Laura Galdikiene is the Chief Economist at ConnectPay, with extensive expertise in economic research, financial trends, and market analysis.
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Fintech is reshaping financial services at an unprecedented pace, but one challenge remains—ensuring that financial systems work for everyone. As Chief Economist at ConnectPay, Laura Galdikiene has spent her career analyzing financial trends, identifying opportunities for innovation, and advocating for economic inclusion.
In this interview, Laura shares her insights on how fintech can improve financial accessibility, the role of behavioral economics in smarter financial decision-making, and why cross-border payments remain one of the biggest areas for disruption. She also reflects on her career in both traditional banking and fintech, discussing impostor syndrome, work-life balance, and the systemic changes needed to close the gender pay gap.
As part of FinTech Weekly’s International Women’s Day initiative, we are proud to feature her perspective on the future of financial services and how fintech can drive meaningful change at both an individual and global scale.
R: How has your experience as an economist in both traditional banking and fintech shaped your perspective on the future of financial services, and where do you see the biggest opportunities for innovation?
L: Working as an economist, I’ve always been struck by how many individuals and small businesses around the world still lack access to financial services or face high costs when using them. This limits their financial stability and growth potential.
Fintech has made great strides in improving access, but there’s still much to do. One area where I see significant room for innovation is cross-border payments and remittances.
Many families in developing countries rely on remittances, yet transfer fees remain high—averaging around 6%, and in some cases, reaching 10%. This directly affects families who depend on these funds for basic needs. On a larger scale, this matters for entire economies—a World Bank study found that a 10% increase in remittances leads to a 0.66% permanent rise in GDP.
However, inefficiencies like high fees and delays prevent these benefits from being fully realized. Fintech has the potential to revolutionize this space by making cross-border transactions faster, cheaper, and more accessible.
R: Based on your experience in both banking and fintech, what are the key differences in how these sectors approach economic forecasting and risk assessment?
L: Traditional banks typically have more resources, including dedicated teams for economic forecasting. Fintech companies, on the other hand, often rely on external data and industry reports.
However, I don’t believe this creates a major disadvantage, especially today when economic forecasts quickly become outdated due to global developments. In many cases, in-house economic forecasts serve more as a marketing tool than a crucial driver of business decisions. What truly matters is how companies—whether banks or fintechs—adapt to rapidly changing economic conditions and risks in real time.
R: Your research includes behavioral and experimental economics—how do these fields intersect with fintech, and what insights can they provide for financial decision-making?
L: Behavioral finance studies how people actually make financial decisions, often deviating from purely rational choices due to cognitive biases. Fintech companies can use these insights to design better financial tools that help people make smarter decisions.
For example, they can analyze spending behavior, detect irrational financial habits, and provide personalized recommendations. Behavioral finance principles like loss aversion and herd mentality can help fintechs create user-friendly interfaces that encourage better budgeting, smarter investments, and long-term financial planning.
By integrating behavioral science, fintech can improve financial literacy, reduce impulsive decisions, and ultimately promote healthier financial habits.
R: Throughout your career, what challenges have you faced as a woman in the economics and financial industries, and how have you navigated them?
L: I haven’t faced major obstacles just because I’m a woman in economics, but at the start of my career, I did struggle with impostor syndrome—a common experience for many women. Self-doubt, anxiety, and perfectionism can be difficult to overcome, especially in a field where there are few female role models. Luckily, I had great mentors early on who believed in me, which helped build my confidence.
However, the biggest challenge has been balancing family life with my professional aspirations. I have three children, and while I love my job and the many projects I’m involved in, including research and teaching, juggling everything can be exhausting.
At times, it even made me consider stepping away from my career. What helped me was: taking short breaks when needed (you can always return—your well-being is more important), ensuring equal career opportunities with my partner, and letting go of perfectionism. Finding balance is never easy, but it’s possible with the right mindset and support system.
R: Data show that women still earn less than men, often due to factors such as part-time work and limited access to overtime pay or additional compensation due to family care responsibilities. Do you believe women still have to choose between family and career, and how can the industry better support work-life balance?
L: Yes, the gender pay gap still exists, and one of the main reasons is that women take on more family responsibilities than men. Flexible work arrangements are key to addressing this. The shift to hybrid work models during the pandemic has been particularly beneficial—research by Nicholas Bloom (Stanford) found that hybrid work reduced female quit rates by 54% with minimal impact on men.
However, there’s only so much individual companies can do. The real change needs to happen at a societal level. Social norms still discourage women from competing for higher-paying roles, which further contributes to the wage gap. Research by behavioral economist Uri Gneezy shows that women compete less in patriarchal societies but compete equally with men in matrilineal ones—suggesting that gender differences in willingness to compete are learned, not inherent. To close the gap, we need to change how we view and support women in both workplaces and households.
R: What advice would you give to women looking to pursue careers in economics and fintech, and what steps can companies take to foster a more inclusive environment for female professionals in the field?
L: Economics, finance, and technology are still male-dominated fields, and this isn’t just a challenge for women—it’s a missed opportunity for companies and the society. Diverse teams bring fresh perspectives, drive innovation, and improve financial performance. Despite the gender gap, I’d encourage women to go for it because these industries offer exciting career opportunities. In fact, the World Economic Forum predicts that fintech engineering will be the second fastest-growing job category by 2030.
To create a more inclusive environment for female professionals, companies could offer flexible work arrangements, such as hybrid schedules, to help women balance work and family. In addition, they could ensure more female representation at leadership levels, so young women can see role models in top positions.
