Building a Late-Start FinTech Journey

Reimagining Career Pathways in FinTech

In a live recording of FinTech’s DEI Discussions at PAY360 2025, host Nadia welcomes Lorraine Mouat, Partner, Payment Services at Thistle Initiatives, for a raw and inspiring conversation that delves deep into career transformation, regulatory challenges in the payments space, and the importance of true inclusion in financial services. This episode offers critical insight for anyone in the financial technology industry, from leaders looking to diversify their teams to professionals navigating their own paths in FinTech careers.

For Harrington Starr, a specialist in FinTech recruitment, conversations like this are essential in spotlighting the human narratives that shape our industry. Lorraine’s journey is not just a personal story—it is a call to action to reconsider what talent looks like, where it comes from, and how we nurture it in a sector often defined by innovation but not always inclusivity.

From Motherhood to FinTech: Navigating a Non-Linear Career Journey

Lorraine’s route into FinTech is a far cry from the traditional university-to-corporate pipeline often portrayed as the gold standard for success. Her story begins as the youngest of five siblings, growing up in a household where university was not encouraged due to financial limitations. At sixteen and a half, she entered the workforce. Shortly afterwards, she became a mother, and for many years, her identity was primarily shaped by her role within her family.

However, once her children had reached university age themselves, a shift occurred. Lorraine found herself reevaluating her goals, and the idea of building a meaningful, purpose-driven career became increasingly appealing.

This realisation led to a bold move: she took a career break to pursue higher education as a mature student. Over the course of four years, she committed herself to university studies before returning to the workplace with a renewed sense of purpose. It was at this point—later than most—that her formal career in financial services began to take shape. From operations to compliance and finally consultancy, Lorraine built her professional journey with grit and determination.

Her story is a powerful reminder that talent doesn’t follow a fixed timeline. For FinTech recruiters and hiring managers, it’s a compelling argument for rethinking how we assess potential—moving beyond CVs and degrees to value lived experience and long-term resilience.

Shaping the Regulatory Landscape: Thistle Initiatives’ Role in Financial Services

Today, Lorraine is a Partner at Thistle Initiatives, a respected regulatory consultancy working across a range of financial services sectors. At its core, Thistle provides specialist support in compliance and risk, working with firms in wealth management, investment, consumer credit, and most notably, payment services—a sector Lorraine leads.

As she explains in the podcast, Thistle’s mission is to help clients navigate the often complex and shifting regulatory environment. Whether a start-up is seeking its first authorisation, a scale-up needs help maintaining ongoing compliance, or a company is navigating a merger or acquisition, Thistle’s expertise ensures firms can manage their obligations without compromising their growth ambitions.

Lorraine highlights that many firms approach Thistle during moments of high pressure—either they are scaling quickly and struggling to align compliance infrastructure, or they’ve run into regulatory trouble and need urgent remediation. Her role is to offer strategic guidance while making compliance feel less like a hurdle and more like an enabler of sustainable growth.

For those in FinTech jobs, particularly in regulatory roles, Thistle’s approach exemplifies how risk and innovation can coexist. It’s a model that many forward-thinking firms could learn from—especially in a sector where regulatory agility is becoming as valuable as technical know-how.

Payments Under Pressure: Innovation and Regulation in a Fast-Moving Sector

The payments industry is arguably one of the most dynamic areas within financial services, and Lorraine is keen to emphasise both its promise and its pitfalls. According to her, payment services are often the most technologically advanced part of the sector, with firms constantly developing new platforms, tools, and solutions to meet the evolving needs of businesses and consumers.

However, with rapid innovation comes increased scrutiny. Regulatory expectations have intensified, and firms that scale without investing in robust governance structures often find themselves in difficulty. Lorraine explains that many payment companies face challenges balancing their ambitions with their compliance frameworks. As their business models expand, their internal controls often lag behind.

She also points to broader macroeconomic and political instability as factors that have impacted the industry. From government budget changes to global geopolitical tensions, uncertainty has made many firms hesitant to invest. The early part of the year saw stagnation in some corners of the payment’s ecosystem, but Lorraine believes this is beginning to shift. Momentum is returning, and with it comes renewed opportunity for professionals looking to make their mark in FinTech.

As FinTech recruitment specialists, Harrington Starr understands these market fluctuations and the importance of aligning talent with the evolving needs of the industry. Whether it's placing a compliance expert to shore up governance, or finding innovative thinkers to lead product development, we see firsthand how crucial agility is to success in today’s financial technology landscape.

Broadening the Inclusion Lens in FinTech Jobs

Inclusion is a recurring theme throughout this episode, and Lorraine offers a refreshing take on what it really means to build diverse teams. While gender equality remains an important issue, she urges the industry to move beyond binary definitions of diversity and consider wider socioeconomic, educational, and experiential factors.

Lorraine shares that some of the most impressive individuals she’s worked with did not attend university or follow a traditional corporate trajectory. Instead, they brought with them a "fire in the belly"—a hunger to succeed born of real-world experience and perseverance. In contrast, she notes that a system focused solely on academic credentials risks excluding valuable voices.

This insight is particularly relevant to FinTech recruitment. At Harrington Starr, we believe in championing diverse talent pools and encouraging clients to think holistically about what constitutes potential. It’s not just about finding someone who ticks all the boxes on paper—it’s about recognising those with the drive, adaptability, and perspective to thrive in a fast-changing industry.

Lorraine also touches on age inclusion—another under-discussed aspect of workplace diversity. She critiques the overrepresentation of middle-aged white men in leadership, calling for greater age diversity at board level. Her suggestion to include younger, perhaps less conventional voices on executive teams is not just symbolic—it’s a practical strategy for avoiding groupthink and injecting fresh thinking into business strategy.

The Customer Is Key: Inclusive FinTech Should Start with the User

While much of the inclusion conversation focuses on internal teams, Lorraine makes an important point about the end user. As financial technology evolves, there is a risk of alienating those who are not as tech-savvy or who feel excluded by digital-first solutions. She stresses that product innovation must be paired with empathy—ensuring services are accessible and intuitive for all demographics.

There is still a sizable population wary of technology, and in Lorraine’s view, the FinTech sector cannot afford to leave them behind. Whether it’s through simplifying user interfaces, offering alternatives to digital-only services, or investing in financial literacy, firms must design with inclusivity in mind.

For FinTech businesses, this is not just a moral imperative—it’s a commercial opportunity. Reaching underserved markets can drive growth, build loyalty, and differentiate a brand in an increasingly crowded space. And for those working in product, UX, or customer experience roles, understanding these user needs is fast becoming a key competitive advantage.

Walking the Talk: Inclusion Must Go Beyond Optics

The final segment of the podcast tackles a common challenge in diversity efforts: performative inclusion. Lorraine describes a scenario that many will recognise—companies outwardly promoting inclusion through social media, employee groups, and public pledges, yet failing to embed inclusive practices into their day-to-day operations.

She argues that real change starts with introspection. Companies must evaluate their recruitment strategies, promotion practices, and internal policies to ensure they are not inadvertently excluding talent. This requires data, honest conversations, and a willingness to question the status quo.

Importantly, Lorraine believes inclusion is everyone’s responsibility. It’s not the job of a single DEI officer or HR team. From junior team members to senior leadership, every individual has a role to play in creating a more equitable environment. And for those of us in FinTech recruitment, that means advising clients on best practice, advocating for overlooked talent, and holding ourselves accountable to the same standards we promote.

Building the Future of FinTech Recruitment with Inclusion at the Core

Lorraine’s story is more than an individual success—it’s a roadmap for what a more inclusive financial technology sector could look like. Her message is clear: there is no one-size-fits-all path to success, and the industry must evolve to embrace the full spectrum of talent available to it.

For Harrington Starr, this episode of FinTech’s DEI Discussions underscores our ongoing commitment to making recruitment a vehicle for positive change.