Empowering Women in Fintech: The Rise of Fintech Ladies IL
Israel, often dubbed the "Startup Nation," is a vibrant ecosystem teeming with innovation and entrepreneurial spirit. However, while platforms like Facebook groups, accelerators, and meetups foster networking and community, many still overlook specific sectors, particularly women, ultra-Orthodox, and Arab communities. This gap has led to the emergence of initiatives like Fintech Ladies IL, a non-profit community dedicated to empowering women in the Fintech industry.
The Vision Behind Fintech Ladies IL
Founded in 2019, Fintech Ladies IL aims to create a supportive network for women in the Fintech sector. The community was born out of a shared experience among its founders—May Michelson, Rahav Shalom Revivo, Keren Aviasaf, and Maria Bromberg—who encountered each other at a conference in Amsterdam. Recognizing the need for a dedicated space for Israeli women in Fintech, they set out to build a platform for collaboration, discussion, and empowerment.
May Michelson, VP of Global Sales at GK8, describes the community as a place for women to network, discuss trends, and form impactful collaborations. With over 1,000 members, the organization has quickly become a vital resource for women navigating the complexities of the Fintech landscape.
Addressing Gender Imbalance in Fintech
Despite progress, the Fintech industry still grapples with significant gender imbalance. Michelson notes that women’s decision-making presence remains underrepresented, and partnerships are far from equal. Rahav Shalom Revivo highlights that while the finance sector has a better gender ratio than tech, women still face barriers when transitioning into technology roles.
Keren Aviasaf-Migdal emphasizes that while female representation in Fintech is improving, many women still encounter obstacles that hinder their advancement. Maria Bromberg adds that women in leadership positions are still a rarity, underscoring the need for initiatives like Fintech Ladies IL to foster change.
The Unique Contributions of Women in Fintech
The founders of Fintech Ladies IL believe that women bring unique perspectives and skills to the Fintech industry. Michelson asserts that women can impact all sectors, not just Fintech, and challenges the notion that men possess exclusive capabilities. Revivo echoes this sentiment, advocating for a more gender-neutral approach that values the diverse expertise women offer.
Aviasaf-Migdal argues that a homogenous group of decision-makers can lead to products that only serve a narrow demographic. She advocates for a more inclusive approach to leadership, suggesting that men in power should adopt effective behaviors commonly found in women. Bromberg emphasizes the importance of including women from diverse backgrounds to ensure that financial tools meet the needs of all users.
Encouraging Female Participation in Fintech
To encourage more women to enter traditionally male-dominated fields like Fintech, the founders suggest several strategies. Michelson emphasizes the importance of making information and opportunities accessible, advocating for a cooperative rather than competitive environment. Revivo identifies the need for supportive communities and mentorship programs to guide women entering the industry.
Aviasaf-Migdal points out that many women make professional sacrifices for family, which can impact their economic well-being. She advocates for work-life balance initiatives that benefit both genders. Bromberg stresses the importance of raising awareness about career opportunities in Fintech and creating a supportive community for women.
The Role of “Fintech, Ladies & Wine”
One of the standout initiatives of Fintech Ladies IL is the “Fintech, Ladies & Wine” event series. These gatherings provide a relaxed atmosphere for women in Fintech to network, learn from industry leaders, and form meaningful connections. Michelson explains that the events are designed to foster collaboration and support among women in the field.
Revivo recalls how senior leaders in the industry quickly joined the initiative, highlighting the community’s importance. The informal setting encourages strong interpersonal bonds, making it easier for women to share experiences and insights. Aviasaf-Migdal notes that the events are carefully planned to ensure a balance of professional discussions and social interaction, creating a welcoming environment for all attendees.
Expanding the Community Model
The founders believe that the model of Fintech Ladies IL could benefit other sectors that lack female representation. Revivo suggests that any industry needing more women could thrive with a supportive network of experts. Bromberg agrees, emphasizing that humans are social creatures who need a community to flourish.
Future Trends in Fintech
Looking ahead, the founders of Fintech Ladies IL are optimistic about the future of Fintech. Michelson predicts the rise of the digital assets economy, with tokenization and cryptocurrency adoption continuing to grow. Revivo anticipates increased utilization of AI in Fintech applications, while Aviasaf-Migdal highlights the need for collaboration between traditional financial institutions and digital-first companies.
Bromberg concludes that the intersection of technology and finance will lead to more personalized financial services, emphasizing the importance of considering cultural and social backgrounds in the development of these services.
Through initiatives like Fintech Ladies IL, the future of Fintech looks promising, with a growing community of empowered women ready to shape the industry.