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Women in Fintech Powerlist Supported by: WOMEN IN FINTECH POWERLIST Innovate Finance is an independent not-for- TABLE OF profit membership association representing the UK’s global FinTech community. Founded in CONTENTS 2014 with the support of the City of London and Canary Wharf Group, Innovate Finance aims to accelerate the UK’s leading position in the global WOMEN IN FINTECH 2016 POWERLIST financial services sector by directly supporting the next era of technology-led financial services innovators, from start-ups to institutions. With over 250+ members, Innovate Finance seeks to address the key barriers and opportunities in the FinTech ecosystem: attracting greater investment, supporting the development of proportionate Celebrating Women in FinTech 4 and effective regulation, engaging in community collaboration, and promoting innovation in More Women= Stronger financial services, whilst championing an open, Fintech Ecosystem 5 inclusive and secular FinTech community. Diversity Champions 6 Members range from start-ups to the world’s leading global corporations. Through Innovate Trailblazing Women 11 Finance membership they have a single point of access to innovators, investors, regulators, Women in FinTech Powerlist 15 policy makers and commercial partners. Behind the Scene 26 www.innovatefinance.com Lead Sponsor: Founding Sponsor: 2 WOMEN IN FINTECH POWERLIST WOMEN IN FINTECH POWERLIST CELEBRATING MORE WOMEN = WOMEN IN FINTECH STRONGER FINTECH ECOSYSTEM Georgia Hanias, Head of Global Communications and Diversity Programmes, Innovate Finance Lawrence Wintermeyer, CEO, Innovate Finance I am a data geek but I don’t need studies to deliver to me compelling evidence that women offer a diverse and often better risk adjusted perspective to businesses. I have worked with women throughout my career and Moss Cantor’s thesis holds true for me based on my empirical experience. Though Hillary Clinton didn’t become America’s first female president, the UK has its second Influencer lists endlessly fascinate the public. women. They possess different skills and different My wife is an executive at a global industrial female prime minister, elected by her party to take People want to know about the lives of others – backgrounds yet collectively they are driving FinTech company and runs leadership development. At a on one of the biggest leadership responsibilities especially their achievements. How did they reach forward and shaping a better financial services recent executive conference, the keynote speaker, in British history to deliver Brexit. Theresa May the top? What did they earn this year? How can we future for everyone. an academic rock star, posed the question: joins Angela Merkel in Europe, a women who up our own game, do more, aim hire? “What if Lehman Brothers was Lehman Sisters”? promotes open, secular and diverse values. Our list is intended to be inclusive and to encourage Innovate Finance has built its own list of our FinTech community to step back and think about Diversity is a key programme in my wife’s Gender equality is gaining momentum across influencers– focused exclusively on women in the contribution that women make. We also want portfolio and this question really got her the world. More than 20 countries have female FinTech. It wasn’t compiled in a traditional way by women to feel more valued about the roles they play thinking, not least because global industrial presidents or prime ministers, not to mention the an elite panel of judges with the sole intention of and to strengthen their confidence by consciously companies are usually dominated by male staff. women leaders in global companies, start-ups, honouring those that have climbed the corporate making them reflect on what they’ve achieved so far NGOs and NPOs. In a world seemingly entering a ladder – although we love hearing these stories and in their careers . It might even inspire some to do This question was originally asked by period of greater social instability and economic want more women to break glass ceilings, create even more and to aim for heights they once wouldn’t Rosabeth Moss Cantor, the Harvard volatility, having women in key leadership empires and challenge prescribed perceptions of have thought possible. Building confidence and Professor, in 2010 following the financial positions may prove to be invaluable to society. power. belief in one’s ability can fuel the appetite to create crisis. She proposed her own formula: something truly remarkable. With Innovate Finance’s 2016 Women in Fintech Instead, we asked women from our sector to more women = less self-interested greed Powerlist, we pay tribute not just to our FinTech nominate themselves and to encourage peers – Innovate Finance is thrilled so many women have = less imprudent risk = more solid asset founders and leaders, but to women across both men and women- to put forward candidates been added to the list and we hope it continues to values = healthier balance sheets. institutional, government, venture capital and they felt were worthy of recognition. grow each year as we work harder to encourage professional services ecosystems that play an more women to get the skills, contacts and Quoting studies by impressive, respected important role in making FinTech successful. The response was staggering. Innovate Finance’s confidence they need to succeed in FinTech– and to global institutions she showed that women influencer list includes nearly 200 talented achieve their true ambitions. were more trustworthy, risk averse, and Thank you for your contribution in our community altruistic and could negotiate more effectively and making our FinTech ecosystem a stronger, for other people than for themselves. more resilient and better place to work. 4 5 WOMEN IN FINTECH POWERLIST DIVERSITY CHAMPIONS A VIEW FROM HOGAN LOVELLS Emily Reid, Partner and Head of Commercial & Retail Banking, Hogan Lovells Rachel Kent, Partner and Global Head of the Financial DIVERSITY Institutions Sector, Hogan Lovells Diversity is at the core of who we are and how we do CHAMPIONS business. Gender parity is a critical part of our efforts Embracing diversity is good for business. The FinTech on this front, both internally, through advancing sector prides itself on innovation and forging new our own women within the firm, and externally, ways of doing business. Without strong female with clients and the community more broadly. representation we miss out on the very diversity of thought critical to driving that. Moreover, we believe In May of last year, we launched our Empowering that the UK FinTech sector will only truly prosper if its Girls and Women Initiative which tackles gender- make-up represents the diverse customer base that based violence, promotes girls’ education, and it sells to. Indeed there are a vast array of financial supports women in business. We believe passionately products and services aimed specifically at women. that when we stand up for the rights of girls and women, we create a better future for all of us. Hogan Lovells are proud to be partnering with Innovate Finance to celebrate the fantastic women in FinTech. Inside our firm, we are proud of our long history of The women featured in this powerlist have achieved advancing women and placing women in leadership phenomenal things. However, this is just the beginning. roles. Currently 32% of all management positions at Hogan Lovells are held by women. This is in line with our target, yet we can and will do better. 6 7 DIVERSITY CHAMPIONS DIVERSITY CHAMPIONS to code. An average cohort is 35% female and through a recent partnership with Thoughtworks our last KIRSTY GRANT cohort had a female majority for the first time at 51%. SEEDRS We do everything we can to empower women from disadvantaged backgrounds, making it our priority to work alongside similarly minded organisations. Take up the process to businesses that might not Ruth for example. Ruth was a full-time single mum of otherwise have the right contacts to raise funds two children. She took a loan with the Skills Funding the old fashioned way. Crowdfunding allows Agency to take our course and asked her mum to look you to raise investment from a wide audience, after the kids while she learnt to become a developer. including the people that might be your customers, She now works as a software engineer deep in the users or followers, whoever they may be. FinTech sector with MergerMarket, an M&A platform. MAKERS ACADEMY What we perhaps didn’t predict is that women Alex Bailey, B2B Specialist, Makers Academy tend to do better at crowdfunding than men. Studies focused on rewards based crowdfunding platform, Kickstarter, show that around two-thirds Makers Academy attracts brilliant, ambitious We’re on a mission to get more female of women led projects reach their funding goals, people who are passionate about learning to founded companies on Seedrs. compared to less than a third of male led ventures. code. We accept 9% of the very best and train them in the final piece of the puzzle. We curate Obviously I want to see more female founders in There are various hypotheses as to why: from a list of awesome individuals and match them the startup ecosystem generally because, as Justin women using more inclusive and engaging with top employers looking for junior software Trudeau so succinctly put it, “it’s 2016”. But there’s language, to a suggestion that female backers talent. more to it than that: more female founded companies have an active and disproportionate bias on Seedrs is good for our investors and therefore towards backing
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