1. Women in FinTech Bahrain initiative: Can you please tell us more about the WIFB initiative and its mission for women in this field?

The idea for a Women in FinTech Initiative in Bahrain emerged after a group of women working in different roles in the financial services sector realized that a platform was needed to empower and encourage more women to participate in the sector. Women play a key role in growing the financial and technological industries in Bahrain, and we are expecting even more women to enter the field in the near future. Women in FinTech Bahrain (WIFBH) was formed in 2018 to serve and support those women involved in FinTech and to promote growth and diversity within the industry.

We have seen a change in the number of women working and engaged within the industry over the years and recognize the advantages of a diverse workforce. However, we feel that more can be done. We want women to be given the opportunity to lead, develop, and create corporate and industry policies while investing as well.

2. Can you describe the initiatives’ role in the ecosystem?

Women in FinTech Bahrain exists to advance the rapidly evolving FinTech industry through Growth, Awareness and Ties.

Growth
• Encourage and support women’s involvement and development in FinTech and explore any upskilling opportunities to generate a higher level of impact both in Bahrain and abroad

Awareness
• Raise awareness among participants of the FinTech ecosystem around opportunities available locally, regionally, and internationally Ties

• Create cross-regional and global networks to strengthen ties, increase cooperation, and exchange experience and expertise within the FinTech industry

3. Can you please share with us some upcoming projects of the initiative?

We are planning a couple of initiatives throughout the year which include:

• Creating alliances and partnerships with other Women in FinTech groups in the thriving FinTech landscape. We are in discussions with neighboring countries to explore opportunities for collaboration with the Women in FinTech initiative. Our aim is to empower women in the GCC, MENA and the wider region. We don’t want to limit it to just Bahrain. It is also important to us that we promote an inclusive and supportive FinTech environment by attracting a full community, of both men and women, working together in partnership on developing a
homogenous industry.

• FinTech series in partnership with Andra PR & Capital Club Bahrain. The initiative goes towards supporting the growth of the FinTech ecosystem in the Kingdom, as well as providing an engaging platform for industry leaders to share their experiences while addressing the most pressing issues and latest trends in the sector. The new monthly event will focus on various FinTech innovations and themes that will shape different industries and sectors within the region. This includes a special focus on developments in regtech, money transfer, blockchain, and more. In addition, the series will be documented thus creating a FinTech channel that will be accessible to everyone. The FinTech series will build a compilation of insights and also serve as a learning tool for prospective FinTech enthusiasts, and entrepreneurs.

• C Her Grow program powered by C5 Accelerate. C5 launched Nebula in September 2017 to highlight and close the gender gap in tech. Increasing diversity in the workplace is more than a women’s issue; it’s an economic and business issue. Diverse companies have been proven to be more successful. The tech gender gap is a global issue; overcoming it requires collective effort from both women and men. Through Nebula, C HER GROW series was born. This series will provide an opportunity for women who aspire to grow into a leadership role in financial management or are excited about FinTech and the promising opportunities it brings to engage in informal, intimate, and informative discussions and learn from key industry leaders.

• Host in-depth FinTech awareness workshops. We are planning on hosting two to three workshops focusing on a general overview of the FinTech ecosystem with an introduction to the opportunities available, as well as offering training around the development of the soft skills needed in the industry. We are also hoping to partner with a public sector organization to host a larger event with specific programs which bring in leading speakers to share their experiences and insights.

4. What are the challenges that Women in Fintech face, and would the initiative be able to help them in some of these challenges?

There are a lot of women making waves in the FinTech industry but from our experiences, a sense of a wider community is lacking. There aren’t many opportunities for women to get together and network in order to share their experiences and achievements. This makes it more difficult for aspiring female entrepreneurs to meet mentors who can guide them around the challenges and opportunities that they may experience working in the field. We hope that our initiative can be a platform to bridge that gap and allow for increased collaboration and networking. Additionally, while we are definitely seeing increased participation by women in FinTech, the field is still predominantly male. Our hope through the initiative is that women can be connected and visible, becoming more active participants in the workforce and during events. Not many women in universities understand that FinTech is an industry of opportunities. They tend to have a misconception, believing that it is an industry just for seasoned entrepreneurs or people with intensive financial background – we want to change that mindset and open up the sector to present to them what they can do in different capacities.

5. What advice can you give to aspiring women fintech entrepreneurs?

• Reach out to know more. Don’t make your own assumptions about the industry. This is why our initiative is in place. Sit with people in the industry and learn from them. These conversations will make a difference and will open up the platform.

• Self-educate. Take the time to read about the upcoming tools, regulations and changes within the ecosystem. Being updated in a dynamic industry is key. By joining platforms and engaging in them, it pushes you to move forward and learn.