Pioneering the Future of Finance Through Diversity

Written by Lisa Frazier, Executive Vice President , Head of Innovation, at Wells Fargo


At Wells Fargo, through the Wells Fargo Startup Accelerator, we are constantly collaborating with emerging FinTech companies with unique, compelling solutions to explore and help scale their big ideas. FinTechs bring to the table a laser focus on a specific solution, and we bring 167 years of customer experience.

We believe strongly in these opportunities and recognize they work best when everyone has a seat at the table. Women, for instance, make up 57% of the U.S. workforce, but just 20% of the tech jobs. What’s more staggering is that only 5% of startups are women-owned. It’s time to close that gap. According to a 2019 Boston Consulting Group study, women-founded companies deliver more than twice as much revenue per dollar invested than those funded by men. That’s why we are so proud to be working alongside Springboard and Quesnay to help hardworking women entrepreneurs showcase their big ideas.

Pioneering the future of finance includes raising awareness, funding, and mentoring women-led startups so they have the tools and resources to succeed and scale their ideas. November 24 is the closing date for Quesnay Female Founders in FinTech competition, please encourage those you know to apply today.


See and share Lisa’s original post on LinkedIn, here.

Innovation vs. Regulation: The Importance of Regulatory Compliance for FinTechs

Courtesy of Female Founders in Tech FinTech 2019 Contributing Sponsor Shearman & Sterling LLP, Quesnay presents:


INNOVATION vs. REGULATION:

THE IMPORTANCE OF REGULATORY COMPLIANCE FOR FINTECHS

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The rise of FinTech has created significant growth opportunities for companies globally.  It has also raised a series of novel legal and regulatory questions.  Early-stage FinTech companies should be prepared early in their lifecycle to have their regulatory house in order. 

While regulation can be a significant (and expensive) burden for a growing FinTech, regulatory compliance can also be a differentiator for these companies.  Those that dedicate resources to compliance and engage with regulators early on set themselves up for smoother conversations with investors.  Further, they are able to identify any issues that could prove costly later on if unaddressed and/or arise at an inopportune time during a sale or IPO.

Helping FinTechs navigate the regulatory landscape is one of the main reasons that we at Shearman & Sterling launched the FinTech Foundry, a program dedicated to support the FinTech-related activities of our clients and the wider global FinTech ecosystem.  The core of our proposition is the ability to provide opportunities to connect, share insights and support the innovators shaping the future of financial services with knowledgeable regulatory and compliance advice from a global perspective.

Given our activity in the FinTech space as well as our commitment to advancing women, we are incredibly excited to support the Quesnay Female Founders in FinTech global competition for the second consecutive year.  The competition embodies the holistic approach necessary for FinTechs to succeed and is a great way for female-led FinTechs to position themselves for growth.

We encourage all qualified FinTechs to apply to the competition by November 18, and we look forward to seeing all of the innovative solutions these companies have to offer! 


More information about the Female Founders in Tech FinTech 2019 competition available here.