Gender inequality stands as a barrier in the global fintech industry development.

women are underrepresented in senior business and technology roles at global fintech companies.

FREMONT, CA: According to a Fintech Diversity Radar report, women are underrepresented in senior business and technology roles at global fintech companies. Findexable, a global fintech think tank, compiled by fintech Diversity Radar presented that 1.5 percent which is nearly 16 of the 1,032 best funded private fintech firms globally are founded solely by women and receive only 1 percent of total fintech venture funding. Women make up 11 percent of all board members and 19 percent of company executives, according to research. The position of chief people officer or head of HR is held by the majority of women in the sector that is 26 percent, followed by chief marketing officer and chief financial officer. Women make up 5.6 percent of all fintech CEOs globally, with less than 4 percent holding the title of chief executive officer or technology officer.

The report analyzed the role of women in global fintech and how the industry can create more balanced, inclusive, and representative businesses that are ready for the future. The study includes data from over 1000 of the world's best-funded privately held fintech firms, as well as 36 in-depth interviews with founders and senior executives from large financial service providers. Insights were also gleaned from a survey of 250 employees working in the financial services industry. Today, global prosperity is much more evenly distributed than ever but still the data shows this huge imbalance amidst women and men in innovative financial services firms, stated Simon Hardie, CEO and Co-founder of Findexable. Fintech stands as the main enabler in the digital economy and the sector acts an outsize role in reducing economic exclusion and enabling digital transformation.