Gender Agnostic Fintech Space Inducting More Women Entrepreneurs
"I think fin-tech will be even more gender agnostic in going forward."
When money and technology is gender agnostic, then any space of the business cannot be gender bias towards women, be it fintech. However, the smart phone penetration happening rapidly across the country and fintech has become a vibrant space before and after the demonetization. Now we see more number of women entrepreneurs venturing in fintech space.
“I do think there is a very good understanding of technology especially among women entrepreneurs. I definitely see more women entrepreneurs in fintech. I think fintech will be even more gender agnostic in going forward”, said Bala Deshpande, MD, NEA, during Fintegrate Zone - FintechThought-Leadership Conclave in Mumbai.
The long traditional debate over lesser number of women participating in the financial businesses or entering the fintech space has been mitigating slowly and steadily especially in the urban part of the country. There is no more talk of absence of women entrepreneurs instead the focus is on their competencies and equipping them to be more competitive and exploring the potentials.
“Representation of women in fintech or using fintech is much higher in urban India with mobile penetration and other factors. Many companies that we have funded have the representation of women close to 50 percent”, added Bala Deshpande, MD, NEA.
Indian women are very good money manager, responsible investors and wealth creators in the world. In the fintech space women can be a great leader and rise to the top of the hierarchy with the help of regular mentorship. Compared to past investors are also not discriminating between men and women founder and co-founder. Also in fintech the women entrepreneurs are trying to get more attention as there is less number of women.
“I don’t think investors discriminate among men and women entrepreneurs as money is truly gender agnostic. Also women do take efforts for their businesses. Like every great leader has been mentored by one or perhaps several mentors, similarly if we will make mentorship regularly available to women then women will rise to the top leadership. When we ask our organization to support us it is also important that we also ask our families to support us. And that is what women need to learn”, said Bhargavi S, Founder & CEO, FinMitra.“Women are very responsible investors and money manager. In the country larger banks are run by women. Overall our 10 percent workforce is women. Over the last decade I have seen the proportion of women is increasing in finance and banking. There
is a sort of a gap in the middle management right now”, said Deepti Sanghi, Vice President- Strategic Alliances, MoneyTap.
Also to be declined that while mentorship is very important part of life some women entrepreneurs are inherently not going and asking for it. They don’t understand and acknowledge the importance of mentorship.
“Women need to speak out and speak for themselves. Women have been criticized because they are very aggressive. In corporate while being surrounded by men board members, women behave like a women but think like men to make their point heard”, said Monica Jasuja, Head of Digital Payments, MasterCard.
In India Inc the participation of women as an entrepreneur and board of director is just 8 percent compared to 33 percent globally.