Female executives are being overlooked for top fintech jobs
Research by the big four firms EY, and Innovate Finance, has highlighted “barriers” in the FinTech sector with female leaders being overlooked for senior positions in the industry.
The report, compiled from the 120 finalists on the Women in Fintech Powerlist, highlighted that over one in four female executives believed that unclear progression opportunities for promotions and a lack of recognition were holding back progress for the sector.
EY’s analysis indicated that the gender pay gap in the FinTech industry is as high as 22 percent, with 17 percent of Powerlist respondents calling for regulation of the gender pay gap to help close the gap.
Commenting on the findings, Sheila Flavell CBE, Chief Operating Officer at FDM Group, said: “The fintech industry makes a huge contribution to the UK economy, creating jobs and driving innovation. With such a bright future ahead, tackling the pay gap between gender equality and improving access to career opportunities should be a top priority for business leaders. The key to solving this problem is expanding career and training programs, as well as working harder to retain female talent. By building a stronger, more diverse workforce, the fintech industry will be better positioned to represent the clients it serves in the long term.”
Meanwhile, Joanna Kori, head of People for Encompass Corporation, said, “The fintech industry has evolved significantly and needs to be open and accessible to all. Ensuring equality across the board requires work from all parties, with the support of leaders who are particularly important in implementing progressive workplace policies, such as flexible work initiatives, that benefit everyone, including parents and women returning to work. Having that support can empower women in their life and well-being choices, as well as their work choices , allowing them to achieve their professional goals while maintaining a good work-life balance.There is so much untapped potential, and if we are to continuously see positive change, flexibility is key.
“Women themselves should also be proactive in making the fintech and technology sector work for them and their lives. Technology is so broad and far-reaching now compared to 25 years ago and should be an important factor behind not only day-to-day business activity, but also in helping women access and excel in the industry, she added.
