FiFF recognises the influence of leading women in fintech

FemTech in Fintech Forum (FiFF) is the premier networking forum that
celebrates, promotes and entrenches the activities of women in financial
technology industry in Africa.
FiFF creates a positive arena where leading women come together to discuss
issues relating to leadership, female-led founders, bridging the gender gap,
pushing diversity and inspiring the future generations of girls into the fintech
sector.
FiFF offers intimate woman-to-woman networking, where women could
connect, create and celebrate each other. FiFF is co-located in the Lagos Fintech
Week.

The Fintech contradiction

While the 80 per cent of household spending and financial management
decisions are taken by women, the only seven per cent of FinTech organisations
employ female executives.
The 73 per cent of women globally report dissatisfaction with their banking
services while 80 per cent of women-owned small and medium enterprises
[SMEs] with credit needs are unserved or underserved according to the Global
Banking Alliance for Women.
So it’s clear that there is a large percentage of FinTech users are female.
However, the 2016 Stack Overflow Developer Survey reported a dramatic,
shameful gender disparity between

Female underrepresented

Women are also underrepresented in executive talent pools. Out of the 38
FinTech companies that raised venture capital funding in Africa in 2018, non-had
a female chief executives.

As one FinTech journalist points out: “Spend enough time on the Fintech
conference circuit in Nigeria and you are likely to grow used to the sector’s
idiosyncratic male-only panels, sea of suits and smart Naija queues in front of the
men’s restrooms”.
All of this demonstrates the inherent contradiction within the FinTech mission. If
the objective is to revolutionise the financial services industry and to have a
better understanding and serve customer needs, which, as we’ve seen, are
largely held by women, then shouldn’t those that create these products and
services involve women at all the stages?
Yes. Because the women have so much to contribute to any organisation; be it a
startup or an established company, especially in the FinTech sector.

FiFF Agenda

Accelerating the gender inclusion
FiFF will bring together the most important women in the Fintech space: founders, regulators, VCs, and executives to address specific issues
that will accelerate the most important inclusion in Fintech…the gender inclusion. The following specific issues to be addressed include:

Work-Life Balance

Work-life balance is important for
everyone but particularly for women.
The startups provide a degree of
flexibility that suits the working life of
some women who wish to balance the
scale of being a successful
entrepreneur and innovator with the
responsibilities of motherhood.

Peer Support

Lack of peer support is a key factor for
female in Fintech. There are so many
male entrepreneurs and startup
founders who can easily reach out to
existing contacts in the market to
discuss funding and growth
opportunities. The female counterpart
does not seem to have the same
leverage.

Access To Required Technological Skillset and Learning

Achieving the required technological
skillset and learning is a broader
challenge. We don’t see the same
levels of female participation because
many women are not so comfortable
with technology, especially in the
region of the blockchain, AI or
robotics. That is purely down to
education and the start that young
women receive.

National Agenda

Without a doubt, we should absolutely
make this a national agenda rather
than something a group is trying to
change. The world is a better place
with women in the workplace. Women
bring balance. Women bring emotional intelligence. Women bring skills that
aren’t available in the market. As such,
women deserve to be successful.

Femtech in Fintech Awards (FiFA)

1. The Diversity Award (TDA)

TDA is going to an organisation that can successfully demonstrate its support,
promotion and embracing of diversity and inclusion by meeting the following
criteria:

  1. Have more than 30% female on the executive level
  2. Have more than 30% female on the senior management level
  3. Have clear policies of promoting diversity and inclusion
  4. High integrity, ethical and professional standards
  5. Demonstrates a positive environment that promotes the nurturing of talents
    and mentorship
2. The Pink Chip Employer Award (PCEA)

The PCEA Award will be awarded to one organisation that can successfully
demonstrate that it is the best place to work for female employees based on the
policies and environment of the organisation meeting the following criteria:

  1. Demonstrate flexibility with work policies especially for working mothers
  2. Is rated the best place to work for by more than 70% of employees
  3. Have clear policies of promoting diversity and inclusion
  4. High integrity, ethical and professional standards
  5. Demonstrates a positive environment that promotes nurturing of female
    talent
  6. Have internal female mentorship programme
  7. Encourages female leadership development
3. The Individuals

Three different awards will be given to outstanding women and leaders who can
demonstrate clear leadership, mentorship, integrity, ethical standards and
professionalism, and continue to make positive contribution to the industry. These
individuals have to meet the criteria indicated in each award.

  1. Fintech Woman of the Year 2020
    The Fintech Woman of The Year award is a lifetime achievement award that will go

to one woman who meets the following criteria:
  a. Have made tremendous contribution to the industry
  b. Must be a well recognised leader in the industry
  c. Must be an advocate or evangelist for diversity and inclusion in the industry
  d. Known for being a positive mentor to fellow women in the industry
  e. Has high integrity, ethical and professional standards
  f. Must be an innovator or is well known to have set a trend in the industry
  g. Plays a very visible role in the industry
  h. Must be a known payments evangelist

ii. The Young Innovator (TYI) 2020

TYI will go to two women under the age of 45-year. They must be able to
demonstrate innovation that has been spearheaded by them or is in the process of
being implemented at the time of nomination. TYI go to women who have met the
following criteria:
a. Have high integrity, ethical and professional standards
b. Must be innovator or famous for setting trends in the industry
c. Play a very visible role in the industry
d. Famous payments evangelists
e. Advocate and very active in the industry to promote, showcase expertise
and share about a specific subject matter

iii. The Positive Trouble Maker (TPTM)

TPTM will go to one woman who has been, and continues to, be very vocal in the
promotion, diversification and inclusion in the industry, advocates of safe
environment. She is known as the go-getter. TPTM will go to one woman who
meets the following criteria:
a. Holds high integrity, ethical and professional standards
b. Known as the go-to person in the industry
c. Doesn’t hesitate to loudly advocate, promote and fight for diversity in the
industry
d. Famous payments evangelist
e. Plays a very visible role in the industry
f. Goes the extra mile to create positive environment to encourage innovation,
diversity and leadership

Enter the Femtech in Fintech Awards (FiFA)