Leading fintech companies share how they are progressing on DEI and leveraging it to achieve greater success:
In recent years, Diversity, Equity, and Inclusion (DEI) have emerged as critical pillars for building strong, innovative, and resilient organizations. Recognizing the immense value that diverse perspectives bring to the table, leading fintech companies in India have been making concerted efforts to foster an inclusive workplace culture. In this article, we explore how BharatLoan, CredAble, Fibe, and Rupee 112 are using DEI to improve employee efficiency.
DEI are crucial in the fintech industry. Despite its innovative reputation, the industry faces significant diversity challenges. Women remain underrepresented, especially at higher levels. Fintech organizations must actively support women through mentorship programs and create safe spaces for guidance. Embracing diverse perspectives unlocks new market segments, drives innovation, enhances trust, attracts top talent, and ensures regulatory compliance. DEI isn’t just a trend – it’s essential for fintech’s continued success.
Culture of Inclusivity
BharatLoan views DEI not just as a corporate responsibility but as a strategic imperative. Over the past year, the company has made several strides toward creating a more inclusive and equitable environment. Amit Bansal, Founder of BharatLoan, highlights their progress: “In the past year, BharatLoan has made significant strides in improving Diversity, Equity, and Inclusion (DEI). We’ve implemented unbiased recruitment practices, conducted DEI training sessions, and established employee resource groups to support underrepresented communities.”
CredAble has taken bold steps to transcend gender-based limitations and promote inclusion at all levels of the organization. Debashree Lad, Chief People Officer and Head of Corporate Communications at CredAble, emphasizes their progress: “We currently have a diversity ratio exceeding 30%. Nearly 29% of mid-to-senior management positions at CredAble are occupied by female employees. Transcending gender-based limitations and embracing inclusion at all levels is a priority for us.”
Equal Pay & Resource Groups
CredAble has restructured its pay scales to ensure that there is no gender pay gap and that every employee is compensated fairly and equitably for their work. “We are committed to building a diverse workforce and take a gender-neutral approach to our hiring and promotion practices, with assessments based on Behavioral Event Interviews (BEI).” CredAble’s efforts to ensure pay equity and gender-neutral hiring practices have led to a significant increase in female representation in leadership roles. The company’s commitment to fair and equitable treatment of all employees is reflected in its inclusive policies and the promotion of a pluralistic leadership framework.
BharatLoan’s DEI initiatives have fostered an inclusive workplace culture where all employees feel valued and respected. Its commitment to DEI is reflected in its diverse workforce and in its ongoing efforts to promote equality. The fintech company’s focus on unbiased recruitment and support for underrepresented groups has significantly contributed to building a more inclusive workplace. The establishment of employee resource groups has provided a platform for diverse voices to be heard, further enhancing the company’s DEI efforts.
Nurturing Talent
Fibe has prioritized the creation of a culture where all employees feel included and supported. Monica Mishra, Head of Human Capital Management at Fibe, outlines their initiatives: “At Fibe, we are committed to fostering a diverse, equitable, and inclusive (DEI) workplace. We have implemented several initiatives to enhance DEI within our organization. We have expanded our talent sourcing channels to reach a broader and more diverse pool of candidates.” The company offers flexible work arrangements and comprehensive benefits to ensure that its policies are inclusive and supportive of all employees. Fibe also celebrates diverse cultures, traditions, and observances through company-wide events and initiatives, fostering a sense of belonging among employees.
Promoting Equality
Rupee 112 has made significant strides in advancing DEI. Vikkas Goyal, Founder of Rupee 112, shares their achievements: “Rupee 112 has made significant progress in improving Diversity, Equity, and Inclusion over the past year. We have implemented unbiased hiring practices, conducted DEI training sessions, and established forums for underrepresented groups. These efforts have created a more inclusive and supportive workplace, reflecting our commitment to promoting equality and diversity. Our continuous focus on DEI initiatives has fostered a culture where all employees feel valued and respected.”
A Collective Commitment to DEI
The initiatives undertaken by BharatLoan, CredAble, Fibe, and Rupee 112 demonstrate a shared commitment to advancing DEI within the fintech industry. As the fintech industry continues to evolve, the emphasis on DEI will remain a key driver of innovation, growth, and long-term success.
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