International Women’s Day: the data is not biased
There is no inherent ‘bias’ in the data, but how we interpret it can make all the difference. In this article, executives from one of Australia’s leading fintech companies, Yieldbroker, discover what it takes to cultivate an environment with less bias and greater gender diversity, where innovation thrives.
Making good business decisions requires a deeper understanding of your data. In an ideal, “unbiased” environment, when you have the right datasets, you feel confident that “your data backs you up” and helps foster an environment of innovation. However, when the environment contains cognitive biases, it risks distorting the efficient processing of data and information, making learning from the data more complex and difficult.
According to Emily Turner, Head of Market Data and Projects at Yieldbroker, innovation is proven to be cultivated in environments with less bias and greater diversity.
“At Yieldbroker, we create such an environment, together with our strategic partners like Sisense. The more we develop our skills and merge them with those of our partners and customers, the better the results for everyone,” she says.
Pioneers need the right partnerships
When it comes to innovation, Yieldbroker is certainly not shy. The Australian Fintech company recently announced a collaboration with cloud-based AI analytics platform Sisense to use its interactive data visualization capabilities for Yieldbroker’s powerful new data and analytics product, “YBEdge”. .
“Yieldbroker is a Fintech company. It is important for us to always keep an eye on what is happening in our market and seek to innovate. We have a series of USPs today, but over time they are eroding and we are driven to create new ones. You need to constantly innovate to stay relevant and stay ahead of the game – Sisense helps us do that,” says Emily.
“The data, in themselves, is not biased; it is factual. No customer will look at data the same way. This is where interactive and smart technology like Sisense comes in to solve this problem. In many ways, Sisense can help us eliminate bias, as we empower our customers through data; data that provides tailored insights aligned with our different types of customers and their ever-growing use cases and data needs.
“As a customer-centric company, we put the customer first. Our innovation stems from the goals of our users, which is the culture of Sisense.”
Tackling workplace bias head-on
Addressing bias in the workplace is also important to Yieldbroker, as it sees itself as a progressive, innovative and data-driven company, says Isabella Teixeira, business operations manager at Yieldbroker.
“We are passionate about our people, but also about partnering with customers and other innovative companies like Sisense who celebrate and promote diversity. We want to make sure we are doing what we can to support the industry as a whole. Talking openly about these issues and the steps we are taking to address them helps promote awareness and long-term changes to improve the industry now and for the future,” she explains.
Addressing the Elephant in the Room: The Fintech Diversity Problem
A recent Fintech Diversity Radar report found that only 1.5% of global fintech companies are founded solely by women and receive just 1% of total fintech funding, according to a new study. The research, conducted by Findexable among more than 1,000 private fintech companies, found that women make up just 11% of all board members and 19% of corporate executives.
Yieldbroker takes proactive action against workplace bias, which is especially important in the fintech industry, Isabella points out.
“For us, there should be no bias based on gender, sexual preference or ethnicity – equality and transparency are key. In the particular case of remuneration, it is essential that all of our staff are evaluated appropriately. That’s why we make sure to pay based on the role and performance, and not on the characteristics of the individual,” explains Isabella.
“More so, we are leveling the playing field when it comes to parental leave. The days of saying “maternity leave” and “paternity leave” are long gone. Our policies are put in place to encourage gender equality, giving fathers the same rights as mothers so they can share the burden as carers. It’s about helping men and women stay relevant and up-to-date in the job market. »
At the same time, Yieldbroker also supports women who choose to take maternity leave. And when they return, the company gives them the flexibility they need, whether it’s flexibility in days, hours, or working from home or the office.
“Our management team is also made up 50/50 of men and women. It’s about promoting seamlessly into leadership roles, so we can break through the glass ceiling. This ensures equality as our employees progress through the ranks and, again, focuses on people rather than gender,” concludes Isabella.
About Yield Broker
Yieldbroker provides the systems infrastructure, regulatory framework and compliance oversight necessary to facilitate the growth of orderly electronic debt and derivatives markets in Australia and New Zealand. Since its inception in 2001, Yieldbroker’s broker and client marketplace has become the dominant electronic trading platform in the local debt market. An Interdealer Marketplace was added to the platform in 2007. Yieldbroker also operates an auction system which is used by the Australian Office of Financial Management (AOFM) for the issuance of Australian government treasury bills, d treasury indexed bonds and treasury notes, by the RBA for long-term liquidity operations and by several semi-public borrowers. Yieldbroker also provides the mechanism used to set the expiry price of local Australian bond futures for the Australian Securities Exchange (ASX), as well as one of the main price contributors for the ASX when determining the rate. Bank Note Swap Key (BBSW), the official benchmark for floating rate notes and other instruments. Yieldbroker is a Tier 1 Licensed and Recognized Market Operator by the Monetary Authority of Singapore (MAS). More information about Yieldbroker is available at www.yieldbroker.com.
Sisense goes beyond traditional business intelligence by giving organizations the ability to inject analytics anywhere, embedded into customer and employee applications and workflows. Sisense customers break through the barriers to analytics adoption by going beyond the dashboard with Sisense Fusion – the highly customizable, AI-powered analytics cloud platform that infuses intelligence in the right place and at the right time, every time. More than 2,000 global companies rely on Sisense to innovate, disrupt markets and drive meaningful change in the world. Ranked #1 business intelligence company for customer success, Sisense has also been named one of the top 100 cloud companies in the world by Forbes six years in a row. Visit us at www.sisense.com and connect with us on LinkedIn, Twitterand Facebook.