The Finance Magnates London Summit 2023 hosted a captivating panel discussion titled "Growth Driving Leadership: Diversity, Resilience, and Ambidexterity," shedding light on the pivotal role of diversity and inclusion in fostering resilience and innovation within the fintech sector.

Moderated by Kate Shcheglova-Goldfinch, Consultant on Fintech Market and Regulatory Platforms Development at EBRD / NBU , the panel featured insights from industry experts Oksana Remez, the Senior Business Development Executive at Finalto, and Sophie Gerber, the Co-CEO/Director at TRAction Fintech.

Championing Diversity

Remez underscored the significance of diversity, advocating for a multitude of voices and perspectives within organizations. She spotlighted Finalto's commitment to diversity, leveraging talents from over 10 countries to foster cultural understanding and language proficiency for enhanced business growth.

"I wouldn't want to be hired simply because a company needed a white female on their team. I'd prefer to be hired based on my skill set. That's my stance on it. However, I strongly advocate for diversity and having a variety of people within a company, especially for those operating globally. We aim to employ individuals with diverse skill sets, backgrounds, and cultures. This diversity brings a fresh perspective to our vision and enriches our company in numerous ways," Remez commented.

Reflecting on recruitment dynamics, both Remez and Gerber acknowledged historical gender imbalances in fintech but emphasized hiring based on merit and complementary skills. Gerber, while noting organic diversity's role in TRAction Fintech's growth, hinted at potential structured HR initiatives for scalability.

The panelists acknowledged the nuanced challenges of achieving diversity, particularly in regions where certain demographics predominate. Gerber and Remez highlighted the need for realism in recruitment strategies, recognizing that diversity initiatives must align with local demographics and available talent pools.

Gerber commented: "Britain and Australia are diverse places, but you can't expect the same level of diversity when setting up an office in China. There aren't many foreigners in China, so you have to be realistic about seeking diversity of ethnicities there."

Navigating Ambidextrous Leadership

Gerber, during the panel, delved into the challenges of managing regulatory changes, stressing the importance of ambidextrous leadership amid evolving transaction reporting rules. She highlighted TRAction Fintech's adaptability in product evolution.

Remez stressed organizational dexterity, utilizing SWOT analysis to propel Finalto's adaptation to market changes. Both speakers highlighted innovation and customer feedback as catalysts for business evolution, fostering idea-sharing within their respective companies. Additionally, Remez described how idea-sharing and brainstorming occur organically within Finalto, often after expos or during management meetings. She also reflected on the uncertainty of the future.

Resilience amidst Change

Panelists acknowledged the relentless pace of change in fintech, fueled by regulatory reforms, technological advancements, and market disruptions. They stressed the need for businesses to remain agile and anticipate shifts proactively.

With operations across jurisdictions, robust operational frameworks and contingency plans emerged as imperatives, especially during instances like office relocations in Ukraine and Israel. Technological fortitude, including failover systems and cybersecurity measures, was deemed critical for business continuity.

Leadership and Strategic Priorities

Leadership emerged as a cornerstone of resilience, emphasizing empowerment, recalibration of responsibilities, and fostering adaptability. Mental resilience and empathy were highlighted as essential in navigating personal and professional challenges.

Looking ahead, panelists outlined strategic priorities, including expansion initiatives, exploration of new markets and services, and a continued focus on innovation in the financial sector. Personal development goals, such as continuous learning and holistic well-being, were underscored for navigating professional growth and transformation.

The panel discussion at the Finance Magnates London Summit 2023 encapsulated a nuanced understanding of resilience as essential for navigating the complexities of today's business landscape. From operational agility to technological fortitude and empathetic leadership, the dialogue underscored adaptive strategies driving innovation amidst uncertainty.

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