Pride month is drawing to a close, with major celebrations continuing this weekend in London. Pride represents much more than parades, parties, and vibrant displays; it embodies the ongoing journey toward acceptance and inclusion of LGBTQIA+ identities, including in the fintech sector.
In recognition of this year’s Pride, we spoke with Motie Bring, CEO of PPRO, about his experiences as a gay man in the fintech industry. “I came out at seventeen, and it was a challenging process for me— grappling with self-acceptance and the fear of rejection from loved ones. From that moment on, I chose to remain open about my identity. I bring this honesty into all aspects of my life, especially my career,” Bring shared.
He acknowledged that his sexual identity has posed challenges throughout his career, which has only strengthened his commitment to promoting a genuine diversity, equity, and inclusion (DE&I) agenda. “Being gay isn’t my whole identity, but it is part of what has shaped me into who I am today. I believe that embracing my true self has significantly bolstered my confidence as a CEO and leader. Confidence is essential, particularly when making decisions that impact my team and the company’s growth, especially in uncertain economic times.”
Reflecting on the progress for LGBTQIA+ individuals in fintech, Bring said, “It’s encouraging to see major organizations in banking and fintech implementing initiatives for diversity. We are witnessing more community members in senior and visible roles, but there is still a notable lack of LGBTQIA+ CEOs.”
When asked about influential figures in the LGBTQIA+ community, Bring expressed admiration for Julia Hoggett, recognizing her contributions to financial services and her role as an advocate for women and LGBTQIA+ individuals during her tenure as CEO of the London Stock Exchange.
However, Bring pointed out that challenges persist within the global fintech industry, where LGBTQIA+ individuals often face discrimination, both in and out of the workplace. “Even with advancements, many continue to face unfair treatment, including hiring discrimination and harassment, and some have even lost their jobs because of their sexuality. This discrimination can lead to feelings of isolation and vulnerability in professional settings.”
He highlighted alarming statistics, noting, “In London, 75% of LGBTQ+ startup founders conceal their sexual orientation or gender identity from investors, and about half of all employees choose to hide their identities at the beginning of their careers. We have a long way to go. Visibility for LGBTQIA+ individuals in financial services is critical, and without open discussions, these challenges are unlikely to disappear.”
To improve the environment for LGBTQIA+ professionals, Bring emphasized the need for accountability from organizations. “Regardless of your company’s size, it’s crucial to take responsibility for the people you’ve hired. We all have biases, and recognizing how these biases can manifest is the first step toward transforming company culture. Leadership must not only endorse diversity and inclusion efforts but actively promote them. Fintech leaders should be vocal advocates for DEI, demonstrating their commitment through actions that reflect those principles.”
In conclusion, Bring stated, “You don’t need a large budget to integrate DEI into your business culture; all you need is a dedicated and creative team. Support the various initiatives that make up your DEI agenda by being a genuine ally to the community.”