It’s no secret that the UK fintech industry isn’t great when it comes to gender diversity.

Only 28% of the UK fintech industry is female, according to this study by EY and Innovate Finance, making it less gender diverse than the broader financial services sector. The same report estimates the UK fintech gender pay gap to be 22%, with the women surveyed citing a lack of recognition for their contribution as well as non-transparent promotion and progression processes as the two biggest obstacles for women to progress in their careers.

I strongly believe there is a moral imperative for equity, so women can thrive in the workplace whilst being safe and supported. It is also an economic necessity. In the rapidly evolving landscape of fintech, gender diversity is not just a buzzword but an essential component of success. Studies consistently demonstrate that diverse teams are more resilient, adaptable and ultimately more successful. 

Although we hear about initiatives that are being introduced across the industry to try and close the gender gap, progress can feel slow and sometimes like it isn’t getting better at all. When focusing on this macro picture, it may feel easy to get lost in the doom and gloom of it all and become discouraged and jaded – or maybe that’s just me! 

Being a member of FXC Intelligence’s Women in Fintech network allows me to focus on the things I can control and think positively about shaping and influencing the company, rather than getting lost in the headline statistics I shared at the beginning of this blog. 

Creating a women's network within a company is of paramount importance for fostering gender diversity, inclusion and professional growth. Such networks create a supportive and empowering environment for female employees, offering them a platform to connect, share experiences and mentor one another.

It is also a forum for feedback that directly takes into account the experiences and diverse perspective of its members to drive awareness within the company of gender-based issues and can ultimately help leadership make strategic decisions for the betterment of the company 

With this in mind, the Women in Fintech Network at FXC Intelligence was established as an employee-led network to give the women in the company a space to come together to share their experiences, build connections and receive support. The aim is to empower women, allowing them to benefit in their career and personal growth, building confidence, having discussions and planning initiatives.

The network has three main purposes:

1. A safe space for shared experiences

The network provides a secure platform for women to share their experiences, fostering a supportive community where challenges can be openly discussed. In an industry where women are still underrepresented, having a safe space to share triumphs and tribulations is invaluable.

 2. Advocacy for workplace equality

The Women in Fintech Network actively engages in advocating workplace equality. By providing feedback to leadership, the network becomes a driving force in shaping an inclusive culture within FXC Intelligence. This advocacy extends beyond mere words, emphasising the importance of walking the walk rather than just talking the talk.

3. Skill development and mentorship

Recognising the significance of skill development, the network facilitates mentorship programs and other initiatives to empower women in honing their abilities. This not only strengthens individual career paths but also contributes to a more diverse and skilled workforce within the organisation.

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