This June at The Fintech Times, we’re focusing on diversity, equity and inclusion (DEI). No longer just a trending topic but an essential consideration to not only your business operations but in your offering as well, this topic feels more relevant now than ever before.
The fintech industry is known for its innovative, agile reputation, and yet it still faces a significant diversity problem that threatens to halt its growth and stop that innovation moving.
Yesterday, we shared a round-up of fintech companies championing diversity within their operations, and the response was so overwhelming that we had to create a second piece just to fit everyone in. So without further ado, here are some more companies in the fintech world who are embracing DEI and its benefits.
Diversity at all levels
Janette Yuen, head people officer, Zafin
Janette Yuen, head people officer at banking software platform, Zafin, 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, for example:
“Beyond our Employee Assistance Program (EAP), which all employees can access, we recognise that some employees may already have mental health providers. As a result, we offer 24/7 year-round on-demand access to resources and services focused on mental, physical, and emotional well-being for employees and their families. This commitment to mental wellness has earned us recognition as one of Canada’s Best Workplaces for Mental Wellness by Great Place to Work.
“Our employee engagement surveys are important for building a culture of care and transparency. In our last survey, we found that 78 per cent (+13 per cent) of our global employees provided feedback, and 86 per cent affirmed that Zafin is a great place to work, far exceeding the average of 60 per cent for typical Canadian organisations. We are proud to continue being recognised as a Great Place to Work for five consecutive years, with additional honours in our UK and India offices, such as the Best Workplace for Women in India in 2023.”
Sense of belonging
Orit Federlein-Doodai, head of HR EMEA, PayU GPO
Orit Federlein-Doodai, head of HR EMEA, PayU GPO, a payment technology provider, said:
“Companies must also foster an environment where every employee feels a sense of belonging, is empowered to voice their perspectives, and can succeed irrespective of gender, race or personal beliefs. DEI principles must shape company policies to create a positive experience for your employees.
“At PayU GPO we embody these principles and look after our people throughout the entire employee lifecycle. This includes having a structured compensation review process which should be analysed to avoid any discrimination, providing a variety of benefits that potentially fits all and celebrates employees’ special and meaningful moments. We celebrate both personal moments such as birthdays or coming back from maternity leave; and professional milestones e.g. promotions or anniversaries, as well as global and local events that enable open DEI-related discussions, such as Pride month and International Women’s Day.
“At the heart of our company are our PayUneers. At the core of being a PayUneer is being able to be “U” in the workplace, that’s why our annual Pride month celebrations are so important – we want all employees to feel they work in a welcoming and inclusive environment.”
Thrive in the industry
Rashmi Sharma, VP of Engineering, Mambu
Rashmi Sharma, VP of Engineering at SaaS cloud banking platform, Mambu, said:
“In the Netherlands, we celebrate “Girls’ Day” which is an annual event where school girls between the ages of 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 young girls into our office to give them the opportunity to speak with the men and women at Mambu about working in technology, take part in hands-on workshops, and learn more about the skills required to enter and thrive in the industry.
“Girls’ Day is a great opportunity for everyone involved and it is an initiative that we hold very closely to our hearts at Mambu. 20 girls might not seem like a lot, but if we could convince just one of them to consider entering STEM education and the world of technology, that would be a win in my eyes.
“Not only is this a paying forward moment for the team at Mambu, but each participating girl then has
the potential to inspire others, and create a chain of influence to encourage more girls to get talking
about STEM education and careers in technology.”
The value of diversity
Roshini Dhaliwal, chief human resources, officer, ClearBank
Roshini Dhaliwal, chief human resources officer at ClearBank, a clearing bank, said: “At ClearBank we recognise the value diversity brings not only to our company culture but the products and services we deliver to our customers. Bringing together a wide range of perspectives and experiences leads to richer ideas, innovation and a deeper understanding of our customers’ needs. We keep this core to our culture by implementing inclusive practices from recruitment through to leadership.
“DEI is one of our company 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’re committed to making sure our teams reflect society and put energy into making this 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 enhanced family leave support, dynamic employee resource groups and all the training that we deliver.
“As a technology-led company, we rely on data to drive informed business action and believe that DEI should be no different. We have set specific, measurable goals and regularly review our progress, which helps us continue fostering a diverse and inclusive culture”.
Make an impact
Emma Steeley, CEO, Aro
Emma Steeley, CEO at Aro, a credit broker, said:
“After stepping into the role of CEO two years ago, I wanted to make an impact on our workplace. With women only making up a minority in all STEM-based jobs – 30 per cent of the fintech industry involves women but only over 10 per cent are in leadership roles, I wanted to redesign our culture by implementing a framework that prioritises inclusion, respect and psychological safety in the workplace.
“Following this framework, we assist our staff through major life milestones, offering extensive paid leave for maternity, paternity, and adoption, as well as compassionate leave during pregnancy loss. In addition, we provide support for difficult transitions such as menopause and domestic abuse, ensuring that every employee feels valued and recognised.
“Our dedication to inclusion extends to accommodating religious practices. We offer safe, private spaces for prayer within our offices and a flexible hybrid work policy that allows employees to work outside the UK for up to two weeks annually for religious events or family visits. This flexibility ensures that our diverse workforce can practice their beliefs and maintain important familial connections without compromising their professional responsibilities.”
Diversify the workforce
Betsy Samuel, chief marketing officer, Thredd
Betsy Samuel, chief marketing officer at payments processer, Thredd:
“At Thredd, we have been on our DEI journey for the last five years. Initially, the company started with an aspiration and vision of creating a diverse workforce that spanned various attributes from race, and gender to neurodiversity and sexual identity. In the early 2020s, then GPS began more intentional hiring to diversify the workforce with more diverse individuals joining the organisation.
“In 2023, the company rolled out new corporate values that capture the desired behaviours necessary to both drive performance and to 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 measured continually through our performance management process. This was followed up by the initiation of an anonymous in-depth employee engagement survey to measure various employee attitudes and gain feedback, including their views of how diversity is supported and encouraged at the organisation.
“For 2024, Thredd is building on these efforts to develop a more complete set of diversity metrics to ensure that the next phase of the company’s DEI activities can be effectively measured and analysed to evolve as the company grows.”
Work-life balance
Lynda Clarke, chief operating officer, Tribe Payments
Lynda Clarke, chief operating officer at payments technology company, Tribe Payments, said:
“At Tribe, a lot of our ongoing work is focused on encouraging and championing women in STEM. Right now, we have more than 180 employees across various European offices. Roughly a third of our senior leadership team are women, and in technical roles, women lead in IT project management (89 per cent) and implementation (59 per cent).
“Tribe also recently introduced a policy to support working parents, that I spearheaded: as a female in a leadership role, I felt that it was my responsibility to guide the organisation to make sure we have supportive policies in place. This was an important milestone for a company that is only six years old, but is passionate about having the correct policies in place to support its employees.
“Ultimately, Tribe aims to offer a good work-life balance. Whether that is allowing mothers who want to breastfeed off-camera while they’re on calls, or supporting either parent in going to school to pick up their child who is sick, parents should have the flexibility to do that. We make sure that we’re able to facilitate that and recognise that that’s okay. We know our employees are extremely dedicated. They work extremely hard for us. And we make sure that we support them in the very best way that we can.”
The post DEI in Action: Even More Fintech Companies Making Real Change appeared first on The Fintech Times.
