How to empower women to thrive in the fintech industry

by Tony Killeen, owner and founder of allpay

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As technology continues to advance, fintech companies are becoming more prevalent, highlighting a greater need for diversity and inclusion. Women, in particular, have been underrepresented in fintech, but allpay Limited is working hard to change that.

The fintech industry has seen significant growth and transformation in recent years. Unfortunately, women are still significantly underrepresented in fintech. According to Fintech Futures, women make up only 30% of the fintech workforce in the UK. This is a significant gender gap that needs to be addressed. Additionally, according to a report by Deloitte, women represent less than 10% of leadership – both as founders and as executive boards of fintech firms.

In the world of fintech, women have played a pivotal role in transforming the industry, driving innovation, and creating new opportunities for financial inclusion. allpay is proud to celebrate the women who are leading the charge in fintech and championing diversity and inclusivity in the workplace.

As an avid supporter of females occupying leadership roles, allpay strives for a fair balance at executive levels. As the owner and founder of allpay, I am very proud of the female directors on the allpay board, who bring a better and natural balance to the commercialism of my company. My personal view is, if there were more female directors/leaders in the UK, the country would be in a far better state than it is today.

allpay has many success stories of women who are thriving in the fintech industry. One such example is Michelle Pacey, allpay’s managing director. She believes that balance is key to any organisation and has seen how allpay supports and encourages women in leadership roles within the business. As the first female managing director of allpay, Michelle takes her responsibility seriously as a role model to a company full of talented women, and to her two young daughters. Being a working mum and business leader in a sector which remains largely dominated by males is not always an easy balance.

Michelle joined allpay in 2007 as publishing director and in 2014 she became the commercial and marketing director, responsible for sales, marketing and PR for bill payment and prepaid products. From January 2018 to July 2021, she also held the position of director of card services. In 2021, she became managing director, and now reports directly to the owner, and leads an executive team of six board directors. She is a role model to other women in the organisation, providing guidance and support in their professional development.

In total, there are 126 women working in allpay, which makes up 46% of the workforce. Including Michelle, allpay have 31 women in leadership roles across the business, which accounts for 48% of all of the available leadership roles. Providing opportunities for women to thrive in the industry, allpay is setting an example for other companies and making a positive impact on the future of fintech by investing in women and trusting their capabilities.

As well as providing opportunities for women to thrive in the industry, the team work hard to make women feel comfortable in the work place. This year, our Mental Health Team organised a drop-in session to give people across the business a chance to learn about menopause and understand how to help those going through it.

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Tony Killeen is the owner and founder of allpay.

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