roles. Their mission is clear: to empower women with the skills needed to thrive in technology-driven environments, particularly in sectors like fintech where the demand for talent is soaring.
A Growing Coalition
ClearBank joins a growing coalition of 30 fintech and financial services firms, including industry giants like Lloyds Banking Group, NatWest, Morgan Stanley, Bank of America, and Goldman Sachs. This collective effort underscores a shared commitment to increasing female representation in tech roles. The financial sector has emerged as the largest and fastest-growing client base for Code First Girls, reflecting a keen interest from both fintech startups and traditional banks to diversify their workforce.
The Gender Gap in Tech and Finance
Recent analysis from the UK’s Office for National Statistics (ONS) highlights a troubling gender gap in the tech and finance sectors. Only 18% of computer programmers, software developers, web designers, and data analysts in the UK are women. The figures are even more stark in finance, where women make up just 3% of brokers, financial analysts, and advisers. This disparity is alarming, with 203,800 men compared to only 95,700 women in these roles.
Opportunities for Women
In 2022, Code First Girls created 44,861 opportunities for women to learn coding, a stark contrast to the mere 6,450 women who pursued undergraduate computing degrees in the UK. This initiative not only opens doors for women from non-technical backgrounds but also enhances creativity in problem-solving, improves performance, and fosters innovation across various sectors. By actively recruiting women, companies can benefit from diverse perspectives that contribute to more effective solutions and strategies.
Voices from the Initiative
Anna Brailsford, CEO of Code First Girls, expressed her enthusiasm for the partnership with ClearBank, emphasizing the importance of supporting women in their journey into the fintech industry. She remarked, “There is currently a worrying gender gap, with many women facing significant barriers to entering STEM careers, starting at school and continuing throughout their lives.” Brailsford believes that diverse experiences and skills will strengthen both the tech and finance industries, creating vast opportunities for businesses and individuals alike.
Tom Harris, ClearBank’s Chief Technology Officer, echoed this sentiment, highlighting the significance of diversity in their mission to revolutionize financial services. “We’re thrilled to be partnering with Code First Girls on this initiative, helping to get more women and non-binary people into technology roles at ClearBank,” he stated.
The Broader Impact
The collaboration between ClearBank and Code First Girls is not just about filling positions; it’s about reshaping the future of the fintech industry. By fostering an inclusive environment, they aim to create a workforce that reflects the diversity of the society it serves. This initiative is part of a broader trend where companies in the financial sector, including notable clients of Code First Girls like NatWest Group, Bank of America, and Goldman Sachs, are recognizing the need for gender diversity as a driver of innovation and success.
Conclusion
The partnership between ClearBank and Code First Girls represents a significant step toward closing the gender gap in fintech. By actively recruiting female coders and supporting women in tech, they are not only enhancing their own workforce but also contributing to a more equitable and innovative industry. As more companies join this movement, the potential for change grows, paving the way for a more inclusive future in finance and technology.