Rising up in payments

Empowering women in FinTech

Christine Lagarde, Director of the IMF, has said a number of times that if it had been Lehman Sisters rather than Lehman Brothers, the world might well look a lot different today, as the male-dominated financial services industry had indulged in high risk-taking. While the Lehman Sisters theory has been questioned by a few studies, lots of research suggests that more diverse leadership teams make better business decisions, leading to more profitable companies.

This is something we have always believed at TransferMate, where five of our most senior positions are filled by women and we welcome employees from many different sectors and walks of life. Our focus is on nurturing the right skill set and working environment – and celebrating all achievements. We have always aimed to create an inclusive environment where everyone can be themselves, and allowing them to build rewarding careers whatever their background, is the cornerstone of the TransferMate ethos.

A key driver of TransferMate’s growth is innovation. But the quality of our people is crucial to finding and developing that innovation. The calibre of the team leading and working in TransferMate has been paramount to our success and attracting and retaining this highly skilled talent is a key focus for the management team. Given the speed of developments in the FinTech industry and with the scarcity of technical skills globally, there is a real war for this talent. Our staff numbers have increased 100% in the last nine months to just under 300, and while slightly more than half of our staff is female, we recognise that this is not the case across the industry.

We are delighted therefore that Money20/20 has created Rise Up to address the broader gender imbalance in leadership positions within the Financial Services and FinTech industry. Plans to help tomorrow’s female leaders develop their career through networks and mentors is something we at TransferMate strongly support.

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