New Fintech Diversity Scorecard is launched to enable Fintech and financial services companies to track themselves for diversity, and measure against their peers.
LONDON, 4 May 2023–(BUSINESS WIRE)–Women’s World Banking, Findexable and Money20/20 today launch the first Global Fintech Diversity Scorecard which enables fintech and financial services companies to track themselves for diversity, benchmark against peers and monitor progress over time.
The scorecard, based on Women’s World Banking’s proprietary Gender Assessment Methodology developed with support from Convergence, takes the form of an anonymised six-minute online survey that measures a firm’s current position on internal gender diversity and outreach to female customers. The scorecard culminates in a free high-level report that includes an overall gender diversity score and initial recommendations for improvement.
The initiative is launched today and our goal is to share the first results later in 2023. Each individual company’s results are anonymous, but collectively they will provide an unrivaled view of how the Fintech and financial industry is developing.
It is well known that different businesses with different management teams perform more strongly than those that do not. The original 2015 McKinsey report on this topic and updated in 2020 outlines that diverse businesses perform stronger and there is a direct link between diverse management teams and an organization that creates products that serve everyone in society.
Mary Ellen Iskenderian, President and CEO of Women’s World Banking, explains: “Investing in women both as customers and talent builds competitive advantage. We developed the Gender Assessment Methodology to help institutions build strong, gender-diverse teams and position themselves to serve and benefit from the multi-billion dollar women’s economy.”
“Fintech firms are ideally placed to design and offer financial products and services best suited to excluded and underserved customer segments, which is why we are partnering with Findexable and Money/2020 to share our methodology and experience to accelerate diversity, and finally, financial inclusion.”
Denise Gee, founder and CEO of Findexable, points out that clients and employees expect diversity and that boards are under pressure to deliver.
“Diversity is also good for business,” adds Gee. “Achieving true diversity in financial services and fintech requires collective action. This is why we are building a global consortium to accelerate diversity in fintech and highlight the lost value creation opportunities by building products for women and customers from diverse backgrounds.”
“Measuring the current position of a company’s diversity position is critical” added Tracey Davies, president of Money20/20. “We all know that progress is being made, but we need to be clear about where we are now so that we can accelerate progress. If we don’t measure and understand where we are, we simply won’t move forward fast enough. This data will provide an annual overview of progress and we are pleased to partner with Women’s World Banking and Findexable to support this initiative.”
The consortium currently includes Women’s World Banking, Money20/20 and Findexable.
Take the survey!
Click the link to receive a score for your business, an indication of how you rank against your peers, and a free report with recommendations.
See the source version at businesswire.com: https://www.businesswire.com/news/home/20230504005872/en/
Contacts
Money 20/20:
Tina Loncaric
Global Head of PR
Money 20/20
E: [email protected] P: +1 469 288 5556
