Fintech
DEI in action: More and more fintech companies are making real change
This June in The Fintech Times we will focus on diversity, equity and inclusion (DEI). No longer just a trending topic, but an essential consideration not only for your business operations, but also for your offering, this topic seems more relevant than ever.
The fintech sector is known for its innovative and agile reputation, yet it still faces a significant diversity problem that threatens to stunt its growth and halt the innovation movement.
Yesterday we shared a roundup of fintech companies that are embracing diversity in their operations, and the response was so overwhelming that we had to create a second piece just to fit them all in. So without further ado, here are a few more fintech companies in the world that are embracing DEI and its benefits.
Diversity at all levels
Janette YuenHR manager at banking software platform, Zafin, She said:
“We know that a diverse and inclusive team enhances our ability to innovate and build better solutions. Zafin’s workforce has diverse representation at all levels, from entry-level positions to our senior leadership team and board of directors.
“To support our employees, we have multiple programs focused on equity, education, community and giving, such as:
“In addition to our Employee Assistance Program (EAP), which all employees can access, we recognize that some employees may already be using mental health providers. As a result, we offer 24/7 on-demand access to resources and services focused on the mental, physical and emotional well-being of employees and their families. This commitment to mental wellness has earned us recognition as one of Canada’s Best Places to Work for Mental Wellbeing Great place to work.
“Our employee engagement surveys are important to building a culture of care and transparency. In our latest survey, we found that 78% (+13%) of our global employees provided feedback and 86% said Zafin is a great place to work, far exceeding the average of 60% for typical Canadian organizations. We are proud to continue to be recognized as a Great Place to Work for five consecutive years, with further recognition across our UK and India offices as the Best Place to Work for Women in India in 2023.”
Sense of belonging
Orit Federlein-Doodai, hHead of Human Resources EMEAPayU GPO, a payment technology provider, said:
“Companies must also foster an environment where every employee feels a sense of belonging, is empowered to express their perspectives and can succeed regardless of gender, race or beliefs. DEI principles must shape company policies to create a positive experience for your employees.
“At PayU GPO, we embody these principles and care for our employees throughout the entire employee lifecycle. This includes a structured compensation review process that should be analyzed to avoid any discrimination, providing a variety of benefits that potentially fit everyone, and celebrating special and meaningful employee moments. We celebrate both personal moments such as birthdays or maternity leave; and professional milestones, such as promotions or anniversaries, as well as global and local events that allow for open discussions related to DEI, such as Pride Month and International Women’s Day.
“At the heart of our company are our PayUneers. At the heart of being a PayUneer is the ability to be a ‘U’ in the workplace, which is why our annual Pride Month celebrations are so important: we want all employees to feel like they are working in a welcoming and inclusive environment.”
Thriving in the industry
Rashmi Sharmavice president of engineering at SaaS cloud banking platform, Mambo, She said:
“In the Netherlands we celebrate “Girls’ Day”, an annual event where girls aged between 12 and 15 are encouraged to visit companies in the science, technology and IT sectors and immerse themselves in the world of technology. This year, to mark the occasion at Mambu, we invited 20 girls to our office to give them the opportunity to talk to the men and women of Mambu about working in technology, take part in hands-on workshops and learn more about skills needed to enter and thrive in the industry.
“Girls’ Day is a great opportunity for everyone involved and is something we care deeply about at Mambu. 20 girls may not seem like a lot, but if we can convince just one of them to consider pursuing a STEM and technology career, in my eyes that would be a win.
“Not only is this a rewarding moment for the Mambu team, but every girl who participated did
the potential to inspire others and create a chain of influence to encourage more girls to speak up
on STEM education and careers in technology.”
The value of diversity
Rosini The Dhaliwal, human resources manager at ClearBank, a clearing bank, said: “At ClearBank we recognize the value that diversity brings not only to our corporate culture but also to the products and services we provide to our customers. Bringing together a broad range of perspectives and experiences results in richer ideas, innovation and a deeper understanding of our customers’ needs. We maintain this core core in our culture by implementing inclusive practices from recruiting through leadership.
“DEI is one of our corporate priorities and is something we think about a lot. Not because we think we should, but because we know it’s the right thing to do. We are committed to ensuring that our teams reflect society and invest energy in making it a place where everyone feels able to be themselves. Our DEI policy guides us, but it’s the tangible things that happen here every day that we’re most proud of, like our increased support for family leave, dynamic employee resource groups, and all the training we offer.
“As a technology-driven company, we rely on data to drive informed business action, and we believe DEI should be no different. We have set specific, measurable goals and regularly review our progress, which helps us continue to foster a diverse and inclusive culture.”
Make an impact
Emma Steeley, CEO at Aro, a credit broker, said:
“After taking over as CEO two years ago, I wanted to make an impact on our workplace. Given that women are only a minority in all STEM-based jobs—30% of the fintech industry has women but only more than 10% of them in leadership roles—I wanted to redesign our culture by implementing a framework that prioritizes inclusion, respect, and psychological safety in the workplace.
“Under this scheme, we support our staff through life’s most important moments, offering extensive paid leave for maternity, paternity and adoption, as well as compassionate leave during pregnancy loss. We also provide support for difficult transitions such as menopause and domestic abuse, ensuring that every employee feels valued and acknowledged.
“Our dedication to inclusion extends to welcoming religious practices. We offer private, safe spaces for prayer within our offices and a flexible hybrid working policy that allows employees to work outside the UK for up to two weeks a year for religious events or family visits. This flexibility ensures our diverse workforce can practice their beliefs and maintain important family connections without compromising their professional responsibilities.”
Diversifying the workforce
Betsy Samuel, marketing manager at payment processor, Discussion:
“At Thredd, we have been on our DEI journey for the past five years. Initially, the company began with the aspiration and vision of creating a diverse workforce that spanned attributes from race and gender to neurodiversity and sexual identity. In the early 2020s, GPS began more intentional hiring to diversify the workforce by bringing more diverse individuals into the organization.
“In 2023, the company launched new corporate values that capture desired behaviors needed to both drive performance and do so in an inclusive, diverse environment where differences are embraced. The display of these values is a component in determining all employee bonuses and is also continuously measured through our performance management process. This was followed by the launch of an anonymous, in-depth employee engagement survey to gauge various employee attitudes and obtain feedback, including their views on how diversity is supported and encouraged in the organization.
“For 2024, Thredd is building on these efforts to develop a more comprehensive set of diversity metrics to ensure that the next phase of the company’s DEI efforts can be effectively measured and analyzed to evolve as the company grows.”
Work-life balance
My opinion chief operating officer at payment technology company, Tribe payments, She said:
“At Tribe, much of our ongoing work is focused on encouraging and supporting women in STEM. We currently have over 180 employees across multiple European offices. Around a third of our senior leadership team is women, and in technical roles, women lead IT project management (89%) and implementation (59%).
“Tribe also recently introduced a policy to support working parents, which I championed – as a woman in a leadership role, I felt it was my responsibility to lead the organization to ensure we had supportive policies in place. This was a major milestone for a company that is only six years old, but is passionate about having the right policies in place to support its employees.
“Ultimately, Tribe is about providing a good work-life balance. Whether it’s allowing mothers who want to breastfeed off-camera while they’re on duty, or supporting a parent in going to school to pick up their sick child, parents should have the flexibility to do that. We make sure that we’re able to facilitate that and acknowledge that that’s okay. We know that our employees are extremely dedicated. They work extremely hard for us. And we make sure that we support them as best we can.”
