We have all heard it, and we all know it, diverse teams perform better. A Boston Consulting Group Study recently presented a report stating that diverse management teams have 19% higher revenue due to innovation. This is especially true for tech heavy industries where changing is rapid, as in the payments industry.
Diversity is so much more than gender, race and ethnicity. It also covers diverse religious and political beliefs, education, socioeconomic backgrounds, sexual orientation, cultures and disabilities.
Out of those, gender equalities is a big issue in the corporate world. There is no lack of research confirming that companies with more women in the C-Suite are more profitable, but there is still a gender gap in a majority of companies.
You might have heard of the “fun” fact that There Are Fewer CEOs Who Are Women Than Men In Leadership Roles Named David and clearly we have an issue when a single name outnumbers an entire gender in leadership.
Why are we bringing this up in in the newsletter? It’s not because it’s this weekend is international womens’ day, but, yes we have to admit it’s timely. No, its’ because EPA Asia has put diversity on the agenda as one of the key themes to focus on.
Last year the EPA Asia hosted over 30 events across the region attended by over 1,000 participants. Predictably, attendance at these events was male-dominated, and we would like to level this up!
So, hence we have set a target of 30% female participation at all of our events, and we all know that what gets measured gets done!
Last weeks events in Sydney did see a 26% female participants, so we are still off target but with a vast improvement from last year’s single-digit numbers of attendance.
We know that there are lots of female brilliance out in the payments ecosystem and we are determined to bring them into the EPA Community.
We have launched a new event called MeetHer which is a series of lunch events where we bring together a small group of women who are excelling in their discipline, to meet each other, exchange insights and knowledge between regions and areas of the payments value chain. The aim of the events is for each individual to walk away with new connections for further collaboration and partnerships and for us to increase the female participants in our community.
The inaugural MeetHer took place on the 26 March was sponsored by DXC Technology, who are an EPA Asia Benefactor Member. Ten senior business leaders, founders, CEOs and entrepreneur power women leading in the payments industry and ancillary services in Australia came together to discuss e-payments, open banking and beyond. As the international MeetHer host EPA Asia presented Mary Ann Francis (Global Head of Strategy for Payments DXC). Mary Ann shared insights from her 40 years career in financial services and payments, and compared where we were in Open Banking as one of several hypes that she experienced in her career similar to blockchain a few years ago and digital payments a decade ago. The group were divided on what the outcomes from Open Banking can become, some believed it’s a game-changer while others took Mary Ann’s approach that it’s the new new which will soon be the business as usual. One opinion that the group shared was that more Female initiatives are still needed for women to be seen and heard not just by other women but by the industry.