By: Kelly Brown

The Roman philosopher Seneca once remarked, “Luck is what happens when preparation meets opportunity.” If we apply this wisdom to careers, it’s clear that Fintech is where this convergence often unfolds. As the most dynamic sector of the economy, Fintech represents a unique ecosystem where traditional financial practices meet cutting-edge innovation, reshaping their relevance and significance.

Despite this, Fintech is still often perceived as a predominantly male domain – a stereotype that has nevertheless been repeatedly shattered. One such example is the inspiring story of Maya Novikova, a pioneering leader in this field.

Meet Maya Novikova

Maya Novikova is the Vice President of JPMorgan Chase & Co., a financial services powerhouse that has dominated the industry for 125 years. While the company embodies tradition, it was among the first to embrace cutting-edge technologies, making Fintech a strategic priority. In another groundbreaking move, JPMorgan Chase entrusted a key leadership role to a woman with a sharp analytical mind and exceptional emotional intelligence – qualities that enable her to build and lead highly productive cross-functional teams.

Novikova is a seasoned professional with a proven track record in driving operational excellence within the financial industry’s SaaS sector. Originally from Ukraine, she has spent many years in the United States, earning her degree with Magna Cum Laude Honors in International Business Etiquette and Protocol from the United States Institute of Language and Clerical Studies. Her expertise extends beyond borders: she has developed her own method for managing cross-functional teams, now adopted by leaders across various industries as a framework for fostering team productivity.

In her home country, Novikova’s professional achievements have earned her the prestigious national “Great Ukrainians” award.

Challenges for Women in Fintech and How to Overcome Them

According to Novikova, psychological resilience and strong communication skills are as critical as technical expertise for women leaders in Fintech. “Many women in leadership roles grapple with internal doubts, asking themselves, ‘Am I competent enough?’ or ‘Do I deserve to be here?’ These feelings, often tied to imposter syndrome, stem from holding oneself to excessively high standards,” Novikova explains. Her advice? Focus on facts rather than emotions.

“Make a list of your achievements and skills to remind yourself of your competence. Learn to accept praise and trust your decisions,” she suggests.

Another challenge women face is the fear of being perceived as too emotional. “There’s a pervasive stereotype that women are more emotional than men, which allegedly hinders their ability to make rational decisions. This misconception can lead women to suppress their opinions. But emotions are not a weakness – they are a tool. Use empathy to understand the motivations of your team and partners and analytical thinking to back your decisions with solid reasoning. This approach not only enhances your effectiveness but also boosts your confidence,” says Novikova.

A third major hurdle is the perception of women as weak leaders. “Fintech is a high-stakes industry where conflicts are inevitable. Women leaders often face double standards; qualities like decisiveness, which are respected by men, might be criticized by women. Don’t shy away from this. Instead, develop nonviolent communication skills. Understand the needs of others and strive for solutions that balance the interests of all parties while staying firm on your core principles,” advises Novikova.

Becoming a Leader in Fintech

Leadership in Fintech requires a deep understanding of both technology and finance. Novikova recommends pursuing educational programs in digital product management and data analytics as a good starting point. Additionally, learning the psychology of leadership can help leaders better understand themselves and their teams.

Building a sphere of influence is another key step. “Be the person who proposes bold ideas – but make sure you can articulate their value. Regularly engage with product users to understand their pain points. This will enhance your expertise not only in the product but also in its audience. Master the balance between leadership and collaboration,” she advises.

“Leadership in Fintech is about inspiring your team. Use emotional intelligence to build trust with colleagues and stakeholders,” Novikova emphasizes. She also highlights the importance of personal branding.

“Participate in professional conferences, publish articles on industry platforms, and speak at webinars. These activities will establish you as an expert, strengthen your confidence, and increase your visibility in the field,” she explains.

Fintech Needs New Voices

After a productive conversation with Maya Novikova, it has become clear that being a woman leader in Fintech is both a challenge and an opportunity to showcase strategic brilliance. By overcoming internal barriers and following Novikova’s guidance, women can not only achieve professional success but also inspire those who strive for leadership roles.

Fintech, like any industry, benefits from diverse perspectives. Your voice could be the one that changes the game.

Published by Stephanie M.