Women In FinTech: don’t be afraid to ask for change

The 2017 Powerlist has now been revealed, celebrating the contributions that women make in shaping the future of FinTech. We spoke with Lisa Moyle, Portfolio Director of InsurTech Rising, about making the list and her light bulb moment. 

How did you start your career?

I started out working for the Women’s Environment and Development Organisation which was founded by Bella Abzug. Bella was a well-known activist and feminist in the US, as well as a former congresswoman. She and the organisation were involved in a lot of interesting and  inspirational projects and  It was there that I first became interested in the ways in which women access financial services and the link to empowerment.  Even though I moved on fairly quickly to a job at Standard & Poor’s in the Sovereign Ratings group, I remained interested in the ways in which financial services can be transformative both at a broader economic and individual level.

What sparked your interest in FinTech?

I spent a few years working for a financial services think tank that focused on financial innovation which, post crisis, really came to mean alternative finance or what we would now call FinTech. I also was the Head of Financial Services & Payments at techUK at a time when FinTech really started garnering a lot of attention. A lot of start-ups began cropping up in a sector where the barriers to entry had previously been very high. Technology has certainly started to bring those barriers down, creating greater competition and the pace of innovation increased. Working, from a policy perspective, on initiatives to best support the development of the FinTech sector really cemented my interest.

It is hard not to be fascinated by the ways in which entrepreneurs leverage technology to create products and services and the potential to better serve consumers. Looking at FinTech in Africa, for example, when I have been focusing recently, the potential impact of FinTech on poorly or under served communities is really exciting.

What was your light bulb moment?

When my children were all in school full time and I realized that I was entering a new phase in my career. Suddenly the balancing act became a bit easier and, on a good day, it all felt more manageable!

What inspires you?

People with great ideas who can make us all think in news ways about both about technology and  financial services.  With that has come (in many but certainly not all places) more flexible notions around how and where we work that can deliver real benefit to how we all strike the best balance between work and everything else.

Why is the #WomenInTech movement important?

It is important that we support woman through all the  stages of their career and creating strong networks can really help.  In industries where there are not large numbers of women (both financial services and technology) we can help change that by showcasing woman who have succeeded in those industries, signposting the career options to the next generation.  The rate at which girls drop STEM subjects at a certain age remains a real concern and creating a network of positive role models, coupled with a set of good policies, can make a difference.

I also believe we have a duty to try and change practices that have been created with no reference to the needs of a diverse workforce who shouldn’t have to just accept that things ‘are how they are’.

What piece of advice would you give women starting their careers in FinTech?

I’m always reluctant to give advice because different things work for different people but I would say don’t be afraid to ask for change and definitely be a bit of a squeaky wheel.