Montreal – March 7th, 2019 / Fintech Cadence, the new name of Montreal’s Fintech catalyst FormFintech, announces the launch of its Women’s Mentorship Program ahead of International Women’s Day.
Since its birth in 2016 our organization has put forth programs designed to help Montreal become the hub of Fintech innovation and investment that it is today. This includes Quebec’s only fintech certification program, the Building Blocks Fintech Certificate. Today, we proceed with an important next step in enabling more female entrepreneurs to break down barriers and succeed in this burgeoning industry.
“We have always gone out of our way to encourage women to participate in our programs. Whether it be our Ascension pre-incubation program, the Formathon every spring or any of the others. Because of our efforts, participation rates for women in our programs are more than four times the industry average” said Geraldine Holliday, Head of Digital Product at Fintech Cadence.
Women in Fintech, by the numbers:
· Just 9% of all entrepreneurs in Fintech are female according to Fintech Growth Syndicate.
· Only 5% of non-founders working as executives in Fintech are women.
· 35% of participants in our programs are female.
· The team at Fintech Cadence is itself 75% female
· The board at Fintech cadence is 66% female
As with all our programs, the Women Mentorship Program and the Building Blocks certificate were launched to fill gaps in the Montreal Fintech community, helping it continue to prosper. The re-branding of FormFintech to Fintech Cadence is therefore timed to fit with this expanded mandate. We are enabling our stakeholders to better understand the needs, culture and regulations they’re facing when delivering technology solutions to financial institutions.
"Fintech startups are being created frequently to address industry and consumer needs, women still have low engagement in this sector. Fintech is still in a relatively early stage and we have the opportunity now to increase female engagement through identifying mentors, supporting talented individuals and facilitating knowledge transfers – but we must act now!” added Holliday.