Is today’s fintech world ready to serve women’s needs also?
Statistics show that in the fintech industry, women represent only 30% of the entire workforce.
While there is no shortage of highly capable, intelligent and ambitious women, only a small percentage of them are working in STEM (Science, Technology, Engineering and Mathematics) senior roles in fintech, according to the article pubslihed on paymentssource.com. The idea is not to fill all vacant positions with women just to increase this ratio but to create awareness of that if we want the fintech industry to create values to the whole society, it is indeed necessary to include women’s perspective in the product development, communication, etc.
According to the National Science Foundation, women make up 28% of all computer science and engineering STEM (Science, Technology, Engineering, Mathematics) roles, and that statistic is even more underwhelming when the focus turns to a market that is, historically, male-dominated. In the fintech industry, women represent only 30% of the entire workforce.
Can this historical tendency be explained by the difference between the cognitive abilities of genders? The brief answer is obviously no.
A study, conducted by psychologist Elizabeth Spelke P.hD. at Harvard University, reviews 111 previous studies and concludes that while cognitive approaches differ across genders, men and women possess an equal aptitude for math and science.
In addition, there are typically female skills that fill gaps introduced through organizational imbalances, such as social adeptness, emotional intelligence, and empathy. They facilitate a higher degree of collaboration and enrich product development.
Also, diversity in itself fuels creativity by lending different perspectives on current issues. Women help make products useful to a broader audience.
So the message is not to hire more women by all means but to become aware of that employing women in traditionally male-dominated fields can indeed have an added value.