Egos Shift To Accommodate Women Trailblazing in FinTech.
2017's Women in Fintech Powerlist has opened for submissions. Being open to candidates around the world, the UK organisation and global fintech representative Innovate Finance is anticipating a diverse and record breaking number of entries. The recognition of women in the financial technology sector is unavoidable as many candidates prove their contributions and skill to the industry, are vast.
The importance of elevating the female margin into common place is spoken about by Ella Rabaner, Co-Founder of Scalable Capital in Forbes’ Women in Fintech Power List
‘There are too few women working in fintech, which is a shame as we’re all working on topics that have an impact not just on our sector but on the lives of millions of people. We can make a real difference and since both the finance and the tech industry have been shaped by men for decades, it’s about time for women to bring in their perspectives too’
It appears that the talented and masterful female contributors to fintech are unquestionably hungry to be recognized purely for their work rather than filling a diversity quota. However, to achieve an equilibrium within the financial arena, the 2017’s Women in Fintech Powerlist award, is a necessity. Reasons for the award scheme being so imperative was pointed out by artist Grayson Perry CBE RA and Turner prize winner who, ‘inspired by his conversations with bankers and stockbrokers, made an artwork that symbolised the experiences and capture a world he says is still a “bastion of male power” — a huge, shiny penis decorated with banknotes and the faces of bankers.’
Perry continued in The Guardian’s ‘Grayson Perry Creates Huge Phallus To Represent Bankers’ World View’ by saying his experiences with the City male interviewees were —
“shrouded in politeness and gentrification the higher up you go which has called for an artwork that brazenly displayed the gender bias of the corporate world.
The nicely educated, perfectly mannered gentlemen of our financial system were hard-pressed to admit that masculinity even existed, let alone had any bearing on the shape of our noble bankers’ behaviour.
The main challenge, has been to unpick masculinity from the background of a world “entirely made by men”.
Following on from Perry’s observations, the Huffington Post reports in ‘Do We Need More Diversity in the Fintech Sector?’ article —
The technology sector has been criticised over the years for its lack of diversity. In 2016 the US Equal Employment Opportunity Commission (EEOC) published a report on diversity in tech and the findings were not encouraging. The tech sector employs fewer women and fewer minorities than other private sector industries, and this is especially true of management and leadership roles. 80% of executives in high tech were found to be men, and 57% of executives were white.
With women in Fintech being celebrated in public domains, egos from the ‘gentleman’s club, financial tribe’ will inevitably have to acknowledge that women are serious contributors to the industry and deserve to have equal engagement of any man. Equality progress in Fintech will be seen by having the best person for the job, do the job and not preserving bygone school boy loyalties, no matter how well mannered they are.
The Director of Innovation at Lloyds Banking, Michelle Prance is ‘delighted to support Innovate Finance on the Women in Fintech Powerlist 2017. It’s important we showcase the women trailblazing in the sector as they are role models for the next generation of talent we want to attract,’.
Inspirational directors such as Prance, power through the still apparent fact pointed out by Perry ‘that there are fewer women leading FTSE 100 companies (just seven in total) than men called John.’
We wish every success to all the candidates in this years 2017’s Women in Fintech Powerlist. Furthermore, we will be watching out for more women in Fintech who have been inspired by this years award.
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Written by Roberta Morris. Published 28th June 2017