In March 2020, Funding Options made a commitment to work towards gender equality in the workplace by signing the Women in Finance Charter. In a bid to further our goal for fairness in our business, we’re proud to announce that we’ve also joined the FinTech For All Charter.
What is the FinTech For All Charter?
The FinTech For All Charter was masterminded by InChorus, Innovate Finance, the Financial Conduct Authority (FCA), L39 and the Fintech Alliance. The ultimate goal of the charter is to encourage and enable fintechs to provide opportunities for all. It aims to:
- Support fintechs in becoming more diverse, by focusing on building inclusive environments
- Commit fintechs to protecting employees from harassment by establishing a ‘speak up’ culture
- Recognise that different fintechs have unique starting points and needs - each organisation should set a strategy that is right for them
- Require firms to confidentially share key steps they have implemented: 1) the name of the exec made accountable for D&I 2) evidence of their policy/ or the creation of one.
Why is there a need for the charter?
The UK is the world’s leading fintech hub—its thriving ecosystem presents a wealth of opportunities for business investment and growth. However, there are problems when it comes to inclusion and diversity in the sector. Instances of harassment are surfacing, as are reports of gender pay discrepancies.
At the beginning of 2020, the FinTech For All Charter surveyed employees in the sector to gain an insight into the challenges individuals face in relation to harassment.
The research reveals:
- 85% of workplace harassment was gender based with high incidents of everyday sexism
- 84% of sector employees had been harassed more than once
- 10% of the incidents were instances of ‘unwanted physical contact’*
*See infographic below
Organisations that sign the charter are demonstrating a commitment to building a ‘culture where inclusive behaviours are championed, harassment is not tolerated, and where everyone is accepting of diversity.’
So, how is Funding Options going to make a head start?
FinTech For All Charter: Funding Options’ next steps
We’ve nominated Stuart Lawson, our CRO, as the senior executive team member accountable for Inclusion & Diversity. As a signatory of the FinTech For All Charter, Funding Options pledges to tackle harassment and promote inclusion by:
- Creating & promoting an effective Harassment & Bullying (H&B) policy
- Developing employee awareness around what constitutes harassment & encouraging inclusive practices
- Providing a range of appropriate reporting channels so that employees can speak up safely
- Ensuring that action is taken as per our H&B Policy
We encourage all our peers across UK FinTech to sign the FinTech For All Charter.