Cyprus 4.0: Ugne M. Buračienė

Ugne M. Buračienė began her work in FinTech 15 years ago at a software and technology company. Since then, she was worked incredibly hard to become recognised as a thought leader in the FinTech industry. Today, she serves as Group CEO of payabl., a leading FinTech company in the payments space, with offices in Cyprus, the United Kingdom, Lithuania, the Netherlands, and Germany.

“I have worked to create a culture where everyone feels valued and respected, regardless of their gender, race, or background.”

payabl. was established in 2011 and today is a leading financial institution that facilitates transactions from 300+ payment methods. With their robust technology and intelligent fraud prevention, they are helping businesses grow and positively transform the communities they engage in.

“At payabl., we offer customers a high-tech, high-touch approach, providing future-ready payment solutions for merchants from a wide range of sectors around the world,” Buračienė said.

Buračienė understands the importance of a company’s reputation and the increased business opportunities that come with it. “My reputation in the FinTech industry has afforded me the opportunity to advise Klarpay and the Cyprus-based tech-investor WhiteBream,” she said.

As a pioneer and multifaceted leader wearing many hats, Buračienė also serves as the Country Ambassador for the European Women Payments Network, where she is championing the growth and empowerment of women in the payments industry.

When asked about payabl. and how her organisation empowers business growth through innovation in payments, Buračienė maintains that her company is always searching for innovative ways that will enhance their merchants’ payment experiences; one such platform is payable.one, which aims to unify hundreds of various processes to save both time and money. “payabl.one is undoubtedly a game changer for a business, providing our merchants with a comprehensive, omnichannel payments solution.”

As a woman with a pioneering role, how have you played a key part in bringing about change, and how are these changes enhancing your organisation’s potential for future growth?
“I believe that diversity is essential for creating a dynamic and innovative culture. One of the ways I have played a key part in bringing about change is by championing the importance of diversity and inclusion at payabl..
“I have worked to create a culture where everyone feels valued and respected, regardless of their gender, race, or background. By fostering an inclusive culture, we have been able to attract and retain top global talent from diverse backgrounds, which has enhanced our organisation’s potential for future growth.

“I have also been actively involved in promoting women’s leadership and entrepreneurship through various initiatives and partnerships. I am also an ambassador for the European Women Payments Network (EWPN), a non-profit organisation that empowers women in the payments industry and promotes gender diversity and equality.

“I enjoy speaking at conferences and events, sharing my insights and experiences through articles and blogs, and collaborating with other thought leaders and organisations to advance the cause of gender diversity in the payments industry.
“By working together, we can break down the barriers that have traditionally prevented women from pursuing careers in PayTech and create a more diverse and innovative industry that benefits everyone.”

How does an increase in the number of women in the workforce benefit businesses and organisations?
“Women account for half of the overall population. If a company does not reflect women equally in its operations, it is only speaking to half of the market. Why would one knowingly deny oneself 50 per cent of one’s company potential? There is simply no logic in this.”

Do you believe men still dominate most influential companies in the world today? If so, how does one break down the barriers of this gender imbalance?
“Men still dominate many influential companies in the world today. While there has been progress towards greater gender equality in recent years, there is still a long way to go in terms of breaking down the barriers of this gender imbalance.

“One way to break down these barriers is to create policies and initiatives that support women’s advancement and provide equal opportunities for career growth and development. It also means challenging unconscious biases and promoting an inclusive culture that values diverse perspectives and contributions.

“Women will always have different needs, the most obvious being maternity leave, but this should not be seen as a disadvantage to any employer. This is a part of life. Women have babies, but they also run huge corporations. It is time to stop seeing this as a weakness – this narrative is well-worn and tired.”

Did you have a woman leader as a mentor, or are there specific women who inspire you and why?
“The biggest female influence in my life and career has been my grandmother; her values and her business sense, leadership and focus gave me the best lessons as a growing adult.

“My strength comes from close examples and encounters I had as a young woman building my career, and it is important to recognise women and their potential in your close environment.”