Temenos Champions Female Retention as Business Imperative

As International Women's Day approaches, the technology industry faces a significant challenge beyond recruitment. 

According to Barb Morgan, Chief Product and Technology Officer at Temenos, while progress has been made in attracting women to tech roles, retention remains a persistent issue that companies must address with renewed urgency.

The Retention Crisis: Understanding the Numbers

The statistics Barb highlights are concerning. "The numbers are stark. Research from Accenture and Girls Who Code shows that half of women in tech roles in the US leave by age 35. 

“In the UK, Women in Tech reports that 56% exit within 10 to 20 years of starting their careers," she reveals.

"The reasons are well documented: limited career progression, lack of flexibility, and too few female role models," Barb explains. 

She emphasises that this issue extends beyond dedicated technology firms. “Despite progress in attracting women to the tech industry, retaining female talent remains a persistent challenge. 

“As International Women's Day approaches, companies must move beyond recruitment and take decisive action to retain women in core tech roles—not just within fintech and technology firms, but in engineering, product development, and AI,” Barb states.

Beyond Ethics: The Business Case for Diversity

Barb is clear that while diversity and inclusion are ethical imperatives, there is also a compelling business case for retaining women in technology roles.

“Beyond the ethical case, retaining women in tech is a strategic business imperative. Financial services and fintech serve a diverse customer base, where women hold increasing financial power—not just in consumer spending, but in high-value investments,” she notes. 

“Companies that fail to retain women in tech risk losing critical representation in product design, ultimately weakening their connection to the market.”

This strategic dimension becomes even more significant in the context of artificial intelligence. Barb points to concerning research about gender bias in AI development.

“This need is even more urgent in the age of AI-driven transformation. AI must be built for everyone, yet research shows that nearly half of AI systems exhibit gender bias. 

“Business leaders recognise the importance of diverse leadership in AI, with 73% acknowledging that having more women in leadership is key to mitigating bias. 

“Yet only 33% of companies have a woman leading their AI strategy, according to IBM,” she explains.

Barb argues that diverse teams are essential for creating truly inclusive technology. 

“Building inclusive, customer-centric AI solutions requires a workforce that reflects the diversity of the customers these systems serve. 

“Women in tech bring a holistic perspective, combining deep technical expertise with insights from business functions. 

“Studies also show that, on average, women score higher in emotional intelligence – qualities like empathy and social awareness that are critical in AI development and product design,” she points out.

Practical Solutions: Closing the Retention Gap

“Strengthening career pathways for women in tech is both an opportunity and a necessity,” Barb emphasises. 

“Companies that act now will be better positioned to attract top talent, drive innovation, and create competitive advantage.”

She outlines several concrete steps that companies should take to address the retention challenge. 

“To close the retention gap, companies should promote clear, flexible career progression. For example, at Temenos, we have introduced a dual career path that enables top technologists, regardless of gender, to progress to senior levels without having to move into management,” Barb shares.

She also emphasises the importance of mentorship and sponsorship. “Actively mentor and sponsor women in tech. Senior female leaders play a vital role in engagement and retention, inspiring the next generation of talent,” Barb advises.

Investment in early-stage talent development is another critical component of Barb's strategy. 

“Invest in early-stage talent. Beyond scholarships and internships for women in STEM, companies must provide structured development programmes that sustain long-term careers,” she recommends.

Barb concludes with a warning about the consequences of inaction: “The cost of inaction is clear: companies that fail to retain diverse talent will lose ground in an increasingly competitive landscape. 

“The future of fintech belongs to those who build organisations that truly reflect the markets they serve.”

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