Duena Blomstrom: The Fintech Star Putting People Before Tech

“Humans are not resources but people.”

If there were ever an exemplar of a thought leader, Duena Blomstrom is it. The author of Emotional Banking, People Before Tech, and the forthcoming Tech-Led Culture, Duena is the creator of the powerful concept of 'Human Debt' – the debt accrued by organisations that don’t invest in people and meet their needs.

It seems natural, on a level, that the tech space would neglect the human element – and with AI having its moment, this danger is bigger than ever. That’s why Duena is an advisor to foremost executives and companies on their people strategy, communicating the importance of prioritizing human elements in this ever-evolving technological landscape. Having co-founded PeopleNotTech, a groundbreaking company offering a software solution to elevate psychological safety, emotional intelligence, team performance, and overall well-being in teams, psychological safety is a vital concept in Duena's work.

She explains that this relatively new – but well-evidenced – idea focuses on fostering a team dynamic that allows members to express themselves without fearing negative repercussions. Despite misconceptions that it’s a mere "nice to have," Duena notes that psychological safety is crucial to employee well-being, which in turn directly impacts retention and productivity.

Her company PeopleNotTech aims to help companies address this problem. It not only measures and increases psychological safety in teams but also enhances emotional intelligence and adaptability for remote work. This is achieved by measuring factors such as flexibility, courage, openness, learning, emotional connection, satisfaction with remote work, and company culture. Using this info, PeopleNotTech then provides solutions at the team level, which is where interventions are most effective.

As Head of Product at PeopleNotTech, Duena puts her principles into practice. Using a cognitive behavioural team approach (inspired by her background in psychology), she collaborates with both tech experts and psychologists in what she describes as “a grand Agile experimentation environment.”

The creation of PeopleNotTech was inspired by Duena’s experience of Human Debt. She’s witnessed the pervasive nature of Human Debt in companies both established and fledgling. Observing the impact of Human Debt has stayed with her – it’s clear making a human impact fuels her work and her mission.

She reflects; "What moves me most is seeing developers or people using our technology tear up either with gratitude that they are seen and heard, or with the relief that they no longer have to bring only a part of themselves to work."

To Duena, it’s evident that many companies still struggle with a mindset shift away from traditional, hierarchical, and fear-driven work environments. For those organizations, Duena notes that it's crucial to seize the opportunity to reevaluate their purpose, desired outcomes, customer needs, and optimal work methods.

“Don't miss out on the opportunity to go back to ‘tabula rasa’ in terms of interrogating your purpose, what outcomes genuinely mean, what the consumer really wants and what are the best ways to work that make sense to serve these goals,” she states.

And the ultimate goal? “A renewal around people, where their well-being and happiness is priority zero as it is foundational to all else.”

Duena's path seems to be forged through empathy and understanding the human condition. When asked for advice for young women in tech, she doesn’t hesitate. “Don't ever limit yourself to an 80s power suit trying to ‘pass for one of the guys’ – be who you are and force a proud, authentic path where you find and defend your passions from the heart and with all conviction every day.”

She describes her kind, empathic, autistic 12-year-old son as “the absolute best thing I’ve ever done.”

Her book Emotional Banking made her a legend in the world of banking and fintech. “I have the same advice for banks as I do for any other companies looking to succeed: double-down on people, rethink ‘culture’ from zero and insist on the HumanWork.”

But she’s quick to note that her advice is not only specific to banking – they are basic guiding principles for good organisation and leadership in the 21st century. “There is nothing specific in having the tenets of a humans-first culture.”

While Duena's latest book, Tech-Led Culture, seems to flip her message on its head, it's actually a natural continuation of her work. Tech is not only an inevitability in our societies, it has become inextricably intertwined with culture. To put humans first, it is necessary to acknowledge that.

“[The book] deals with the great irony of how the need for technology and the way we engage with it now with agility is what will underline the need to become more people-savvy and caring.” Tech-Led Culture is out in October and is available for pre-order on Amazon.

When asked about the future, Duena puts it best in her own words: “The most important change is the realisation that humans are not resources but people. That emotions should not be banned in the workplace. That technology cannot be created at its best if we do not collaborate in earnest and use it. That AI will replace all else but our human nature so our main job is to identify exactly what those intensely human skills are and hone them.”

Duena’s work is a reminder that we don’t live to serve tech, tech exists to improve our lives. And in doing so, it also provides a way forward – PeopleNotTech, in both name and practice, is a model for what the future should look like.

Without vigilance, this important balance can tip in the wrong direction if we’re not careful – and in many ways, it already has. Luckily, Duena Blomstrom will be there to remind us whenever it does. ❖

‍

Images courtesy of: Duena Blomstrom, Springer, and PeopleNotTech