We’re excited to announce the launch of our new feature series – “FintekNews Celebrates #WomenInFintech“!
Over the past year, the FintekNews team has observed that the financial technology category has a plethora of amazing & inspiring women in entrepreneurial and leadership roles. So while just 6.4% of Fortune 500 companies have female CEOs, we daresay the percentage of women in C-suite positions in the burgeoning fintech category far surpasses that. This week, we’d like to introduce you to Dr. Barbara Provost, founder of Purse Strings, a network of financial and insurance Professionals who have been especially accredited to advise women and help them achieve their financial goals with their unique needs and lifestyles in mind.
NAME: Barbara J Provost, EdD
COMPANY: Purse Strings LLC
WEB ADDRESS: http://www.pursestrings.co/
1) What does your financial technology firm offer?
Purse Strings partners with insurance and financial professionals on how to reach, engage and earn the female dollar – a 14 trillion dollar underserved market. And, through engaging small group sessions we teach women how to make smart financial decisions for themselves and their families.
2) What was the personal motivation for you to launch your firm?
After years of working in the insurance and financial industry as a performance specialist teaching agents and financial professionals how to sell, I observed (and my research confirmed), that the financial industry is least sympathetic to women. And, women are not prepared for their financial future, causing them the inability to live a comfortable retirement.
3) As a female entrepreneur, do you feel any advantages/disdvantages in being female as you are seeking capital to grow & building your businesses?
Yes. Data states there is bias against female entrepreneurs; that they are not as confident and able to run a business. Yet, women are the backbone of the family, society and communities. Case-in-point, the International Finance Corporation (IFC) of the World Bank recently contracted with my company to create education to teach Financial and Insurance agents in third world companies why the female market is so important and how to reach, engage and earn the female dollar. Education to reach female entrepreneurs in India and Nigeria is being facilitated in June.
4) Do you think the trend will continue for women in leadership roles in fintech and why or why not?
Yes! And it must! Women are making strides in so many areas such as education, business and entrepreneurship. We have seen amazing businesses created by women and we are teaching young girls the value of entrepreneurship. I believe we will see remarkable strides by women as leaders in fintech!
Dr. Barbara Provost is the Founder and Principal of Provost Consulting, Inc., a small, but mighty, performance management consulting firm; and the Founder of Purse Strings, LLC, a community that provides financial learning tools and resources for women.