🌈 Visibility Isn’t Enough: What Fintech Gets Wrong About Inclusion

🏳️‍🌈 Pride, Payments & the Real Picture of Inclusion

As floats, flags, and fintech brands fill the streets for Pride in London 2025, a new report from The Payments Association brings a sobering counterpoint to the festivities: while many payment companies are visible during Pride season, most are failing at the basics when it comes to actual inclusion.

According to the UK industry body, which represents banks, fintechs, and payment firms, the majority of organisations still aren’t collecting essential diversity data—especially around sexual orientation and gender identity.

Let’s look at the numbers:

• 73% of payment firms collect gender data during recruitment

• But only 14% collect data on sexual orientation

• And just 27% gather information on gender identity

Why does this matter? Because where data is collected, it drives action. In fact, the survey shows that 100% of firms that collect sexual orientation data also actively evaluate and use it—a clear sign that tracking leads to progress.

Inclusion, in other words, isn’t just about waving flags or turning your logo rainbow for a month. It’s about what happens behind closed doors—especially during hiring, data analysis, and policymaking.

Learn AI in 5 minutes a day

What’s the secret to staying ahead of the curve in the world of AI? Information. Luckily, you can join 1,000,000+ early adopters reading The Rundown AI — the free newsletter that makes you smarter on AI with just a 5-minute read per day.

Sign up to start learning.

💳 Spotlight: PridePay Leads the Way at Pride in London

While the broader industry lags behind in meaningful data collection, some players are using Pride month as a platform for both visibility and engagement.

PridePay, a fintech payment app built by Cardaq for the LGBTQIA+ community, is headlining this year’s Pride in London as a major sponsor. And they’re doing more than just showing up.

Their sponsorship includes:

• Brand placements across high-profile digital and physical sites

• Co-branded installations in Trafalgar Square and Golden Square

• Temporary lounges and a Pride float featuring over 200 team members and supporters

• Interactive elements, like "Tap for Change" contactless donation points to support LGBTQIA+ charities

• A QR code-based treasure hunt and a pledge wall for attendees to share affirmations and allyship messages

These activations go beyond marketing—they aim to spark conversation, drive donations, and promote reflection.

💬 “We Still Have to Hide Who We Are”

Behind the confetti and campaigns is a deeper mission. According to Hugo Remi, CEO of Cardaq, the app’s mission is rooted in the harsh realities many LGBTQIA+ people still face today.

His words serve as a powerful reminder that inclusion in fintech—and every industry—must be more than surface-level.

🚧 What Comes After Pride?

As Pride events wrap up and rainbow logos start to fade from social media profiles, the real test for fintech companies begins.

Visibility is a starting point, not the finish line. The Payments Association’s findings show that when firms take the step to collect and evaluate diversity data, it leads to real organisational change. So why aren’t more firms doing it?

It's time for the industry to ask tough questions:

• Are we only celebrating inclusion when it's marketable?

• Are our internal policies and data practices actually supporting LGBTQIA+ employees?

• Do we evaluate our progress—or just assume we’re doing “enough”?

💡 Forward-Looking: Steps Toward Real Inclusion

If fintech is to live up to its progressive image, it needs to back up the optics with measurable, meaningful action. Here’s where companies can start:

1. Collect D&I data across the full spectrum—not just gender, but also sexual orientation and gender identity.

2. Use that data to identify gaps in hiring, promotions, workplace satisfaction, and more.

3. Invest in education and leadership accountability to embed inclusion into company culture.

4. Partner with and support LGBTQIA+ organisations beyond Pride month—financially, strategically, and authentically.

🏁 Final Word

Fintechs have the innovation, agility, and resources to lead the way in building inclusive economies. But without the data to back it up, the message of inclusion rings hollow.

As PridePay marches through the streets of London, let’s remember: visibility is powerful—but it’s what happens behind the scenes that shapes the future.