Women in FinTech: Kasia Jamborska
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In our ongoing Women in FinTech series, we bring you the latest post that focuses on the important role of our business development (BD) team in showcasing Nethone’s advanced fraud solution. It just so happens one of our team members, Kasia Jamborska, is a Vice President of BD. We will discuss her experience working in international fashion and beauty companies, dealing with luxury eCommerce brands. We also aim to highlight how the FinTech community can lead the way in closing the gender gap and the industry prospects for the future. Women in FinTech Kasia Jamborska

Women in FinTech: opportunities for women to bridge the gender gap

Kasia, please tell us about your background in the fashion and beauty industries, working with luxury eCommerce brands and how it led you to Nethone?

I studied international business management and the management of fashion and luxury companies, which was later followed by gaining valuable experience in fashion and beauty companies across Europe and in the United States. During this time, I was fascinated by the growth of e-Commerce but also with the problems encountered in the industry, namely fraud related issues in luxury e-Commerce. My interest peaked in seeing how IT solutions can prevent luxury e-Commerce fraud, which is one of the major reasons I joined Nethone.

Globally, the number of women working in various industries is still low, especially ones that have traditionally seen only males in senior positions, such as finance and technology. On the other hand, the FinTech industry is definitely making progress when it comes to achieving gender equity - there’s still a long way to go, but seeing progress being made is a positive sign. More women than ever before are now choosing finance and technology related courses in higher education, and later seeking senior roles in these sectors. The FinTech community perfectly blends these two industries together, while also having a fresher outlook on all manner of issues - closing the gender gap being one of them. Working at Nethone, for example, all employee opinions and input help to enrich the company, regardless of anyone’s position or sex. This is how the workplace should function in order to achieve gender equality.

What types of fraud are experienced in luxury e-Commerce and how do you help companies overcome this problem?

The biggest risk to luxury e-Commerce companies is loyalty program fraud, promo abuse and return abuse. Although many companies will have some security and antifraud measures in place for payments, it is often the case that loyalty programs where points accounts are created, are often overlooked, or their financial value is not fully appreciated. Customers often forget they have such accounts where accumulated points lie dormant. Fraudsters will try to perform account takeovers (ATO) in order to use these points in exchange for goods which can then be resold online for profit. Promo abuse is also common in luxury e-Commerce, where merchants provide discount codes and rewards for signing up with a new account. Here, even people that don’t consider themselves fraudsters will try to take advantage of this internal company loophole by signing up with multiple new accounts to gain discounts. The same goes for return fraud, again, people abusing company rules to seek refunds for items that have been used, or even returning a different, less valuable item to collect the value of the original. Fraudsters and abusers know how to work around ineffective policies.

As for my role as VP of Business Development, I use my previous experience to help luxury eCommerce companies discover the potential of Nethone’s advanced fraud solution in preventing all types of fraud that affect not only payments and transactions, but loyalty programs and promotions. Naturally, experience in these fields is essential to be an authority on the subject matter, but being able to empathize with the people who are experiencing problems is also a key quality for anyone involved in business development today. Knowledge and understanding helps to build a relationship with potential customers and build trust.

Of course, helping potential customers understand the full nature of the problem is essential. Education is key, which can help improve internal company policies, but the tech solution is invaluable. Being able to promote a product or service is one thing, but the proof comes in the tech capabilities. Part of the role of my colleagues and I is to show potential customers how our advanced fraud solution works in practice. This is done not only through presentation of the solution, but providing live demonstrations to prove how effective it can be in reducing online fraud in their businesses. For luxury e-Commerce brands, we have a proven track record in preventing loyalty program fraud and promo abuse by understanding every single user that uses a service. Potential clients are impressed by the advanced nature of our solution which uses artificial intelligence and machine learning to every user’s device setup and user interactions. It’s impressive tech, but also enjoyable to demonstrate.

What do you think the FinTech industry will look like in the next 10 years?

Good question! As things stand, e-Commerce, M-Commerce, digital and mobile banking are growing. The world is moving online. I recently read an interesting report which stated that by 2025 72% of all online experiences will take place on mobile devices. We already know that global fraud rates continue to rise and that as more and more people perform online payments and transactions, the risk of being defrauded by fraudsters increases significantly.

In terms of the workplace, the number of women working in finance and technology sectors will continue to grow. It is already growing. I believe there is a real chance to achieve gender equality within 10 years. But the key difference in this time, or even less, will be the fact that artificial intelligence and machine learning will do a lot of the jobs that are still being done by data scientists and developers today. The product building work will be machine based, but the promotion will be done by humans. There are already indications and talk of the key roles in the FinTech industry of the future being in business development and marketing. The truth is, we can make predictions about how FinTech will look in 10 years, however, it is almost certain that we cannot fully predict everything - we just need to wait and see. What is certain is that the FinTech industry is already having an impact on financial services today, so imagine how things will look by 2030 and beyond!

Would you like to share some advice with women looking to join the FinTech community?

All women in FinTech today could very well be the next female founders of the companies of tomorrow. Everyone needs to start somewhere, but why not work somewhere that is pushing to close the gender gap? It’s true that finance and technology have traditionally been dominated by men, with the number of women interested in such fields being quite low in the past. But this is changing, especially with the FinTech community and digital industries in general being more open than others to the changing realities of the working environment. There are real opportunities for women to be part of the drive for change and I'd encourage all women to play a part in achieving gender equality in the workplace.


If you would like to effectively combat loyalty program fraud and promo abuse in your e-Commerce business, let us show you how...


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