Fintech
Gender Inclusion in FinTech: Insights from FinTech Live Singapore
The FinTech Live Singapore event hosted an interesting panel discussion on women representation in FinTech. The panel featured Alice Chen, Co-Founder and General Counsel of InvestaX; Jessica Lam, Group Chief Strategy Officer of WeLab; and Polinah Gatawa, Operations Executive in the Financial Services Industry.
Why it is important to highlight gender inequality
Highlighting gender inequality is critical to fostering a more inclusive and equitable society, especially in rapidly evolving industries like FinTech. Gender inequality not only limits opportunities for women, but also hinders innovation and overall growth in the industry. By bringing attention to these inequalities, we can address systemic biases, promote diverse leadership, and ensure women have equal access to opportunities and resources.
“Headlines amplify the presence of men, with fewer women on stage,” said Alice Chen.
Stressing the need for diverse representation at the C-suite and board levels, Alice Chen advocates for mentorship and visibility.
“Inclusion starts with me: what I do at home with my daughter, at work as a founder, I try to set a good example,” she says.
Jessica Lam emphasizes the importance of visibility and meritocracy. “It’s always about ‘see, be.’ Seeing someone similar to you can be a powerful motivator,” she shares.
“Visibility and open dialogue are the first steps,” she says, advocating awareness and practical measures tailored to specific organizational contexts. She emphasizes the importance of hiring based on skills and merit, noting that diversity fosters innovation, improves problem solving, and leads to better business results.
Awareness and good practices, meritocracy and individual action
Raising awareness is the first step toward female inclusion in FinTech. Companies must recognize existing gender disparities and actively work to address them. Best practices include implementing mentorship programs, promoting flexible work policies, and ensuring transparent hiring and promotion processes. Regular training on unconscious bias and diversity can also foster a more inclusive environment. By comparing industry leaders with those who have successfully integrated these practices, companies can tailor strategies to their unique contexts, ensuring that efforts to include women are effective and sustainable. This proactive approach not only benefits women, but also drives broader organizational success and innovation.
Lam stresses the importance of awareness and understanding best practices within the industry. “It always starts with awareness, recognizing that diversity is something to be considered, not necessarily a problem,” she says. Lam suggests looking at successful models in other organizations and adapting them to your own unique context. “It’s about figuring out what works for you based on the size and scale of your company,” she notes.
Chen reiterates the importance of meritocracy and individual action. “We need to foster a meritocracy in the workplace and encourage women to ask for help and be visible,” she says. Chen also emphasizes the need for leaders to be inclusive and support diversity without relying on quotas. She shares her experience of being supported by male colleagues and emphasizes the need to foster an environment where diversity is valued.
Polinah shares a personal anecdote: “My father told me that I was born with a silver spoon in my mouth, which means that the opportunities are endless if you believe in yourself.” She emphasizes the role of deliberate empowerment in families and the importance of continuous learning and speed of execution in achieving success.
Taken together, these insights highlight the critical steps and attitudes needed to advance female inclusion in the FinTech industry, fostering an environment where diversity not only thrives, but also drives innovation and organizational success.
Adapting strategies to different regions
Alice Chen stresses the importance of considering cultural differences when implementing diversity strategies. Drawing on her extensive experience working across Asia, she highlights the challenges and nuances involved. “We can’t change centuries-old customs overnight, but we can encourage gradual change,” Chen says, highlighting the need to balance respect for local norms with a push for progress.
Likewise, Polinah explores the potential for cross-regional learning and adapting successful models. With examples from Africa and her current experiences in Australia, she illustrates how different regions can provide valuable insights into digital transformation and diversity initiatives. “Learning from global partners and adapting best practices can drive progress in local contexts,” Polinah notes, advocating a collaborative approach to achieve meaningful change.