Report: 2018 will be the year of ‘women’s revolution’ in fintech

According to statements by Saxo Bank, women will break the glass ceiling in 2018 and will gain top positions and will rewrite the status quo in fintech.

According to Saxo Bank head economist Steen Jakobsen, “women have been under-represented for a long time in power structures,but this will change and will do so rapidly in 2018, as increasingly more women are taking the helm of some of the biggest companies in the world. The revolution will start not out of a desire to fix a historic wrong, but, rather, out of an unquestionable economic obligation,” Jakobsen said.

In 2018, there was an exponential increase of women’s presence at board level. Twice as many women have become CEOs of Fortune 500 companies. In the US, there are now 50 percent more women graduates of colleges and almost half of those who receive their drivers’ license are women.

Moreover, in the developed countries there are 7-10 percent more women who vote, which makes them a very relevant factor. However, in 2017, only 6.4 percent of CEOs in Fortune 500 companies.

According to Jennifer Hansen, strategy head and global sales with Saxo Bank Group, worn will redefine the status quo in fintech. “Adoption of technology in fintech is reinventing the sector, and in other words, is disrupting the status quo. Unfortunately, this positive disruption is not felt at the level of gender diversity in financial services and technology. For these sectors to reach their maximum potential, this aspect should be solved.

“The best approach,” Hansen argues, “is for girls and young women in schools and universities to be encouraged and inspired to regard technology as an interesting technology that can bring a lot of satisfaction. Briefly, concerted efforst is needed to attract more women to the technology field”.

According to the Saxo Bank report, women continue to play a crucial role not only in business, but also in governing. Given that more and more women choose to create their own path as decision makers in the industrial sector, as business leaders, entrepreneurs and investors, the study predicts that the number of women working in fin tech will also increase.