Julie Muhn chats to Rita Martins, FinTech Partnerships Lead – Innovation Finance and Threat at HSBC about her expertise as a lady in fintech, tendencies she’s seeing throughout the trade, and what will be completed to encourage extra feminine founders.
Inform us about your self and your profession path to your present position.
Rita Martins: My profession began with an internship at Santander in Asset Administration managing blended portfolios. After a couple of months, a fantastic alternative got here as much as be a part of the consulting world. Working at Ernst and Younger and later at Accenture, I travelled the world driving massive scale transformation initiatives and advising C-Suite on the applicability of recent applied sciences in finance. Throughout this time, I began diving into the fintech world and noticing first-hand how fintechs have been making a distinction in growing international locations (regardless of difficult circumstances, everybody had a telephone and used it for funds).
In 2018 I moved to HSBC, the place I presently Lead FinTech Partnerships for Finance and Threat. I’m accountable for managing relationships with third events and driving collaboration between fintechs and conventional monetary providers SMEs.
What tendencies are you seeing driving fintech this yr? Are they completely different to earlier years, or once you first began within the trade?
Martins: These days, fintech corporations are far more mature than once I began within the trade. Fintechs found the place they will have an effect and when to companion with others out there.
This yr we proceed to see fintechs rising within the Synthetic Intelligence (AI) and Cloud areas. Moreover, there’s a new development in ESG (Surroundings Social and Governance), with many new fintechs researching and growing options on this area.
In your opinion, what’s the secret to a profitable partnership between financial institution and fintech?
Martins: There isn’t one issue however a mixture of things that result in a profitable collaboration. Earlier than a partnership is created, each events want to grasp if their tradition, objectives, and technique are aligned. A perfect companion shall be somebody who enhances the opposite and brings new concepts to the desk to make sure continued innovation.
After papers are signed, there must be an open and frequent dialogue to make sure points are rapidly solved, targets are met, and any adjustments wanted are settled.
What’s necessary to you to see from a fintech chief/ founding father of a brand new start-up you’re seeking to work with?
Martins: A fintech-bank partnership is far more than discovering nice expertise; human interplay is important. When searching for new companions, the fintech chief or founder is usually the one representing the corporate, so within the preliminary discussions, we’d be taking a look at a mixture of things:
- 1. Their data of the expertise and trade
- 2. Their values and the way they join with our group
- 3. How progressive they’re and what new concepts they bring about to the desk
- 4. What their objectives for the partnership are, and the way versatile they’re
Do you see many ladies main fintechs or in senior positions? Is there sufficient range throughout the board in these roles?
Martins: No, there’s nonetheless a noticeable lack of ladies and minorities in senior positions and even fewer girls founders.
Sometimes, girls who work in fintech may have roles in gross sales, communications, or advertising and marketing with a noticeable hole within the expertise and senior roles.
So, what can the trade do to higher encourage girls to get entangled with fintech?
Martins: I’d problem the trade to do extra on the senior degree. These adjustments will empower younger girls to affix the trade, retain present leaders, and reduce the pay hole.
Two key areas that want fast change are:
- Extra funding wants to enter female-founded fintechs. In 2020, solely 2.3% of VC capital went to female-only based start-ups (in response to Crunchbase)
- Banks and fintechs boards and management should be extra various. In 2020 girls represented solely 14% of fintech boards (in response to Oliver Wyman)
Hearken to extra from Rita as she seems again on her expertise at FinovateEurope 2021 beneath