Pride month is coming to an end and the main celebrations continue this weekend in London. Pride is so much more than parades, parties and rainbows. It’s about the practical acceptance and inclusion of LGBTQIA+ identities, even in the fintech workplace.
To celebrate the passing of Pride, we spoke again with PPRO CEO Motie Bring about his experiences as a gay man in fintech.”I came out when I was 17, and coming out was difficult for me – the process of self-acceptance, the fear of rejection from loved ones. So from there I decided that I would never go back into the closet. I should bring that openness and honesty to everything I do, including my career,” Bring said.
He acknowledged that his gender identity presented challenges in his career, which made him even more committed to pursuing a straight DEandI agenda, but noted: “Being gay is not who or what I am, it’s part of what I’ve done. I am the person I am today, and I believe that wearing my true identity on my sleeve has helped me in many ways to build confidence as a CEO and grow the organization in turbulent economic times.
Looking at the progress of GLBTQIA+ people in fintech, Bring said: “It’s great to see some initiatives being led by very large organizations in the banking and fintech sectors. There are certainly many more members of the community in senior and visible roles who are very encouraging, but there are still too few LGBTQIA+ CEOs.
Asked about key figures in the GLBTQIA+ community, Bring said: “I admire the work Julia Hoggett has done in financial services over the years, supporting both women and GLBTQIA+ people in her impressive career, where she took on the role of CEO of the London stock market.”.
But as Bring pointed out, “Fintech is a global industry, but LGBTQIA+ members still face many challenges and discrimination both at work and outside in many countries around the world.”.
Despite the great strides the LGBTQIA+ community has made in the workplace, Bring argued that acceptance continues to struggle: “Many have experienced unfair treatment, including employment discrimination, harassment and some have even been fired because of their sexuality. Not surprisingly, this can and has led to people feeling isolated and vulnerable in the workplace.”.
He added: “In London, 75 percent of LGBTQ+ startup founders in the UK have kept their gender identity or gender identity a secret from investors, and 50 percent of employees choose to come out at the start of their career. We still have a long way to go. The visibility of LGBTQIA+ people in the financial services industry remains a key issue, and without open discussions, the challenges may never go away.
After considering how to improve the situation, Bring commented: “Whether it’s a small, medium or large business, you have to start being accountable to your employees.
“We all have prejudices; If you understand that these biases can manifest in different ways, you can gradually change the culture within the company. It is important that management not only supports these efforts, but also actively promotes them. Fintech leaders must be vocal about diversity and inclusion in word and deed, and that starts with leading by example and committing to DEI principles from the top down.
Bring concluded: “You don’t need huge budgets to make DEI an integral part of your business culture, you need a dedicated and creative team. You must help lead and support the various initiatives that make up your DEI agenda by showing up and being a true community.
