Celebrating Women in Fintech: Progress, Challenges, and Future Opportunities
This October, The Fintech Times is dedicated to shining a spotlight on the remarkable women making waves in the fintech industry. As we delve into their stories, we uncover their greatest achievements, the challenges they face, and their vision for fostering women’s careers in this dynamic sector. Despite the strides made toward reducing the gender gap, the fintech industry still has a long way to go before achieving true representation and championing full equality.
A Journey of Transformation
Misty Beaulieu, Head of Operations & Risk, North America, at Worldline, reflects on her 15-year journey in the fintech landscape. “When I started, the industry was predominantly male, and many roles for women were largely administrative,” she recalls. However, she notes a significant evolution in the workforce dynamics. “At Worldline, our Operations and Risk teams are nearly a 50/50 split between women and men.” This shift has not only made the workplace more accessible but has also fostered innovation. “Diverse teams bring a wealth of perspectives, allowing us to solve problems more creatively and holistically,” Beaulieu emphasizes.
The Need for Representation
Debbie Kennedy, CEO of LifeSearch, echoes the sentiment of progress but highlights the ongoing challenges. “While entry into the industry has become easier, particularly with strong role models, we still struggle to retain women, especially after they become mothers,” she explains. Kennedy points out that many talented women drop out of the industry or change tracks due to the lack of support and flexibility. “We need to focus on nurturing an entrepreneurial mindset and creating an environment that encourages women to thrive at all levels,” she advocates.
Building a Supportive Network
Katherine Garrod, CISO and VP of Digital Workplace at PPRO, shares her perspective on the changing landscape. “Twenty years ago, I often felt like the only woman in the room. Now, I see more women around me, and it’s empowering,” she states. Garrod emphasizes the importance of supporting one another and creating a culture where women can be courageous and confident. “By demonstrating the behaviors we want to see, we can inspire others to follow suit,” she adds.
Embracing Inclusivity
Bhumi Bhutani, co-founder of the fintech auto app startup Way.com, highlights the strides made in inclusivity within the industry. “A decade ago, the leadership landscape was dominated by older, Caucasian males. Today, we see a more diverse representation,” she notes. Bhutani recounts her own experiences as a young Indian-American woman in fintech, emphasizing the importance of authenticity. “I refused to change my name to fit a mold. If my community could pronounce it, so could the industry,” she asserts, showcasing the power of staying true to oneself.
Progress Yet to Be Made
Lindsay Soergel, Chief Product and Customer Experience Officer at Kasisto, reflects on the advancements in diversity, equity, and inclusion (DEI) within fintech. “In the early stages of my career, women were often relegated to HR or marketing roles, with few in P&L positions,” she recalls. While she acknowledges the positive changes, Soergel stresses that there is still much work to be done, particularly for women of color and LGBTQ+ individuals. “We have not even scratched the surface of potential,” she warns.
Optimism for the Future
Alma Angotti, partner in financial crime, fraud, and investigative services at Guidehouse, expresses a hopeful outlook for the future of women in fintech. “The landscape is evolving with numerous opportunities as businesses experiment with new concepts,” she states. Angotti believes that the growing awareness of the value of diversity will lead to more inclusive environments where women can thrive. “I’m optimistic about the future,” she concludes.
A Collective Effort
As we celebrate the achievements of these women and others in the fintech industry, it’s clear that while progress has been made, the journey toward true equality is ongoing. By sharing their stories and insights, we can inspire the next generation of women to pursue careers in fintech, ensuring that the industry continues to evolve into a more inclusive and equitable space for all.