Digital banking is opening doors for tech women

Digital Banking

By Monica Rancati, Chief Human Resources Officer, Temenos

Most of us do our day-to-day banking via an app on our phone, without ever having to visit a branch or phone a call centre.

It is amazingly convenient, and it is just the start of a digital revolution in banking. A revolution driven by the shift to cloud computing, new technology like AI, and open banking initiatives. And, of course, competition from global tech giants likes Amazon, Google and PayPal.

All this is transforming the way that banks work. They are becoming more like technology companies, innovating at a rapid pace. From faster and easier ways to pay and save to intelligent tools that empower us to manage our money better.

As the CHRO for a banking technology company, I’m fortunate to see first-hand how technology is shaping the future of banking and the new and exciting career opportunities it is opening up for women in tech.

I believe it is vital we capitalize on this defining moment in our industry, to attract more women into tech roles. Globally, women make up less than 20% of the tech industry. In fact, the percentage of computing occupations held by women has been declining since 1991.

There are signs of positive change. My company, Temenos, employs over 7500 people globally, who work from 63 cities across 38 countries, representing over 90 nationalities. Of our global workforce, 34% is female. Of those under 30, 48% are women, and 45% of senior managers who report to our CEO are female.

These numbers put us on a par with the best performers in our sector including Microsoft, Google and Salesforce. They also represent year-on-year progress, even in 2020, when the pandemic had a particularly hard impact on women.

But we want to do better and will keep striving to increase the number of women in tech roles. We firmly believe in diversity, empowerment and inclusion as it brings more innovation and ultimately better results for our customers and society as a whole.

Adapting to the new normal

Working through the pandemic has required a lot of resilience and adaptability from all of us. For me, the biggest human challenge has been the lack of physical interaction within teams, which is crucial when you work in a fast-paced environment like most fintechs.

Our employees’ health and safety are, of course, a top priority, so as soon as the crisis started, we made sure that people could work remotely and that they had everything they needed to be able to do their jobs.

Overnight, we enabled 98% of our staff to work from home, and we continued to deliver our mission critical banking software and services for clients around the world.

It has been challenging, no question, but it has also been an opportunity to revisit our working arrangements and make room for more flexibility.

Maintaining culture in a crisis

Although it is incredible how fast everyone adapted, we still have to be mindful that remote work can take its toll on people’s personal lives, with the lines between home and work being very blurry during these times.

We’ve invested a lot of time and energy into well-being programs and initiatives to promote mental health, self-care and encourage work-life balance as much as possible. In fact, Temenos was named the winner of the ‘Culture in a Crisis’ category at the Business Culture Awards 2020 in recognition of our response during the pandemic.

The founding stone on which the company was built over 27 years ago is “People are the Key”. This means that we are first and foremost a people-centric organization - the vision, commitment, and ambition of our people is key to our success.

It has been heartening to see how the pandemic brought out the best in our people. Employees with children created WhatsApp groups and volunteered to host interactive sessions that kept kids busy in a creative and fun way whilst they were working. As the lock-down restricted our workout options, teams also organized online yoga sessions.

Skills to succeed

Although hard skills are essential, it’s the cultural fit that ultimately makes someone a Temenosian – and this also a crucial part of our recruitment process, where we assess the applicant based on our cultural principles of Temenosity.

We’re always on the lookout for great talent. While there isn’t a specific checklist of skills to join us, we look for people that demonstrate learning agility and growth mindset in terms of ability and willingness to try new things, make mistakes and learn from them. We also value neurodiversity, as this brings different perspectives, helping build strong organizations.

Working at Temenos is described as a roller coaster! Since we are fast-paced and constantly evolving, you never know where the ride will take you, and that’s part of the fun. We all share a passion for innovation, a shared sense of purpose to transform the banking industry and are committed to making Temenos – and the people who connect with us – successful.

 We are results-driven, operate with a long-term strategic view, whilst keeping a day-to-day sense of urgency. We work with freedom and are not afraid to take risks, always value creativity and, of course, we put our clients at the heart of everything we do. There’s always room to grow, we foster an open-door approach, encourage mentorship and are always willing to lean in and collaborate – we don’t like to let hierarchy define us.

Together, we are making banking better, so we welcome everyone who shares this passion to join us on our digital acceleration journey.

Monica RancatiAbout the author

Monica Rancati is the Chief Human Resources Officer at global banking software company Temenos. Responsible for all aspects of Human Resources globally, Monica has decades of experience leading a wide range of HR disciplines within the technology sector.

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