It has been well established by this point that FinTech is bringing in a banking revolution. Finally, after years of a financial system tilted to benefit the upper crust, finance is becoming a system that really will benefit all people.
This can be seen in so many ways, from remaking the tipping process to improving the mortgage industry to introducing biometrics. But potentially the greatest impact can be seen when you start to look at the gender gap. Although it is still in many ways a man’s game (12% of CEOs in the financial industry are women and women hold less than 20% of the roles in the boardroom) women are having a very strong impact on FinTech’s growth and are helping to steer it in the right direction. In fact, compared to many other financial sectors, FinTech is (becoming) much more diverse and equal.
Look at Blockchain and RegTech: Two terms that weren’t on anyone’s radar in the past and are now revolutionizing the technology industry. Together these technologies are an unstoppable powerhouse, bringing forth new possibilities to those who know how to use them…and women around the world are blazing the trail when it comes to their development.
Consider Digital Asset, the leading force in distributed ledger technology and a trailblazer in the field of blockchain. Led by Blythe Masters, the company provides a digital access platform (or distributed ledger platform) to help financial institutions with their infrastructure issues. The company has a solid client and investment base, as even the big players can see how important this technology is to the growth of the industry.
Then there is Everledger, a digital ledger set to take the world by storm. The brainchild of Leanne Kemp, Everledger has devised a way to track the digital footprint of valuables (like diamonds). This new use of FinTech technology will prove invaluable for companies needing a high level of security when transporting and tracking their products.
This of course is just scratching the surface of the revolution. For more, check out Veriluma (Elizabeth Whitelock), Suade (Diana Paredes) and Trulioo (Tanis Jorge), other fantastic examples of innovative FinTech companies being led by women.
These women are important when it comes to today’s industry, but we also can’t forget about how important they are to women currently working towards their STEM degrees and waiting for their chance to break into the industry. Learning how these women created their own businesses and made a real impact in the FinTech world will be a great learning tool for tomorrow’s trailblazers. These titans of tomorrow can follow them to the boardroom by using the latest breakthroughs in financial technology to bring new advantages to the masses.
The next stage of FinTech is set to continue to remake our financial world and I can’t wait to see what’s in store for us.