Opinions expressed by Entrepreneur contributors are their own.
With an experience of over two decades in finance, Wissam Khoury leads APAC business as senior vice-president and general manager of Finastra. Entrepreneur APAC interacted with Khouri to understand his innovative open banking and digitization of the sector. Here’s what this fintech operator believes and has experienced throughout his journey.
Emerging fintech trends amid the pandemic
The pandemic has accelerated requirement of digitalization and brought the future forward, though even prior to the pandemic, the pace of digitalization was fast. The emergence of fintech has resulted in huge possibilities to share information with third parties. According to Khoury, “These possibilities are centred around the creation of smaller fintech organizations which can utilize this financial information in order to create user-friendly solutions which are targeted for several reasons.” Increasing customer satisfaction while ensuring competitiveness across financial services
The fintech industry has long been dominated by male founders. New research released Thursday highlights this ongoing gender disparity.
At the same time, the Deloitte report offers a glimmer of encouragement for women-run fintech start-ups—and suggestions for leveling the playing field.
The analysis shows that women-founded startups and those co-founded with men comprised 12.2% of the 3,017 fintechs in 2019, only slightly higher than the 10.9% (of 411 startups) recorded in 2010.
Why the disparity? “We are operating at the intersection of technology and finance, which are notably two industries woefully under-represented by women,” Alaina Sparks, Deloitte’s US fintech leader, tells Forbes. “The issue can be exacerbated by bias from those who have tremendous influence in providing the necessary capital to be successful—financial, social, and human capital,” she says.
Encouragingly, more dollars are being directed toward women-founded