For me, Women’s Day is a powerful moment to reflect on progress we've made, to consider and celebrate our collective value and contribution to our communities, tribes, and workplaces. One inspiring leader that champions gender equality and diversity within the FinTech industry is Gemma (Young) Livermore, Women of Fintech founder. I had the honor of interviewing for #IWD2025. In our Q&A, we explore progress, proud moments, ongoing barriers, the impact of economic downturns, STEM projects, effective strategies for advancement and a key take away.
As the Founder of Women of Fintech in 2017, have you seen a vast amount of change for embracing women, or diversity more generally, in the fintech industry?
Yes, I have seen huge amounts of change. Is it because people wanted to embrace DEI? Not all of it, no. I think a lot of it was thanks to COVID. It opened that shift to hybrid working, which has particularly benefited women, giving them the much-needed flexibility that they had long advocated for. But this change isn't just about the benefits it brought to women with families; it also supports family caregivers who are trying to balance careers and, for example, neurodiverse individuals who may thrive better in less busy and noisy environments.
I’ve also seen a lot more around ‘movements’ or the 'coming together' of women. Obviously, I see much of that through Women of Fintech, but I’ve seen it in other communities, in other ways. It's that sharing of information, knowledge, experiences, and support that I think has really swung a lot.
Can you share a success story, or a milestone achieved by Women of Fintech that you're particularly proud of?
Many people in financial services come from similar backgrounds, limiting diversity and new perspectives. This approach doesn’t challenge traditional financial service models and improve how we work with money. So, I have two stand out moments:
(I) The pandemic was a pivotal moment for Women of Fintech, when we banded together to support children who lacked devices for remote learning. Partnering with banks and fintechs, we donated laptops to help bridge the educational divide and promote social mobility. While we didn't solve the issue, I'm proud of our efforts to contribute to diversity and inclusion.
(ii) We also look for opportunities without commercial benefits. For example, a young woman who had just graduated in fintech was looking for speaking opportunities. While many wouldn’t have given her this break due to her very limited experience. We helped her join panels where her fresh perspectives greatly enriched the discussions, bringing completely new viewpoints and ways of thinking. She’s since landed a promising PR job, sits on panels, gives keynotes, and continues to grow. Helping such talent helps elevate diverse voices in our industry.
While the WEF Gender Gap report states the gap has closed to 68.5% (up 0.1% on 2023), LinkedIn’s 2024 research data indicates that women represent only 42% of the global workforce and 31.7% of senior leaders. What are the biggest challenges or the persistent barriers that women still face in the workplace today?
What I'm hearing is many women facing challenges due to a lack of diversity in recruitment practices. If companies continue to advertise in the same places, they will attract the same candidates, limiting change. Additionally, many are held back by recruitment specs that call for specific qualifications, sidelining those with very valuable and transferable skills.
I think women also face unnecessary asks about how they will balance work and family life—questions that men rarely encounter. Reports, such as one from Culture Amp, highlight how women’s interview feedback often focuses on personality traits rather than comparative skill sets.
The report also indicated that worsening macro-economic conditions are linked to a decrease in hiring women into senior leadership roles. What’s your take on this, what do you think sits behind this?
Worsening macroeconomic conditions often lead companies to tighten their belts, and hiring women into senior leadership roles is usually one of the first casualties. Many D&I communities are shutting down due to reduced support and funding, as businesses focus on short-term survival rather than long-term impact. Here’s why this happens:
- Short-term Thinking: When businesses are focused purely on survival, diversity and inclusion efforts are pushed aside. Ironically, diverse leadership often helps companies better navigate crises and emerge stronger.
- Old-School Leadership Bias: There exists a perception that crises require “strong” and “experienced” leaders, traits often linked to traditional male roles. This viewpoint can lead to the underrepresentation of women in key decision-making positions, especially during critical moments.
- Fewer Opportunities: Cost-cutting leads to fewer leadership roles, making it even harder for women to break into senior positions.
- Work-Life Pressures: Economic downturns increase workloads and job insecurity, leading many women, who juggle work and caregiving, to retreat from leadership roles.
Cutting diversity initiatives during tough times is a mistake. Businesses committed to diverse leadership not only survive but emerge stronger and more innovative. Now is the time to double down, not retreat.
The report stated that the higher women’s representation in the workforce is, the greater the resilience to retrenchment during economic downturns. Why do you think that is?
Diversity of thought. If you put the same in you get the same out. To navigate uncharted waters like uncertain times you need diversity of thought to problem solve, and I’m not referring to women only here but all diversities. The result can be quite different.
Sticking with research for a second… and I know this one is close to your heart… according to LinkedIn data, women’s representation in both science, technology, engineering and mathematics (STEM) comprises only 28.2% of the workforce compared, rising to 47.3% in non-STEM sectors. In your opinion, what needs to happen here?
This must change from a grass roots level. A personal anecdote: in Tunbridge Wells where I used to live there was a boy’s grammar saying ‘Boys School for Science, Maths and Technology’ and a girls grammar saying ‘Girls School for English and Music’. Imagine the subconscious impact of seeing those signs daily! My daughter joined but left a coding club in primary school because she was the only girl. We need to:
- Make subjects gender neutral from an early stage.
- Create visibility of women in those roles, think banking or AI. We all need to inspire and change that norm by showing women in those roles.
- Companies should also share these roles in communities like Women of Fintech, where women with transferrable skills are likely to see them, creating a bigger, more diverse pool of candidates.
Could you discuss effective strategies that companies can implement to support the career progression of women?
- If you’re on a panel that’s all men, question it. Give women a voice.
- Inform women of what progression is available to them in the company and how they can achieve it.
- When hiring or promoting, ensure you have diversity in the mix for that opportunity
- Make certain you have equity policies, covering maternity and menopause, aimed at retaining women, not losing from them business during these stages.
What role do you believe men should play in levelling the playing field?
Encouragingly, when I founded Women of Fintech, it was men who were the first investors, illustrating that many men are in full support this movement. Because equality affects us all, it needs to be tackled by all. So, bring diverse opinions into every conversation where there isn’t a diverse voice - whether that be on a panel, in a meeting, or in a hiring cycle.
Plus, there is ROI on equality, so why would anyone not want it?
- Higher Profitability: Companies with at least 30% women in leadership positions are 12 times more likely to be among the top 20% for financial performance. - Forbes
- Superior Returns: Organizations with female executives are 30% more likely to outperform those without, highlighting the positive impact of gender-diverse leadership on financial outcomes. - Forbes
- Higher Equity Returns: Companies led by women CEOs have generated a 223% return on equity over ten years, compared to 130% for those led by men. - DigitalDefynd
- Untapped Market Potential & Increased Financial Inclusion: Fintech companies focusing on women’s financial inclusion can capitalize on the under-tapped women’s market, boosting bottom lines and contributing to greater financial inclusion. – International Finance Corporation
What has been your most valuable lesson in advocating for yourself or for women in the workplace?
“One voice is small, but many will get heard - community is key.”
In the spirit of International Women's Day, what message or advice would you like to send to women around the world aspiring to make a mark in the financial services industry or any other field?
Find your support group - your tribe - join a community like Women of Fintech where people will help you achieve your goals and magic will happen!
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