Falcon’s Post

UNDERSTANDING UNCONSCIOUS BIAS IN FINTECH: GENDER GAP IN ACCESSING FINANCIAL PRODUCTS AND SERVICES Let's delve into a topic that's both crucial and often overlooked: unconscious bias in FinTech and its impact on gender equality in accessing financial products and services. So, what is unconscious bias? Essentially, it's those hidden, automatic attitudes or stereotypes that influence our understanding, actions, and decisions without us even realizing it. In the world of FinTech, these biases can manifest in various ways, often leading to disparities in who gets access to financial opportunities. Now, when we talk about the gender gap in accessing financial products and services, it's essential to recognize that it's not just about numbers. It's about the underlying biases in algorithms, product designs, and decision-making processes that perpetuate inequalities. Women, for instance, might face higher interest rates or lower credit limits compared to men with similar financial profiles. Why? Because algorithms might unknowingly favour certain demographic characteristics associated with traditional notions of financial stability, which often align more closely with male profiles. This unconscious bias can have profound implications, widening the already-existing gender wealth gap. Women might be steered towards less favourable financial products or even excluded from certain opportunities altogether, simply due to biased algorithms or outdated stereotypes. So, what can we do about it? Awareness is key. By shedding light on these unconscious biases and actively working to dismantle them, we can pave the way for a more inclusive FinTech landscape. This means holding companies and institutions accountable for their algorithms, advocating for diverse representation in decision-making roles, and continuously auditing systems for bias. Ultimately, achieving gender equality in FinTech isn't just about fairness—it's also about maximizing economic potential. When we break down barriers and ensure everyone has equal access to financial resources and opportunities, we create a more prosperous and just society for all.  Let's keep pushing for progress together! #GenderEquality #FinTechInclusion #UnconsciousBiasAwareness.

As a company operating in the fields of #entrepreneurship and #financial technology we strongly believe that women should have a more prominent presence and take on leadership roles in this ecosystem. We are aware of the tremendous contributions that women professionals at every level bring to organizations, both in our industry and within our own community. However, due to persistent cultural biases that still exist, the representation of women in the business world is not at an adequate level. According to Findexable's 2021 report, women make up 19% of executives, 11% of board members, and 1.5% of founders in fintech companies, receiving only 1% of the total #fintech #venture funding. While achieving absolute gender equality requires more effort, time, and commitment, we have reasons to be optimistic. A study by the IMF suggests a positive relationship between the presence of women in leadership roles and the increased revenues of fintech companies in recent years. Women continue to make steady gains in professional opportunities, salaries, status, and decision-making positions in every field. A more just and inclusive fintech world is possible, so yes you can. 👩🏻💼👩🏼💼👩🏽💼👩🏾💼👩🏿💼👩💼 #InternationalWomensDay #GenderEquality #Fintech #8thmarch

📢Here's a report, just out, on why it's hard to climb in fintech - if you're a woman. IWD #investinher This article investigates gender disparities within the #fintech industry, highlighting a "triple glass ceiling" that impedes women's advancement in Fintech. 💥Underrepresentation in leadership roles in finance. Women are significantly underrepresented in leadership positions in finance. 💥In technology it's even worse with very small numbers of women in C level roles in fintech. 💥Entrepreneurship and VCs - a boys club, Male dominance leads to a tendency to invest in male-led ventures in a show of homophily, Addressing these barriers is crucial for promoting gender equality in fintech and fostering innovation within the sector. Lot's of stats that, I'd like to say make for interesting reading but really it's just rather sad. Women of FinTech #fintech The Fintech Marketing Hub CIC #MentorHer #DigitalHer #womenoftech #regtech Fintech B2B Marketing Community FinTech North Full article here https://lnkd.in/ebwSMRtp Chloe Fox-Robertson & Dariusz Wojcik FAcSS Cambridge University Press & Assessment

Inclusion isn't just about empowering individuals – it’s a driving force behind innovation. 💡 Beyond gender, fostering inclusiveness and equipping women to reach their full potential is how organisations can unlock their own growth potential. I recently connected with Belinda Jonovska (and her dog Archie), a true 'Payments Geek,' 🤓 and a passionate advocate for creating meaningful change in an organisation. Her journey from a larger enterprise to an early-stage start-up struck a chord with me. Belinda's story highlighted the incredible value of finding her tribe 👯♀️ and supporting the women within it – be it a compliment, mentorship or advocate.   What amazed me was how she successfully tapped into her social network tribe of 130,000 fellow moms. This connection allowed her to gather feedback that significantly influenced her organization's commercial direction and strategy. 📣 In a world where women represent 50% of the population, it's crucial to ensure their voices are not only heard but also valued. Belinda’s story of boosting inclusiveness serves as a catalyst for more organisations to follow suit – and in turn will prompt bolder innovation in the Fintech space as a whole. To all Women in Payments, do you have a story to share? Hit me up, I'd love to hear it - especially over a cup of coffee! 🙋🏼♀️ #WomenInPayments #WomenInTech #InclusionMatters

With over 4 billion women globally, it's both an ethical and strategic imperative to see an increase in women's participation in fintech. Statistics support this, with a 2021 report by McKinsey indicating that gender-diverse companies are 25% more likely to outperform their peers. The contributions of organizations like Worldline and PPRO in fostering gender diversity are commendable. Their efforts in mentoring and empowering women in fintech resonate with the growing need for balanced representation. The 33% increase in female fintech founders in the past five years signals positive change. The future of fintech undoubtedly looks brighter with increased inclusivity, innovation, and diverse perspectives. #fintech #DEI #womenempowerment

The fintech sector stands at the forefront of innovation and financial inclusivity, with Europe leading the charge in #gender #diversity. As we reflect on the progress and the road ahead in 2023, it's essential to highlight the contributions and positions of female specialists within the #European #fintech landscape. Percentage of Female Specialists: In 2023, women have made remarkable strides, now representing 35% of the fintech workforce in Europe. This number, while promising, underscores the need for continued efforts to achieve full gender parity. Leadership Roles: Europe has shown a progressive trend in women occupying leadership positions within fintech. Approximately 20% of C-level roles in European fintech companies are held by women, including CFOs, CTOs, and even CEOs. This is a clear indicator of the shifting dynamics and the breaking of glass ceilings in the industry. Technical and Non-Technical Positions: The distribution of female professionals across various roles in fintech has been notably diverse. In Europe, women account for 25% of technical roles, such as software engineers and data analysts, and 45% in non-technical positions, including marketing, HR, and operations. This diversity not only enriches the fintech ecosystem but also promotes a #balanced and #inclusive work #environment. Innovation and #Entrepreneurship: Female-led fintech startups have surged, with 30% of new fintech ventures in Europe being founded by women. These startups are not just contributing to the industry's growth but are also instrumental in driving financial inclusion and innovation. The European fintech sector's journey towards gender diversity is commendable, yet there's still a significant path to tread. It's imperative for organizations to foster a culture that promotes gender equality, supports professional development, and recognizes the unique contributions of female professionals. #WomenInFintech #GenderDiversity #FintechEurope #InclusiveFinance #Empowerment

The Gender Gap in Fintech: PR's Challenge to Spotlight Women in the Industry. In the dynamic world of fintech, innovation knows no bounds. Yet, when it comes to gender diversity, there's still ground to cover. Women have been integral to shaping the fintech landscape, yet their contributions often remain in the shadows. Public Relations plays a pivotal role in spotlighting these incredible women who are breaking barriers, making strides, and driving change in the industry. 💡 This challenge isn't just about highlighting disparities; it's about celebrating the achievements of women who are leaving an indelible mark in fintech. It's about fostering an environment where diverse voices are amplified, ideas are nurtured, and opportunities are equitable. As a PR agency, we want to champion the women in fintech who are trailblazing, innovating, and leading the way. #FintechInclusion #WomenInTech #PRforChange #PR #FinTech #Inclusion

International Women's Day: 7 FinTech companies with women founders In celebration of International Women’s Day, FinTech Global is shining a spotlight on seven FinTech companies with woman founders. Despite initiatives focused on greater gender equality in all walks of life, there is still a major gap. FinTech might be at the forefront of innovation and change, but it is still lacking behind in terms of gender equality. A study from Findexable in 2021 found that just 30% of the total FinTech workforce were women. Even more shocking is the fact that just 19% of executives in FinTech companies are executives, 11% are board members and only 1.5% of FinTech founders are women. Progress is being made, but much more work is still needed. In celebration of International Women’s Day, here are seven FinTech companies with women founders. Read the full list here: https://lnkd.in/g9rUb2eS #FinTech #iwd2024 #Founders   Velexa Red Oak Compliance Solutions Air Doctor Ellevest Muinmos KYND TAINA Technology Limited Tamara Kostova Maria Scott Melanie Hayes Cathy Vasilev Jenny Cohen Derfler Efrat Sagi-Ofir Sallie Krawcheck

Empowering women in finance through technology is not just a noble thing to do, it's also essential for fostering inclusive economic growth and sustainable development. In today's world where digital transformation is changing industries at lightning speed, it's crucial to use technology to bridge the gender gap in finance. I had the pleasure of appearing on Y254 KBC channel recently, where I talked about the transformative power of utilizing technology to financially empower women. During the interview, we discussed innovative solutions, challenges, and inspiring success stories that show just how important it is to consider gender when it comes to fintech. One of the things I highlighted is the role that digital financial services play in making finance more accessible for women, especially those in underserved communities. By using mobile money, digital wallets, and other fintech solutions, women can overcome traditional barriers to financial inclusion, such as geographic distance, lack of formal identification, and limited access to brick-and-mortar banks. The best part is that technology-enabled financial services give women greater control over their financial lives, empowering them to save, invest, and manage their money more effectively. This newfound financial independence not only enhances women's economic resilience but also strengthens their ability to pursue entrepreneurial ventures and contribute to household and community development. However, while there's enormous potential for fintech to empower women, we must address gender-specific barriers that prevent women from fully participating in the digital economy. That's why we need to bridge the digital divide by improving women's access to affordable internet connectivity, providing digital literacy training, and creating gender-responsive technology solutions. We must also confront gender biases and stereotypes that shape the design and delivery of financial products and services. By promoting policies, regulations, and corporate practices that prioritize gender equality, we can create an environment where women can benefit from the opportunities presented by fintech. During the interview, I emphasized the importance of collaboration among stakeholders, including governments, financial institutions, tech companies, civil society organizations, and academia, to advance women's financial inclusion agenda. By working together, we can co-create innovative solutions, share best practices, and advocate for policies that prioritize gender equality and women's empowerment in the digital age. I'm grateful for the opportunity to amplify the voices of women in finance and contribute to the ongoing dialogue on gender equality and inclusive development. https://lnkd.in/dA_zrFDi #finance #womeninbusiness