Tag

fintechto

Browsing

Woman of the Week: Eva Wong

 

When I first started giving some thought as to possible profiles of women of excellence to feature in the Woman of the Week section, I decided I wanted to write about women working in the technology space in Canada, namely Eva Wong. This is a very vibrant and growing sector, with the Toronto-Kitchener-Waterloo corridor nicknamed the “Silicon Valley of the North,” including innovation, AI, and fintech startups.

Eva Wong, is one of the co-founders and COO at Borrowell, a financial technology (fintech) company whose mandate is to help Canadians make great decisions about credit. Their service offering includes free credit scores and credit reports, advice and recommendations to improve customers’ financial well-being and personal loans.

Founded in 2014, Borrowell has grown to a 50-employee firm with 700,000 users to date, making it one of the largest fintech companies in Canada.

Eva’s professional background in business and years spent working for a non-profit prepared her for the creation of her present venture. Being a woman who was told that she did not have the ‘right’ background, she faced the prejudices of those who thought she was not qualified enough. However, thanks to her growth mindset, and memories of how she had faced challenges in the past and overcame them, she kept going to achieve her current success.

One of the things that she acknowledged as being a great help when she first started was not being afraid of asking questions, which in turn allowed her to build confidence over time and considers herself very fortunate to have  had of a strong co-founding team. She has had the opportunity to work in a team of people committed to the project and bringing different experiences and insights to the process. The founding team, embedded in the tech community, were part of an accelerator at Ryerson DMZ as well as the One Eleven scale-up hub. Therefore, “there were many people to connect to and talk to with similar experiences,” Eva said.

A lot of lessons were learned along the way, one of them being that success results from continual testing and trying new things.  “There are a hundred small things you have to do as opposed to one big thing. We were data driven in everything we have done, organizing, collecting data and making decisions.” said Eva.

Although Eva stresses the importance that a great team of people makes a huge difference in the level of productivity, and that great people are great people no matter the gender, she also emphasizes that one of her company’s goals is to reach gender balance. “Currently 40 percent of our team identifies as female.  It’s important to build diversity.”

Many startups have a reputation of being male-centric, Borrowell is an exception, striving to create a more inclusive culture and a more appealing environment for women and other under-represented groups to work in.

Eva acknowledges that it is a great moment to be part of the technology community in Canada. She continues, “We are on the cusp of something that can be really big. The community is still small enough that people want to be helpful and a sense of collaboration pervades the community. It’s very exciting!”

In her youth, Eva used to keep a scrapbook where she collected articles and photos of people who inspired her while growing up. She always wanted to make a difference. She recalls ,“I remember reading an article about some high schoolers belonging to the Junior Achievers group who had started their own business. Years later, I went to university with one of the people featured in the article.”

Being a young industry, technology holds a lot of young talent who are very helpful if you want to stay current and up to date. Eva said, “I am fortunate to work with people who are much younger than I am. Also, there is a news media company I’m subscriber to and found that it’s a really good source of information providing in-depth knowledge .”

As a woman and as a woman of colour, she believes that this is the best time for women to break through in executive roles and in traditionally male-dominated sectors.

Not only a co-founder and senior executive, but also a mother and wife, Eva’s hardworking attitude and strong work ethics may have led to spending too many hours at work. However, the pull of the family is strong and drawing a line between professional and private has become an imperative. With so many hours in a day, she wishes she “didn’t need to sleep to have more time to do things” and that is the superpower she wishes she had. In the absence of a real superpower, she is quite content with exercising the daily power of making things: she enjoys cooking and baking. Lately, she has experimented making sourdough bread and pizza.

Eva warns against a misconception that revolves around technology that a career in this sector is impossible without the necessary background. Just like any other sector, there are a lot of jobs within tech companies that are waiting for smart people to do them. She said, “I would encourage people who are interested in a career in tech, whether it’s founding a company or joining a startup. It’s been the most exciting time of my career. There are great opportunities, meaningful work, and a real chance to make a difference.”

Woman of the week: Sue Britton

 

Innovation is a very popular concept for today’s global businesses. Change, supported by technology, is occurring at an accelerated and unprecedented rate. Businesses all over the world are looking for tools to perform their transactions in a more innovative and efficient manner. Sue Britton, Founder and CEO of Fintech Growth Syndicate Inc. (FGS) describes herself as “passionate about innovation.” Founded in 2016, FGS helps banks, insurance companies, and other financial institutions realize the changes that they want to make. Their clients can either outsource the whole project to them, or leverage from their experience, knowledge, and contacts. FGS, a 15-people technology firm, is deeply embedded in Canada’s fintech ecosystem.

As I talk to Sue, it is clear that she is very proud of her accomplishment—who would not be! And what’s more, she proves that it’s never too late to change career and start something from the ground up. Reflecting on her professional life, Sue says, “I’m turning 50 this year. I came to a point in my life where after a long career I felt like starting a new one late in my life. This is the first time I am doing something I love.” She holds a degree in commerce, worked for the Four Seasons for many years, then moved on to work for one of Canada’s leading financial technology firms before setting up her own business.

In a sector that is largely male-dominated, to find a woman who is a senior executive and owns her own firm is rare to say the least. Women are so underrepresented in the technology sector, even more so as executives of technology companies, that profiling Sue is an important and unique opportunity.

Mother and wife, Sue is quick to credit her husband for allowing her to pursue her career while he stayed home raising their three now grown children. She says, “It wasn’t the most popular thing to do at the time, but it worked for us.” After 25 years of experience in the corporate world, 47 years young, and driven by ambition, she felt frustrated with being limited in her professional life. She knew she was passionate about innovation. This passion led her to start her own company. Sue admits that setting up shop wasn’t as an easy enterprise to undertake as doing innovation within a company. However, “being an entrepreneur is an extremely rewarding experience.” Sue continues, “It’s what gets me up in the morning, solving problems that seem opportunities and making those opportunities in the financial services space happen faster.”

When addressing the issue of gender imbalance in the technology sector, Sue firmly believes that men and women need to be to committed to ensure that both genders are equally represented in public forums. Women have historically been off-stage more than on-stage. Sue believes that it is long overdue for that dynamic to change. Sue says, “When I am asked to speak at conferences, I will not entertain speaking if the female representation I’m with is less than 50 percent.”

Although, she is a living example that women can find their space in technology, there is still a long and winding road ahead. Her company tracks all the Canadian start-ups in the fintech industry. Out of thousands of them, female CEOs and founders can be counted on two hands. This is less a reflection of a dearth of women who have the right skills, as of the fact that women are doing other things and not working in the technology-oriented spaces. Men need to be part of the solution, and women must not be afraid of calling out on certain behaviours that perpetrate gender inequality.

That’s why her advice to women who want to pursue a career in technology is to behave as though they are equal to men and not to settle for a job that is not fulfilling. Also, Sue strongly recommends to reach out to the start-up community which is ”made up by a generous bunch of people” congregating online and offline in various meetup groups. There is even a Facebook group called StartupNorth whose members are heads of VC companies and entrepreneurs among others. Incubators and accelerators are also a good place to go, to talk to people who can make the right introduction.