Celebrating Women Every Day: A Call for Greater Representation in Financial and Technology Roles
Yesterday marked International Women’s Day, a day dedicated to celebrating and uplifting women across the globe. However, the message of empowerment and representation should resonate every day of the year. Today, we shine a light on how we can ensure greater representation of women and other diverse groups in financial and technology roles.
In the days leading up to this important occasion, we reached out to female leaders in the industry who have successfully navigated their careers in technology. Their insights provide a roadmap for progress and equity in these sectors.
Embrace Tangible Equity
Lauren Hoehlein Joseph, Chief People Officer at Mondu, emphasizes the need to move beyond performative gestures on social media. She advocates for a shift in the narrative surrounding International Women’s Day, urging the venture community to commit to inclusive investment.
“To be blunt, I’d like to see #embraceequity shift the #IWD narrative as we know it,” she states. Joseph highlights the importance of ensuring women have equitable access to stock and profit-sharing programs, which are vital for long-term wealth creation. She also calls for a broader spectrum of voices to be included in the conversation, recognizing the unique challenges faced by diverse groups.
At Mondu, Joseph is proud to be part of a leadership team that includes several women, showcasing that change is possible even in early-stage companies. “Let’s use #IWD as a motivator to extend representation, impact, and, ultimately, our capacity to champion each other,” she concludes.
Ensure Technology Works for All
Fiona Davies, Head of Gaming at OCR Labs Global, believes that inclusivity should be a priority for both chief people officers and chief product officers. She argues that technology must be designed to work for everyone, and OCR Labs has established a Zero Bias Code of Ethics to guide their development processes.
“Machines can make decisions that are free from human biases, but only if we design, develop, and use them ethically, transparently, and accountably,” Davies explains. By prioritizing fairness in technology, the industry can create products that serve a diverse user base.
Hire the Best Talent to Innovate
Daniella Rhodes, Head of Strategy and Innovation at Toqio, stresses the importance of diversity in driving innovation. She points out that the fintech sector has been predominantly male, and changing this dynamic is crucial for fostering creativity and innovation.
“According to the World Economic Forum, by 2050, 75 per cent of jobs will be related to STEM areas. Yet today, women hold just 22 per cent of positions in AI,” Rhodes notes. She advocates for hiring practices that prioritize diversity, as a mix of backgrounds leads to more innovative solutions that meet the needs of a broader audience.
Encourage More Women into STEM
Rina Shainski, Co-founder and Chairwoman of Duality, highlights the stark underrepresentation of women in STEM fields. With only 18 per cent of computer science degrees awarded to women in the US, Shainski emphasizes the need for systemic change to encourage female participation in science and technology.
“Achieving gender equality will lead to better science, workforce, and educated generations,” she asserts. Shainski calls for regulators to be mindful of emerging technologies like AI, which can perpetuate biases if not carefully managed.
Tackle the Gender Savings Gap
Sam Compton, Director of Operations at SmartSave Bank, addresses the persistent gender savings gap, revealing that women in the UK save over a third less than men. This disparity limits women’s financial freedom and ability to save for significant life goals.
“Creating more targeted savings products that consider women’s lived experiences is essential,” Compton argues. He believes that empowering women through financial education is key to championing real gender equity.
Showcase Impressive Women
Nadine Pichelot, Senior Vice President of Finance at Anaplan, advocates for showcasing successful women in business to inspire the next generation. She believes that representation is crucial for attracting more women to the financial and technology sectors.
“Female business leaders can visit schools to talk about their careers and experiences,” Pichelot suggests. By providing role models, young women can envision themselves in leadership positions, fostering confidence and ambition.
Think About How We Help People
Amanda Lieu, Director of Brand, Product Marketing, and Growth at SEON, expresses her disappointment at the slow progress toward equality. She urges individuals to reflect on their contributions to creating a fair environment for all.
“Simple actions and intentions from each of us can create a healthier, progressive collective of humanity,” Lieu emphasizes. By allowing everyone a voice and empowering potential, we can foster a more inclusive atmosphere.
We Need to Learn from Mistakes
Lili Metodieva, Managing Director at Monneo, highlights the lack of inclusivity in fintech and technology. She points out that while women hold one-third of board positions in the FTSE100, only 15 per cent are finance directors.
“There’s simply no excuse for a lack of inclusivity across fintech,” Metodieva asserts. She calls for honest dialogues around diversity and accountability from businesses that fail to prioritize inclusivity.
Better Outcomes Are Achieved by Diverse Teams
Regina Lau, Chief Financial Officer at Weavr, notes the positive changes in the fintech landscape for women. However, she stresses that awareness must translate into authentic action.
“Better outcomes are achieved by diverse teams,” Lau states. She encourages companies to invest in diverse recruitment and ESG initiatives, recognizing the value that women bring to the industry.
Encourage More Women to Join the Industry
Yoko Spirig, Co-founder and CEO of Ledgy, is proud of her company’s commitment to gender balance. She advocates for coherent diversity, equality, and inclusion strategies across the fintech sector.
“Trauma programs can encourage people of different backgrounds to explore careers in web development and engineering,” Spirig explains. By creating pathways for underrepresented groups, the industry can foster a more inclusive environment.
We Need to Start with Education
Marijke Koninckx, Chief Product Officer at BankiFi, emphasizes the importance of education in bridging the gender gap in tech. She believes that increased visibility of female role models and access to training can inspire young women to pursue careers in technology.
“The more women we have in leadership positions, the more it will become an obvious career path for girls still in school today,” Koninckx concludes. By investing in education and mentorship, we can pave the way for future generations of women in tech.
Through the insights of these leaders, it is clear that while progress has been made, there is still much work to be done. By embracing equity, fostering diversity, and encouraging women to pursue careers in technology and finance, we can create a more inclusive and innovative future for all.