The Gender Gap in Fintech: Insights from the Paris Fintech Forum
Every year, the Paris Fintech Forum (PFF) makes a concerted effort to spotlight female Fintech founders and CEOs at its CEO-only conference. Yet, as Laurent Nizri, the CEO of Altéir and PFF organizer, candidly admits, finding these women to share the stage remains a significant challenge. This year, during the five sessions of the Alternative Finance track, only one female entrepreneur, Nicky Goulimis, co-founder and COO of Nova Credit, took the stage, while the remaining 20 speakers were men. This stark imbalance highlights a persistent issue in the Fintech landscape.
Gender Parity Is a Long Way Off
The quest for gender parity and equality in business, particularly in Fintech, is far from over. Instead of merely lamenting the situation, PFF actively engages with the issue. A panel moderated by Nkiruka Uwaje, Global Innovation Manager at Swift, explored the barriers to gender diversity in finance across various regions. The discussion featured notable figures such as Claire Calmejane, Chief Innovation Officer at Société Générale, Denise Johansson, co-founder and CEO of Enfuce, and Carmen Vicelich, founder and CEO of Valocity Global. They shared insights on the unique challenges women face in different geographies.
One of the highlights of the forum was the “Women in Finance” lunch, which brought together over 110 women Fintech entrepreneurs and intrapreneurs. Sponsored by Mastercard, this gathering served as a powerful networking opportunity. Ann Cairns, Vice Chairman of Mastercard, shared alarming findings from the latest World Economic Forum study on gender equality, revealing that progress had slowed down in 2019. At the current rate, it could take an astonishing 257 years to close the economic gender gap.
Marguerite Bérard, Head of French Retail Banking at BNP Paribas and co-sponsor of the event, urged women to advocate for their representation at finance and technology events. Cédric O, Secretary of State for the Digital Sector in the French Government, echoed this sentiment, emphasizing that a sustainable economy necessitates diversity. He expressed hope that future generations of young women would naturally associate finance and Fintech with female role models.
Fintech Role Models
The “Women in Finance” lunch was not just about discussions; it was a vibrant networking event that connected women entrepreneurs and decision-makers from diverse companies and countries. Among the 110 attendees were prominent Fintech entrepreneurs and influencers, including Susanne Chishti, founder and CEO of Fintech Circle, and Ghela Boskovich, who leads an action group for gender inclusion called FemTechGlobal.
The event also showcased rising-star female CEOs such as Adina Grigoriu, founder and CEO of Active Asset Allocation, Sara Koslinska, founder and CEO of Limitless, and Lupina Iturriaga, founder and CEO of Fintonic. These women exemplify the potential and talent present in the Fintech sector, proving that there is no shortage of female role models.
Special thanks were extended to Doriane Mollaret, Director for the European area at Bitsa, for capturing the moment with a group photo, further emphasizing the sense of community and support among women in Fintech.
The Path Forward
While the challenges of achieving gender parity in Fintech are significant, events like the Paris Fintech Forum are crucial in addressing these issues head-on. By creating platforms for discussion, networking, and advocacy, the PFF is not only highlighting the current disparities but also fostering a community that champions female representation in finance and technology.
The conversations sparked at the forum are essential for inspiring change and encouraging more women to step into leadership roles within the Fintech industry. As the dialogue continues, it is clear that the journey toward gender equality in Fintech is one that requires collective effort and unwavering commitment from all stakeholders involved.