Women continue to be underrepresented in the technology space – but perspectives are changing.
Despite efforts to diversify, women remain underrepresented in the technology space — particularly in coding and upper management. Prioritizing diversification has been an uphill battle with so few women in the field to advocate for representation.
This key challenge, and how to tackle it, was among the topics discussed at Bloomberg’s Women in FinTech event in New York last year. Panelists, all high-ranking women in financial technology, offered some thoughts and advice on what needs to be done, as well as how they got to their roles today.
The good news is that many of the hurdles faced by women in financial technology are cultural expectations and those perspectives are changing, according to the panelists.
“Women were construction workers, factory directors, astronauts and scientists and anything else you can imagine [in Ukraine]. There are also a lot of women leaders around the world,” she said. As women take on a wider variety of roles in different arenas and with the rise of globalization, the concept of women and their capabilities may change.
Prepare future leaders by building a community today
On practical ways to improve the male-female ratio in the technology field, the panelists went on to point out the importance of starting early and encouraging girls to pursue their interest in science and technology with their friends and peers.
Altshuler gave a prime example. As a mother to both a son and daughter, she has made efforts to expose both her children to programming and technology. But while her son is thriving and says he wants to be an engineer, her daughter says she would rather be a dancer.
This is a problem that continues to plague the current-day workplace. Because technology, and FinTech in particular, doesn’t have a strong female community, it can be difficult to attract more women to the field.
Programs that encourage women to get involved in technology are key to creating that community and bringing more girls and women into the fold, panelists said.
An active mentor to other women and girls now, Altschuler encourages women to focus on the work. “I didn’t realize I was the only woman in the room for years. It didn’t matter because we’re all people. On a day to day basis, just push forward because you know what you bring to the table,” she said.
Rely on own capabilities to take on new opportunities
The panelists also encouraged event attendees to foster their individual capabilities and seize opportunities.
Sandra Behar, Director of Anti-financial Crime Risk and Controls, Regional Head of Deutsche Bank, advised participants to check in with themselves and make sure they love what they’re doing. “We spend so many hours at the office — more than what we spend at home or with our families – so we should be doing something that we like,” she said. “Unfortunately, sometimes as women, we have to prove ourselves more than men,” she added.
Another panelist, Colette Garcia, Head of Service Delivery at Bloomberg, emphasized not shying away from new challenges.
She related her own experience moving to Hong Kong for a job, even though she had never visited Asia.
“To say I was terrified was an underestimation,” she said. “There are 40-50 examples of moments that were similar to that, where I really wanted to say no but then there’s a part of me that says ‘sure, try it.’ It might not all work out, but you learn so much and just embracing and having had those experiences is definitely a key factor,” she said.
Recognize the value of perspective
While new opportunities can help women build experience, women can add value to less diverse spaces by bringing a new perspective to the team and the work. New perspectives help bring out better results for everyone involved.
“Lack of diversity and ideas constrain people,” said Gerard Francis, Head of Enterprise Solutions at Bloomberg, comparing his experiences working in a very diverse office in Singapore to a homogenous office in Tokyo. “Every time we had a diverse team, that team dramatically outperformed those that were homogeneous,” he said.
