The technology industry is notorious for having far more barriers to entry for women, and globally, efforts to create opportunities might not be enough. While progress has been made in some sectors, financial institutions face specific challenges in achieving gender balance within its technology divisions.
Women should occupy senior tech positions in financial institutions not only because representation matters and improves workplace conditions, but because their inclusion is essential for effective digital financial policy that serves all members of society.
OMFIF’s Gender Balance Index 2025 analysed the representation of women in senior technology-related roles across financial institutions for the second consecutive year. In an industry known for its stark gender gaps, it remains critical to shine a light on these disparities.
This year’s results mirror broader trends in senior leadership positions tracked by the index, revealing little overall change in women’s representation in senior tech roles. Across the four institution types surveyed by OMFIF – central banks, commercial banks, pension funds and sovereign funds – the share of women in senior tech positions has increased marginally to 32% this year from 31% in 2024.
Figure 1. Mixed picture in senior leadership
Share of women in senior tech roles, %
Source: OMFIF analysis
While this represents movement in the right direction, the glacial pace of change highlights persistent challenges that women face in accessing technology leadership roles within financial institutions. When examining the data more closely, progress varies significantly among different institution types, painting a complex picture of advancement and setbacks.
Women’s representation in senior technology and payments roles at central banks has dropped to 34% from 39% – a troubling reversal in a critical area of banking operations. This decline becomes more alarming when viewed alongside the broader stagnation in gender diversity as overall female representation at central banks has remained around 30% for five consecutive years.
Rolling back inclusion initiatives
Central banks now face a pivotal moment in their approach to gender equity in leadership. While modest gains would typically be welcome, the current political climate presents new challenges. Growing backlash against diversity, equity and inclusion initiatives has created legitimate concerns that progress could not merely stall, but actively reverse.
Meanwhile, the picture among global public funds is mixed. Sovereign funds show promise, with women holding over half of the senior tech-focused roles in the sample, albeit from a small base. Pension funds, however, lag with only 14% of such roles occupied by women.
Conversely, commercial banks have experienced increases in women’s representation in roles with a digital or technological remit – rising to 21% this year from 13% in 2024. This is the biggest increase among all institution types and is a positive sign of improved representation in a set of institutions that are most vulnerable to the attacks on DEI initiatives.
Policy perspectives for diversity
One of the most compelling arguments for gender diversity in senior tech positions centres on overcoming bias and groupthink that inevitably emerges from homogeneous decision-making groups. When systems and policies are designed by groups lacking diversity, they often fail to account for the varied needs of the populations they serve.
As speakers from both the public and private sector emphasised on a panel at the OMFIF’s 2025 Digital money summit, institutions must be intentional about including diverse perspectives from the design phase of technology initiatives. This intentionality is crucial in order to address digital financial inclusion, an issue that disproportionately affects women across both developed and emerging markets.
Including gender considerations in reporting requirements introduces essential visibility to these issues and, ideally, encourages concrete action to improve access for women. A speaker from a private sector institution noted that by incorporating gender data points at the transaction level and building these considerations into application programming interfaces and data model frameworks, financial institutions can gain regular visibility into financial inclusion patterns within their markets. This data-driven approach enables institutions to make informed decisions about addressing gender gaps in accessing financial services.
The technology infrastructure that supports modern financial services plays a vital role in either perpetuating or addressing these disparities. When women are absent from the senior leadership teams designing and implementing these systems, the resulting technologies may inadvertently create or reinforce barriers to women’s financial participation.
Broader case for parity
Beyond the immediate policy implications, women in senior tech roles within financial institutions play a vital role in breaking down stereotypes and debunking harmful misconceptions about women’s capabilities in STEM-related fields. Their visibility in leadership positions serves as proof of concept for other women considering technology careers, potentially creating a virtuous cycle of increased representation. It also, like the presence of women in senior leadership more broadly, allows for increased mentorship and sponsorship opportunities for employees further down the career ladder. These opportunities, if they materialise, can in the future contribute to a higher share of women in senior tech roles as shown in Figure 1.
Furthermore, women in technology leadership positions often bring different perspectives on risk management, user experience design and stakeholder engagement that can enhance the overall effectiveness of financial technology initiatives. Their diverse approaches to problem-solving and innovation can catalyse better outcomes for both institutions and the customers they serve.
As financial services become increasingly digital and technology-dependent, the importance of diverse leadership in technology functions will only grow. Institutions that fail to prioritise gender balance in their senior tech roles risk not only perpetuating inequitable outcomes but also missing opportunities to develop more inclusive financial technologies and policies.
Arunima Sharan is Senior Economist, Economic and Monetary Policy Institute and Katerina Liu is former Research Analyst, Digital Monetary Institute at OMFIF.
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