By Sonia Dorais CEO of Chaser
There is no doubt that fintech is one of the most exciting and rapidly-growing industries today. However, it is also an industry that is still largely dominated by men.
In recent years, there has been a concerted effort to get more women into the field of fintech. And while there have been some successes, there is still work to be done.
The open question remains, what can be done to encourage more women to enter the fintech field?
Today we’ll look at the challenges that women face when entering this industry, and offer some solutions on how to overcome them. Let’s get started!
Why are there so few women in fintech?
Before we get into solutions, it’s important to understand the problem. Why are there so few women in fintech?
There are a number of factors that play into this. First, there is the fact that fintech is a conglomerate of the finance and technology sectors, both of which are traditionally male-dominated. This can make it difficult for women to even get their foot in the door.
There is a lack of awareness about the opportunities available in fintech. This is especially true for women who live in rural areas or who come from socioeconomically disadvantaged backgrounds. They simply don’t know that these jobs exist, or they might not have the connections to get their foot in the door.
Second, there is a lack of female role models in fintech. This can be discouraging for women who are considering a career in this field, as they don’t see anyone like them in positions of power. This lack of representation also contributes to the first problem, as it reinforces the idea that fintech is not a place for women.
So what can we do to encourage more women to enter the field of fintech?
The path to greater diversity in fintech
There are several things that can be done to encourage more women to enter the field of fintech, including:
Greater awareness of the opportunities
First, we need to increase awareness of the opportunities available in fintech among women of all ages and backgrounds.
This can be done through targeted outreach and marketing efforts, as well as by working with schools and universities to ensure that young women are aware of the potential for careers in fintech.
Provide more female role models
Second, we need to provide more female role models in the field of fintech.
This can be done by featuring successful women in fintech in media articles and interviews, as well as by hosting events and networking opportunities that bring together established professionals with those just starting out.
As a Female Fintech CEO, I am constantly striving to increase the number of women in my company and the industry as a whole, as well as provide a role model for aspiring women in fintech.
I would encourage other companies and leaders in the field to do the same. Let’s work together to close the gender gap in fintech!
I strongly believe that by working together, we can create a more diverse and inclusive environment in fintech, one that will benefit us all in the long run.
Increasing education and training opportunities
Second, we need to increase the education and training opportunities available to women interested in fintech.
This can be done by working with existing education and training providers to develop specific fintech programs for women, as well as by providing scholarships and other financial assistance to help women access these programs.
These kinds of increasing education and training opportunities start at the first level of education so that more women are encouraged and supported to study subjects like mathematics, physics, and computer science which can lead to careers in fintech.
Focusing on the skills needed for the future
The skills needed to solidify the future of fintech are not the ones being prioritised today. By looking to the future and focusing on the skills that will be needed, we can enable more women to enter the field by allowing them to focus on learning those skills.
Some of the skills that will be needed include data analysis, artificial intelligence, and machine learning. By providing training and education in these areas, we can better prepare women for careers in fintech.
This includes everything from providing scholarships and grants specifically for women in fintech, to setting up mentorship programs that connect experienced professionals with women who are just starting out in their careers.
Creating a more inclusive culture
Finally, we need to work on creating a more inclusive culture within the fintech industry.
This means ensuring that women have an equal voice and opportunity to participate in all aspects of the industry, from product development and marketing to sales and customer service.
It also means creating an environment that is supportive and welcoming to all, regardless of gender and establishing policies and initiatives that support and promote the advancement of women in fintech.
By taking these steps, we can encourage more women to enter the fintech industry and help create a more balanced and diverse workforce. This is not only good for women, but it’s good for the industry as a whole.
Making fintech a welcoming place for women
Above all, we need to make fintech a place where women feel welcome, supported, and valued. This starts with ensuring that women are represented at all levels of the organization, from the C-suite to the entry-level position.
It also means creating an environment that is supportive and welcoming to all, regardless of gender. This includes things like offering flexible work arrangements, providing adequate family-leave policies, and ensuring that there is no discrimination or harassment.
In addition, we need to do more to support and promote women in fintech. This includes things like increasing the visibility of women in leadership positions, investing in mentorship and networking programs, and providing training and development opportunities.
By doing this, we can create a more inclusive industry that is better for everyone.
Sonia is an Automation Economy Expert leveraging 15+ years in scaling B2B technology & SaaS businesses, driving revenue and building value for shareholders, teams & users. Currently serving as CEO at Chaser, a fast-growing fintech scaleup, which has helped businesses across the globe chase $10B+ in payments. Sonia is passionate about striking a balance between the power of the automation economy and the power of people.
Director of Year Award Winner (Europe Fintech Awards 2022), Finalist for the “Inspiring Women in Business” Award (2021) & featured in Financial Post, Business Insider, Yahoo! Finance among others.
Sonia is an advocate for modern business practices: leading with kindness, the development of autonomic teams, systems thinking and the automation of all-things-manual in order to prioritize all-things-human.