What advice would you give to women who want to enter the world of finance?

By Nicole Meyers, VP Strategic Account Management at Personetics

In my experience, gaining expertise in a specific area within fintech is paramount. When you are the resident expert within an organization, business issues and deal flow come naturally to you.

As I rose through the ranks, I witnessed the disparity in how women hold up in terms of pay and promotions compared to their male counterparts. According to this April YouGov surveywomen ask disproportionately and are statistically less likely to receive, salary increases than men, which shows the persistence of gender disparities.

My advice to women would be to bring rare expertise. It makes your value irrefutable and can boost your confidence when negotiating.

  

What barriers do women face in this industry and why are there so few women in leadership positions in fintech and banking?

Entry into the fintech industry is limited. Finance and technology are male-dominated industries and rely on a quantitative education that attracts more male students. Yet, there are so many types of opportunities in the field. I believe that women are largely unaware of the different career paths available in finance.

While access is a major barrier at all levels of the pyramid, women who did not start their careers in finance or IT must take greater steps to obtain the same qualifications and pay as their counterparts. masculine.

For all companies, diversity is essential in order to bring in new ideas and perspectives. Prior to joining Personetics, I worked as a consultant for McKinsey & Company in financial and social services industry practices, which helped me drive product development here and embed ESG practices into our business. Our latest expense-based carbon footprint solution is a great example of an environmentally-focused product brought to market due to diverse backgrounds at the decision-making table.

Who do you admire in the industry?

I seek inspiration from leaders who embody my tenacity and my values. The female CEOs of our partner banks, such as Jane Fraser, CEO of Citigroup, are paving the way for more women to lead the global banking system. I also seek inspiration from women leaders who continually push the boundaries of finance and social good. Jessica Jackley, the co-founder of Kiva, the world’s first crowdfunding site for micro-businesses, is someone I’ve always looked up to.

This is why representation is essential in this industry, so that women can have role models to help bring about change..

What led you to enter the world of finance?

I entered the world of finance through a side door – micro-finance. After traveling to East Africa as a teenager, I became obsessed with the idea of ​​using finance to create opportunity.

Fintech contributes to this by helping to make banking economically viable for underserved communities. The world of finance is constantly developing solutions for its clients that open up opportunities for people, and I wanted to be a part of it.

How does Personetics contribute to inclusivity?

Personetics is focused on providing inclusive financial advice, which is race and gender neutral.

Our information is generated using customersdata on the financial transactions of s. If the data shows risky financial management or excess liquidity, the system will choose and share an appropriate message with each customer. Our AI models are trained on customer data from around the world. As a woman, my financial needs are still unique, I want objective and solid ideas and advice. No caveats. Personetics offers this objectively to over 120 million customers worldwide.

What myth would you like to bust about women in finance?

The myth that women in finance are lone wolves or hard to work with. This couldn’t be further from the truth! At Personetics, we have several female leaders and we have a proven track record of transforming student interns into business leaders.

What do you see in the future for the fintech industry?

I see fintech entering every industry, even the most tech-averse ones like sanitation and construction. Advances in fintech have the ability to touch every corner of every industry, from using AI to help manage finances, to giving personalized recommendations to business owners.

Financial institutions that don’t embrace the technology aspect of personalization quickly lose their competitive edge.

Within consumer finance, personalization will become a central part of every financial institution’s organic growth plans. It’s natural for businesses to evolve with technology, and for banks, delivering a unique and personalized user experience using technology will be the big differentiator between winners and losers.

I also hope to see more progress in fintech with social issues. a decade ago, there was a lot of momentum around social issues in business and I want this to also be at the forefront of the fintech industry to bring about meaningful change.