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Written by Sophie Flynn, co-founder and CFO of Transact365.
When it comes to implementing change in any industry or sector, challenging preconceptions about what is deemed ‘normal’ and presenting a fresh, new perspective based on evolving social values is key. This is often easier said than done - throughout history, major historical events like women winning the right to vote and civil liberties being enshrined in law, have come about after many years of activism to change social perceptions.
Thankfully, society is on the path to becoming more equitable, free from discrimination and offering the opportunity for people to fulfil their full potential regardless of their race, culture or sex. That being said, there is still progress to be made.
Forging a career in fintech
Looking at the UK, and in particular fintech, I am happy to say that initiatives are in place to encourage women to pursue careers in sectors once considered to be male oriented sectors. I like to think my work as co-founder and CFO of Transact365 is a reflection of this.
When I finished high school, my desire to get involved in business led to me pursuing an apprenticeship as an accountant, instead of taking the traditional university route. From there I undertook the relevant qualifications to become a qualified accountant, finally passing my ACA in 2016. This was an important step in my career. With the backing of qualifications and industry experience, I began to look beyond the accountancy sector to try and identify the sectors I believe were primed for high growth.
Fintech was an obvious choice. During my time studying, I witnessed scaling startups revolutionise banking for consumers, businesses and investors, resulting in fintech unicorns who are now household names. What excited me the most was the fact that we were only just scratching the surface of what fintech has to offer.
With these observations in mind, I looked to the payments sector - namely, the payments systems in place that allow merchants in established markets to sell their products and services in emerging economies. At the time, it came as a surprise to me that merchants in the UK were struggling to access countries with a burgeoning consumer population, like Asia, because they couldn’t offer and didn’t understand the local payment systems.
Given the rise of e-commerce as a means of facilitating sales, it seemed evident to me that merchants would eventually seek out payment solution platforms which could offer this service. A year later, I am proud to say that I alongside three other colleagues founded Transact365 - a global payments platform giving merchants the payment tools needed to access emerging markets.
Since being founded in 2017, the fintech has overcome adversities and grown at a rapid pace. We opened a new office in Singapore and recently achieved 300% year-on-year growth.
Leaving the product offering to one side, I like to see my experience as a fintech co-founder as a testament to what other women in the sector can achieve. What’s more, being in a senior position hopefully provides the inspiration needed for more women to pursue a career in fintech, and even the payments sector.
Lessons learned from football
It does shock some people when I say fintech was not my first professional endeavor. For 10 years, I was signed to my local football team at Blackburn Rovers as a centre midfielder. Through training and discipline, I was able to learn what dedication and teamwork could achieve. And while I made the decision to take a step back from my football career, it does not underplay the important lessons gained during this time.
Perceptions of women in football have similarly undergone change. With the recent Euros tournament and England’s performance, it is fantastic to see a new generation of fans backing our national team. I hope that this is only the beginning and that we see more support for women wanting to play professional football.
Of course, I haven’t forgotten about the influence football has continued to have on me, which is why Transact365 is a sponsor of the women’s Blackburn Rovers team.
I know that as an ex-professional footballer and current fintech professional, I am an exception to the general norm. However, I also believe that women like me can make this change. In this sense, I am fortunate to be contributing to this broader goal of equality and opportunity for women in fintech.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
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