Putting diversity and inclusion at the heart of external programming and publications
FinTech Futures has a dedicated D&I Hub on the website that includes a wide variety of content on the subject (and in different formats - written word, videos, podcasts etc.). The hub is free and open to everyone, is regularly updated and provides global coverage on a broad range of topics. Head across now >>
In addition to featuring thought leadership from industry experts and first-hand experiences from industry participants, we also create our own exclusive content, based on interviews, own experiences and observations. Here are some great articles written by our reporter Ruby Hinchliffe:
Women in fintech: Clipped wings, part-time stigma & ignorant assumptions
Women in fintech: “Aggressive” feedback, revealing audits and dress up comments
Women in fintech: Skewed numbers, vain assumptions, and investor bias
Why do women still think they need to be palatable?
The March 2021 edition of Banking Technology Magazine is dedicated to women in tech. Read now >>
The October 2020 edition of Banking Technology Magazine is dedicated to racial diversity and celebrates Black History Month. Read now >>
Banking Technology Awards 2020 introduced a new category – Diversity & Inclusion Excellence – which had received a great response from the industry. The winner was Russian bank Sberbank for its online banking for visually impaired entrepreneurs project.
By James Milloy, BDM, IM|Power
Diversity has been at the top of the agenda within the IM|Power team the past few years, but admittedly, the focus has primarily been on driving an equal gender split within our speaker faculty and not nearly enough on racial diversity.
In 2020 the team posed the question, in addition to the initiatives Informa are running around diversity and inclusion, how could we as a team build a progressive message and ethos into our events, and more importantly the sector we serve?
The IM|Power team arranged several research calls within our network, primarily with past speakers representing black success stories in a white male dominated industry. The overriding feedback being cultural representation was key to inspiring the next generation and that without this it would be hard to convince graduates that this was an industry that welcomed and supported those from underrepresented demographics. With that in mind, we began to look at how we could facilitate the introduction of a new talent pool.
The switch to virtual provided us an opportunity in 2020 that was previously unexplored pre-COVID 19 – the creation of a digital footprint far wider than our previous efforts. If we could successfully build a strong digital platform, entice a new audience and build a new way for our content to be digested, our return to physical might only be more powerful, given these newly formed streams of distribution.
In the digital realm a new opportunity presented itself; the ability to encourage a new generation of attendees, one that has never had access to the quality of content we provide at our events. These events come at a premium and with good reason – a certain level of seniority within our delegation is what our attendees are invested in – but on a digital platform, a university student with an ambition to break into investment management could essentially roam free, almost invisible.
With that idea in mind, what if we went one step further and facilitated networking activities for our newfound attendees? Within our virtual event platforms, could we not segment networking activities and provide a space for a group to benchmark against one another? If that group could be pulled together, perhaps we could build a small programme aimed directly at them. Presentations from success stories in the sector, advice for breaking into an industry that has historically not championed racial minorities. Would our sponsors want to get involved? Would those sponsors perhaps enlist their talent acquisition team too? Could we build a mentorship programme into the initiative to help track and mentor the group’s progress?
The above suggests a few big picture ideas, but as a client pointed out to me, nurture a new talent pool now and that talent pool could be who we see on the IM|Power plenary stage in ten years’ time.
For our virtual IM|Power event in October 2020, we introduced a scholarship pass for students in the UK. We reached out to an Employment & Placements Advisor at Hertfordshire University, who would distribute the event details via their online portal, but also directly to lecturers who could personally contact their students with a recommendation to join. We had a good response, with fifteen students taking up the scholarship pass and getting good value attending the high-profile discussions on the agenda.
Our next step could be to enlist more Universities and build better networks to facilitate the population of this new demographic.
With ConnectMe now in place, we have even better functionality for delivering some of the ideas for nurturing and, in time, there could be a physical space for mentorship at our events.
With many of our clients eager to showcase their efforts in diversity and inclusion, there’s an opportunity to show the industry it works both ways, and given our experience in bringing people together, we can perhaps inspire, encourage and even mentor a new generation of talent, as we make our professional space a welcoming one. Food for thought as our value proposition in the market continues to rapidly change.
I always aim to get as many female speakers as possible for the events I’m producing and always use the % of female speakers as one of the key tracking/ measurement tools in regular reports and post-event analysis. With my two emerging markets focused events, the importance of D&I is becoming even greater. I always include at least one session on female leadership, diversity and inclusion and the “S” aspect of ESG when constructing my conference programmes. I can see a massive uptake in interest from the investment community to discuss these issues and get more involved.
As a woman myself, including female speakers as part of my conference programmes has been important both on a personal and professional level – after all, women provide a valuable and potentially alternative perspective which enriches discussions. I have worked with the wider team to ensure we highlight our female speakers through interviews and social media promotion. The topic of diversity is also an important one to highlight as part of event programmes and I have noticed growing interest amongst the private equity industry in this discussion. I strive to include this and provide a platform for both female and male speakers to come together to discuss the tangible benefits of diversity within the industry.
I have worked with organisations such as The Investment Diversity Exchange (TIDE) and Diversity VC to incorproate the topic of diversity on various agendas. Diversity has been an integral topic on the SuperVenture agenda since 2019 and Diversity VC have provided an update on progress in the industry as well as leading a panel/discussion group to provide valuable information and takeaways on the topic.
SuperVenture: 26% women speakers in 2020 cf. 21% in 2019 SuperInvestor: 23% women speakers in 2020 cf. 18% in 2019
Greg Palmer, Director of Fintech Strategy, Finovate
Financial technology brings two industries together that are historically among the least inclusive you’ll find anywhere in the world. Finance is notorious for its poor treatment of “outsiders,” and the tech industry still provides a home for toxic work environments that alienate and discourage gender and ethnic diversity.
Fostering a more inclusive, diverse fintech ecosystem has been a core value of Finovate’s since its inception, and we have always prioritized bringing diverse groups together to share their experiences and ideas. When we launched our podcast, this gave us a new avenue to highlight and include voices of those who share in our fundamental belief that true innovation requires diverse perspectives in order to change status quos that no longer work.
On the next page, you’ll find a sample of Finovate Podcast episodes that demonstrate both our commitment to inclusion, along with the opportunities and new ideas that inclusion can bring to the forefront. Of particular interest, I think, is the episode with Adela Knox from our production team, talking about the way we look at building an inclusive speaker faculty. The episodes from Tosin, Theo, Sharon and Stuart are all more focused on the fintech ecosystem, but are certainly well worth listening to in their own right.
Innovation requires diverse viewpoints. If we can bring those viewpoints into the conversation and elevate them on our platform, we push the entire industry to do better and be better.
Listen to the featured Finovate Podcast episodes by clicking on their speaker tile, or visit the full list of 80+ episodes here >>
David Penn, Research Analyst, Finovate
Finovate's coverage of innovation in fintech includes showcasing women and people of colour whose leadership and insights, often overlooked, are nevertheless helping define fintech around the world. Through interviews, guest commentary, and special features, our blog shares accomplishments and vision in our industry whose example and leadership today will help bring about a better, more equal tomorrow.
Read some of the articles featured on the Finovate blog:
Lift Every Voice: Fintech’s Other Diversity Challenge
Diversity in Fintech Articles
Women in Fintech Articles
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