Women leadership and digital transformation in the fintech ecosystem

At the end of May, the Fintech Immersion Program organized by Inneürope and ATEFI featured an enriching roundtable led by fintech journalist Rosa Del Blanco and four influential women internationally recognized in the fintech field. These experts in key areas such as cybersecurity, blockchain, quantum computing, AI, cryptocurrencies, and digital banking included:

• Gabriela Orille, a pioneer in the fintech world, Business Angel, Advisory Board Member, and Director in various entities.
• Gabriela Roberto Baró, co-founder of Agrotoken, Nash21 and BeLocal.
• Pilar Troncoso, CRO of QCentroid and founder of OARO, IDBOTIC, and Aidea.
• Marta de Zavala, founder and CEO of Cysuite Group.

Thanks to a debate full of reflection and inspiration, these leaders provided valuable insights into the future of the sector and how they are driving technological transformation. The main topics discussed were:

INNOVATION AND STRATEGIC ALLIANCES

- Continuous Innovation: It is essential to invest in innovation to remain competitive in the future. Successful examples like WeChat demonstrate that comprehensive (360-degree) innovation and strategic alliances (both within and across sectors) are crucial.

- Cost Reduction: The Total Expense Ratios (TER) of investment funds are decreasing drastically. While traditional bank funds may have management costs of up to 1.5%, indexed funds have reduced these costs to 0.40%. Reports from PricewaterhouseCoopers show that these TERs are dropping even further, reaching 0.20%.

- Regulation and Adaptability: Regulation can be an obstacle to innovation. It is necessary for legal teams to work closely with the business to find viable solutions within the regulatory framework.

EMERGING TECHNOLOGIES

- Blockchain and Quantum Computing: These technologies are gaining traction and are seen as key tools to improve efficiency and security in the financial sector. Tokenization is an emerging use case that is transforming the sector.

- Cybersecurity: With increasing digitalization, cybersecurity becomes critical. A report by Cybersecurity Ventures estimates that the cost of cybercrime damages will reach $10.5 trillion annually by 2025. Companies must anticipate potential attacks and be prepared for complex scenarios to mitigate risks, remain competitive, and ensure business viability in the medium and long term.

- Tokenization: Tokenization is expanding as an innovative solution, with major players entering the sector and creating use cases that were previously considered niche.

- Artificial Intelligence: AI is revolutionizing the financial sector by automating processes, improving operational efficiency, and reducing human errors. It is also being used to enhance security and detect fraud in real time, allowing financial companies to respond quickly to potential threats and protect their clients' data.

FINTECH AND INSURTECH

- Integration of Fintech and Insurtech: These areas are converging to offer more efficient and personalized products, improving margins, and reducing costs for consumers.

- Knowledge and Specialization: It is essential for financial professionals to stay updated and specialized in these new technologies to better understand and serve their clients.

MARKET TRENDS

- Generations and Crypto: Young people show a greater inclination towards investment, especially in cryptocurrencies, which requires adaptations in the financial products offered.

- Investment in Spain: Spain is becoming an attractive destination for LATAM companies due to its quality of life, talent, and connectivity.

WOMEN IN FINTECH

- Women Leadership: Women in the fintech sector are achieving superior results in terms of startup growth and survival. A BCG report shows that for every dollar invested, startups founded by women generate $0.80 compared to $0.30 for those founded by men. The survival rate of fintechs created by women is 63% higher than those by men, and companies with high female representation in executive positions are 21% more likely to outperform the average financial performance of their industry.

- Representation in VC: The representation of women in decision-making roles within venture capital is low (9.5%), but it is crucial to increase this representation to harness the innovation and growth potential that women bring.

CULTURAL AND ORGANIZATIONAL CHANGE

- Cultural and Organizational Change: Large financial corporations must change their culture and internal processes to foster innovation and quickly adapt to new technologies.

- Shared Responsibility: Innovation should not rest solely with the technology or innovation area; it must be a shared responsibility with the business area to achieve effective digital transformation.

At the end of the debate, moderator Rosa Del Blanco asked the four panelists to summarize their conclusions. Here were their responses:

Gabriela Orille: “The need for immediacy and specialization at the intersection of Fintech and Insurtech.”

Gabriela Roberto Baró: “The future is today, let’s start!”

Pilar Troncoso: “It is important to communicate with knowledge, as our words and actions have consequences.”

Marta de Zavala: “Sustainable innovation must have both digital and physical immersion, as it is people who shape society.”

The event concluded with a sense of optimism and determination. The participants made it clear that the future of fintech is full of opportunities, but also challenges that require a collaborative approach and an open mindset towards innovation and cultural change. This meeting highlights the importance of continuing to foster dialogue and cooperation among all actors in the fintech ecosystem to continue advancing towards a more efficient, secure, and inclusive future.