Once, the world of finance was a walled garden; its opportunities, a secret held close for women. Even after breaking the corridor that bridges her entrance, her appearance was often evaluated rather than her intelligence.
[ad]
She constantly encountered an uphill battle with unfavourable laws and policies, such as being legally fired for being pregnant. Her desire to climb to the top floors also remained a steeper path, as she often found herself underrepresented in leadership positions compared to her other counterparts.
As the industry began to take shape during the suffrage era , women began to climb. But as they climbed, something else was taking place. The industry started to see the rise of a formidable force of women who were shattering ceilings. Today, women are leading the charge in innovation, not to mention dispelling myths about what it means to succeed in this field.
In this edition of The Guardian Life, we featured some of the women who are leading this change—Titlayo Olubiyi, Ogechi Altraide, Ochanaya Dan-Ugo, and Vivian Okolo. These ladies, like many other accomplished businesswomen, have gone from their early days of facing obstacles to taking the lead in discussions about the impact of the global economy at Unified Payment Services Limited.
Motive for Action
One often wonders why women, traditionally labelled as incapable, dedicate themselves to rigorous academic pursuits to pursue professions in finance when society dictates that they sit at home than count numbers.
This passion, Altraide said, was a seed planted by her family’s work ethic and intricacies of finance, which has shaped her path and fueled her determination to make a positive impact.
“My journey in finance was sparked by a deep-seated passion for understanding and navigating the complexities of financial systems, particularly in Nigeria and across Africa,” shared Altraide, the Managing Director of Hope Payment Service Bank, with Guardian Life.
As an MBA graduate with over 20 years of experience across major banks, Altraide’s leadership has been instrumental at UBA where she rose to non-executive director in Tanzania, the then-known Diamond Bank, Ecobank, and now Hope.
Similarly, Dan-Ugo, Director and Group Chief Risk Officer at Unified Payment Services Limited brings a unique perspective to the table, having transitioned from law enforcement.
“I’ve always been intrigued by the intricate nature of risk management and the pivotal role it plays in the financial sector,” Dan-Ugo says. “My transition from law enforcement to finance was driven by a desire to apply my skills in a new and challenging environment.”
Her thirst for challenge, Dan-Ugo noted, led her to pursue further education in finance, where she equipped herself for success in this new domain. With over two decades of experience, her expertise is recognised through her role as a member of the Visa Risk Executive Council for Sub-Saharan Africa for over four years.
Olubiyi, Director of Financial Institutions at Unified Payment Services Limited, cited her “desire to work in a dynamic sector that impacts people’s lives directly” as what motivated her to embark on a career in finance.
Today, her two decades of experience across marketing, sales, and leadership roles at UACN, MTN, Nokia West Africa, and Samsung Electronics West Africa showcase her consistent track record of success.
Okolo shares with Guardian Life that she was driven by a passion for enhancing financial systems through innovation. ”My background in Computer Science and Engineering provided me with a strong foundation to explore this intersection,” Vivian explained.
Prior to her current position as Unified Payment Services Limited’ Corporate Services Director, Okolo has led various key roles, including Group Head of Financial Institutions, Group Head of IT, Head of Training, and Head of the Acquiring Department, where she directly oversaw the expansion of the company’s merchant network and exceeded targets.
Catalyst for Growth
Unified Payment Services Limited has been at the forefront of financial technology services in Nigeria since its establishment in 1997. The company acknowledges this success wouldn’t have been possible without the significant contributions of these ladies.
Dan-Ugo’s expertise in risk management has been instrumental in safeguarding UP against potential setbacks. Reflecting on a defining moment, she recounted a scenario of how her teams had to quickly identify and mitigate a potential risk related to new payment regulations that could lead to a setback for the company.
[ad]
“By implementing proactive measures and collaborating with key stakeholders, we ensured compliance while maintaining operational efficiency. This approach not only protected the organisation from potential losses but also positioned us as a leader in regulatory compliance within the industry,” Dan-Ugo shared.
Altraide, the CEO of Hope PSBank, is another beacon of leadership. Despite juggling marriage and motherhood, she has spearheaded remarkable growth and innovation for the digital bank, proving her position is not merely a decoration but rather a means of bringing financial services to those who need them most.
“One of the initiatives I championed at Hope PSBank was the introduction of digital banking solutions tailored to meet the needs of underserved communities. By leveraging technology, we were able to expand our reach and provide financial services to a wider audience, driving growth and innovation within the company,” Altraide explained.
The Hope High-Interest Account (HHIA), created especially for individuals looking to save towards specific goals, is one of the bank’s most recent innovations, developed by Altraide.
Olubiyi, on the other hand, led the development and launch of Payattitude, a pioneering payment solution that revolutionised customer interactions with company services.
“This initiative not only drove revenue growth but also enhanced customer experience and loyalty, positioning UP as a leader in the industry. Till date, Payattitude remains unique in its offering, enabling people to fully manage multiple bank accounts on one app,” Olubiyi stated.
Okolo, another trailblazer at UP, secured a pivotal achievement in 2011—the Payment Terminal Service Provider (PTSP) licence from the Central Bank of Nigeria (CBN).
She told Guardian Life that her experience in the acquiring space played a crucial role in this achievement, as she and her team were able to navigate regulatory requirements and market dynamics to secure this important milestone for the company.”
Inclusion And The Future
The conversation, filled with warmth and experience, highlighted the importance of resilience and perseverance. All four women pointed out the ever-changing nature of finance, stressing the need for agility and a willingness to adapt.
“The finance industry is constantly evolving,” said Altraide, “it is essential to stay agile and open to change.”
Reflecting on her own journey, Altraide acknowledged the barriers she encountered in the field and therefore advocated for a supportive work environment that values diversity and inclusivity and the implementation of policies and programs that support women’s advancement.
[ad]
“To aspiring women believe in yourself, stay true to your goals, and never be afraid to take on new challenges. With determination and perseverance, you can achieve great success and make a lasting impact in the industry.”
Olubiyi said it has become commonplace to witness women ascending to the zenith of their careers within the financial institutions, noting that at Unified Payment Services Limited women make up a large part of not only her team but the general leadership.
Rather than succumbing to the face of challenges, Olubiyi said one of the biggest lessons she learnt is the importance of resilience and perseverance in the face of challenges, and urged women to keep their eyes on the goal, but they also prioritize self-care and maintain a healthy work-life balance.
“Most women never give themselves room to breathe or even acknowledge the hard work they are putting in. It is important that we give ourselves a pat on the back as we forge on towards greater success. Every woman’s success is an inspiration to another woman. We should be conscious that other women are getting inspired by watching us attain our goals.”
Whereas Dan-Ugo emphasised on the need for specific skills to succeed in finance, highlighting analytical thinking, financial acumen, leadership, and communication.
She stated that women can be at the forefront of emerging trends such as digital transformation, blockchain technology, and sustainable finance are shaping the future of finance.
“Women can be at the forefront of these changes by actively participating in the development, implementation and transfer of these innovative solutions, lending their unique perspectives and insights to technology evolution.”
Corroborating this is Okolo,“To all women aspiring to succeed in finance,” she said, “believe in yourself, stay curious, and never stop learning. The financial industry offers a wealth of opportunities for those willing to seize them. Embrace challenges as opportunities for growth and remember that your unique perspective and talents are invaluable assets in shaping the future of finance.”
[ad]
