Integrating DEI: Beyond Buzzwords to Business Breakthroughs in Fintech
By Kraig Kleeman
“They say a journey of a thousand miles begins with a single step. In fintech’s journey toward true diversity, equity, and inclusion, that first step shouldn’t be a misstep. Here’s how to start on the right foot.” – Kraig Kleeman, CEO
Introduction
Through my experience, I have observed how diversity, equity and inclusion can transform into either a strong force for creativity or merely a set of popular terms that corporations unfortunately exploit. In the changing landscape of financial technology, it is essential to treat these principles not only as something desirable but also as an integral part of our business plan. I will share some sincere thoughts about what to do and what not to do for diversity, equity, and inclusion in fintech. These come from our good experiences as well as the mistakes we’ve made.
The Do’s of DEI in Fintech
- Make DEI Part of Your Business DNA
DEI should not be just a small part of the HR department. It needs to have a place in the boardroom, design lab and every other area as well. When we included Diversity, Equity and Inclusion as main parts of our business plans, new opportunities appeared for us—not only inside the company but also in the external market. For example, when we made changes to our application to make it easier to use for everyone, we did not just meet the requirements of ADA; we reached a new group of customers who previously felt ignored by the major financial services. - Go Beyond the Usual Suspects
At the beginning of Z-Branding, it became clear to me that if we only used the usual sources for talent, our ideas would not change much. Thus, we decided to do things differently. We contacted groups that help different kinds of people, and we set up internship programs for those who are not well represented in technology. The new ideas they introduced were very influential, leading to innovation and making our workplace culture more energetic. - Keep Learning and Growing
At Z-Branding, I always emphasize the importance of continual learning about diversity, equity, and inclusion. It is not just single events but an ongoing process of education. We conduct training sessions, invite guest lecturers, and promote a culture where asking questions is welcomed. This dedication helps us stay alert and responsive to the changing requirements of our team members and clients.
The Don’ts of DEI in Fintech
- Say No to Tokenism
When I was starting out in my work, I saw how a company would often show off their small number of diverse workers in all their advertising, but these staff members did not have much actual power within the firm. It made me feel discouraged. At Z-Branding, we strive for authenticity. It’s not just about having diverse faces. It’s about giving those faces a voice and a chance to lead. - Recognize the Layers of Identity
DEI is not simply a matter of marking ‘race’ or ‘gender.’ Individuals are intricate, possessing multiple identities that overlap and influence their work and private life experiences. We had to learn through difficult experience when a universal method did not work at all. Now, we customize our plans to acknowledge different aspects, making sure that our rules truly tackle the distinct manners in which individuals encounter their work environment. - Avoid Just ‘Going Through the Motions’
Nothing is more bad than empty actions. Believe me, persons can see when it is only for appearance. Our efforts for Diversity, Equity and Inclusion are supported with true dedication and blended into all our activities. By honoring cultural festivities and incorporating respect in our everyday communication, we make sure that what we do is significant and mirrors the fundamental principles we hold.
Wrapping Up
Integrating diversity, equity, and inclusion is not only about choosing the correct side of history; it also means creating a business that is strong, adaptable and groundbreaking in its approach to including everyone. The path may have challenges but the benefits— both ethical and financial—are very significant. While we keep developing new things in financial technology, let us promise to integrate Diversity, Equity and Inclusion as an active element of our companies. We should become the transformation that we desire within the finance sector.
About Kraig Kleeman
Kraig Kleeman is a highly successful entrepreneur, author, and showrunner. If his accomplishments and aspirations were to draw inspiration from natural icons, he could be described as a fusion of Elon Musk’s visionary approach to business and Mick Jagger’s electrifying stage presence. He possesses keen business acumen and a flair for captivating performances that awe audiences.
Kraig’s entrepreneurial spirit is boundless, as evidenced by his track record of founding a tech company and taking it from nothing to $30 million in sales under four years. His newest venture, The New Workforce, is growing by triple digits, quarter over quarter. While some may liken his abilities to a Midas touch, others prefer to think of it as transforming companies into profitable ventures instead of turning things into gold!