Careers rarely follow a straight path, and for many women leaders, the journey is shaped as much by moments of doubt and resilience as by milestones and titles. For Monica Agarwal, Group Head of People & Talent at MoneyHero Group, leadership has been built on the belief that growth begins the moment you take ownership of your own story.
Over the years, she has built HR functions from the ground up, guided organisations through complex transformations, and navigated leadership roles across Asia Pacific, Europe, and the United States. But the experiences that shaped her most were not just about strategy or scale, they were about courage: speaking the language of business in male-dominated environments, protecting culture even when it meant making difficult decisions, and choosing authenticity over conformity.
In this conversation for International Women’s Day, Agarwal reflects on the defining moments of her journey, the evolving inclusion agenda, and why empowering women to lead authentically will be central to building future-ready organisations, while also highlighting the gaps that must be addressed across industries for women to contribute equally to the global economy.
Q. Looking back at your journey, what defining moments shaped you as a leader, particularly as a woman navigating FinTech and financial services? Were there challenges that ultimately became turning points?
If I look back, one of the earliest defining moments in my career came when a mentor told me, “You own your career, not your job title.” That single sentence reshaped how I approached growth.
I stopped waiting for validation and started curating experiences deliberately, even when they felt uncomfortable.
Building HR functions from scratch across fintech and financial services was never about policies. It was about credibility. In male dominated, numbers driven environments, you are often tested on commercial acumen before anything else.
Early in my career, I realised that if I wanted a seat at the table, I needed to speak the language of business fluently. Revenue, margins, regulatory risk, investor expectations. Once leaders saw that I could connect people strategy directly to enterprise value, the conversation shifted.
A major turning point was leading people transformation during complex restructuring and post IPO scaling. There were moments when morale dipped and uncertainty was high. The easy option would have been to retreat into the process. Instead, we doubled down on transparency and culture.
At MoneyHero Group, during a particularly fragile period, we rebuilt engagement intentionally. We introduced a transparent job architecture framework, expanded equity participation through RSU awards, and created open town halls where tough questions were welcomed. Over time, retention increased by 40% and engagement scores rose significantly in key markets.
Another defining moment was making the decision to let go of a high performing leader whose behaviour was eroding trust. On paper, the numbers were strong. But culture is not negotiable. That decision reinforced for me that leadership is more on courage over comfort.
Especially as a woman leader, there is sometimes pressure to be agreeable. I learned that clarity, backed by conviction, earns respect. Q. Having worked across Asia, Europe, and the US, what capabilities do you believe are most critical for young women aspiring to leadership roles in fast-evolving industries like FinTech? And in your experience, can women stay authentic to their leadership identity while advancing in traditionally male-dominated spaces?
The first capability is learning agility. In fintech, the half life of skills is shrinking rapidly. Success depends less on your degree and more on how quickly you can adapt. Curiosity is a competitive advantage.
Second is commercial fluency. Understand the business model deeply. How does the company make money? What are the regulatory risks? What does the balance sheet tell you? When you connect talent decisions to business outcomes, you move from support function to strategic partner.
Third is resilience. Fintech operates at speed. Regulations shift, technology evolves, markets fluctuate. You need emotional steadiness amid change.
And yes, women can absolutely stay authentic. In fact, authenticity is a leadership asset. Early on, I tried to mirror more dominant leadership styles. Over time, I realised that empathy, thoughtful listening, and collaborative decision making were not weaknesses. They were strengths.
You do not have to become louder to be influential. You have to become clearer. When you are grounded in your values and confident in your expertise, you can lead powerfully without compromising who you are.
Q. As someone who drives culture transformation, how do you see the inclusion agenda evolving today? Beyond flexible work and policy frameworks, what practical shifts should organizations prioritize to create truly enabling environments for women to thrive?
Inclusion cannot be reduced to policies. Flexible work matters, but it’s a basic requirement, not a game-changer.
The real shift must happen in three areas.
First, access to opportunity. Are women being placed in revenue generating, decision critical roles, or are they clustered in support functions. Real inclusion means giving people access to high-visibility projects and responsibility for P&L (profit and loss) outcomes.
Second, performance management. Many systems still reward visibility over value. We need to redesign performance frameworks to recognise collaboration, impact, and capability growth.
Continuous feedback, rather than once a year ratings, creates fairer and more developmental environments.
Third, psychological safety. Women thrive where they can speak without penalty. During restructuring phases, we created structured listening forums, cross market town halls, and leadership AMAs. Engagement improved because people felt listened to and their feedback influenced real decisions.
Inclusion gives everyone equal access to high-impact work and opportunities to contribute meaningfully. Transparent expectations and accountability ensure fairness and consistent growth for all team members.
Q. When it comes to building future-ready women leaders, what role should organizations play in expanding access to leadership development, digital fluency, and emerging capabilities such as AI? How can companies ensure women are not left behind in this next wave of transformation?
Organisations have a responsibility to democratise access to growth.
AI and digital transformation are not neutral. If women are not intentionally included in reskilling pathways, the gap will widen.
There are three practical actions I advocate.
First, embed digital fluency into mainstream leadership programmes, not as optional add ons. At MoneyHero, as we integrated AI tools into workflows, we ensured managers across markets received structured guidance and practical exposure, not just technical teams.
Second, sponsor women into future critical roles. Sponsorship is different from mentorship. It means advocating for women to lead transformation projects, not only participate in them.
Third, measure representation in emerging capability areas. If AI task forces, data squads, or product innovation teams lack diversity, leaders must intervene intentionally.
The future of HR, and business, will be augmented by AI. But creativity, empathy, and judgement remain deeply human. Women bring powerful strengths in these areas.
Q. From your vantage point across Southeast Asia, how have organisations progressed in empowering women in recent years? Where do you see the biggest opportunities, or gaps, in accelerating women’s participation and leadership in the regional economy?
There has been meaningful progress. More women are visible in leadership conversations, board discussions, and fintech ecosystems than a decade ago. Flexible models have become more normalised, and conversations about mental wellbeing are more open.
However, the biggest gap remains in senior Profit and Loss ownership and board representation. Many women are leading functions, but fewer are running businesses.
Another gap is mid-career retention. Many women employees leave mid-career, often during caregiving phases such as raising children or caring for family. Companies can reduce this attrition by creating structured return-to-work programs, clear internal mobility paths, and fair reward systems. These measures support continued career growth and ensure talented employees stay engaged throughout their careers.
Southeast Asia has an incredible opportunity. The region is digitally ambitious and demographically young. If we intentionally invest in women’s digital capability, entrepreneurship, and leadership pathways, we unlock not just inclusion, but economic acceleration.
Q. As we mark International Women’s Day, what message would you share with women leaders, and those just beginning their leadership journeys, about ambition, resilience, and redefining success on their own terms?
I would say this.
You should never apologise for having ambition. Ambition means understanding your potential and pursuing it deliberately, not acting aggressively toward others.
Stop chasing titles alone. Chase skills, impact, and relationships. Careers today are not ladders, they are lattices. Sometimes the most powerful move is sideways. Sometimes growth feels uncomfortable before it feels rewarding.
Resilience is not about never feeling doubt. It is about continuing despite it. I have had moments of uncertainty, particularly during large transformations. What carried me through was purpose.
When your work aligns with your values, endurance becomes easier.
And finally, define success for yourself. For some, it may be board leadership. For others, it may be building a team that thrives. Success is not one dimensional.
Leadership, at its core, is about creating more leaders, not more followers. If you leave people braver and clearer after interacting with you, you are already succeeding.
That is the legacy worth building.