Open Banking Expo establishes its ‘Women in Open Banking’ industry initiative to encourage more female figures to lead the rapidly expanding sector.
Developed through its partnership with American Express, the initiative was officially announced at London’s Open Banking Expo, which was held in the UK capital this week.
Seeking to address gender parity in the financial industry, its founders are to host quarterly briefing breakfasts and roundtables as part of the initiative.
These events are expected to be accompanied by a series of mentoring workshops held with trailblazers of the open banking, open finance and open payments world.
The Expo’s initiative intends to act as a platform for role models and female leaders in open banking.
Expressing the role of the initiative as “vital,” Holly Coventry, vice president of international open banking payments at American Express, emphasises the various challenges women in financial services face when it comes to being recognised or given opportunities to advance their careers.
“Gender equality at all levels across the business is at the core of American Express’ culture,” comments Coventry.
“We have made huge progress in the number of women in senior management roles, and the range of different perspectives and experiences they offer,” she confirms.
“At a personal level,” continues Coventry, “I believe this initiative will work to help women rise up and realise their potential.
“At a wider industry level, it will enable us to showcase the diversity of talent and thought, unlock creativity and innovation in the sector, leading to more inclusive products and services.”
According to the Expo’s official statement, the first Women in Open Banking breakfast briefing will take place ‘in early 2023’.
The quarterly mentoring workshops are also expected to begin around the same time next year.
The first cohort of the Women in Open Banking programme will be given opportunities to attend local industry events and participate in the Open Banking Expo Unplugged podcast.
“Sadly, women still form the majority of the under-represented groups across financial services,” added Expo co-founder, Adam Cox.
Speaking on the end goals of the initiative, Cox explains how “we hope to change the odds by helping remove barriers to entry, accelerate growth and personal development through impactful mentoring opportunities,
This, he says, is to ultimately make open banking and open finance “the industry of choice for future leaders and change-makers.”