Here’s the next installment in our periodic Q&A series highlighting women leaders in the fintech and banking space. We feature the innovation, fortitude and experience it takes to thrive in this fast-changing industry. And our interviews explore business opportunities on the horizon for financial services providers and their technology partners, as well as the unique qualities that these leaders bring to their roles.
Alexandra (Alex) McLeod is CEO of Parlay Finance, which serves small-business lending needs through a suite of AI-powered applications that, when linked to community banks and credit unions, aim to help these institutions increase small business loan volume, efficiency and profitability, starting at the earliest stages of the applicant funnel.
Using a combination of external, internal and proprietary data, Parlay’s proprietary workflows and advanced machine learning models reduce manual data gathering and improve time-to-decision, an efficiency sought by both lenders and small businesses.
Alex has over 10 years of experience in technology design, venture-backed startups, consulting, mentorship and social impact. Her firm’s technology solutions have, in part, helped lenders secure more small-business approval for Small Business Administration (SBA) applications and small-dollar loans. She is passionate about inclusive access to capital and helping address the needs of underrepresented communities.
Was there a motivation, market shortcoming or challenge in financial services that drove you toward your fintech solution or role?
Parlay was born from direct experience supporting underserved entrepreneurs, particularly Afghan women resettling in the U.S. in 2021. During that work, we encountered the challenges of accessing capital faced by small business owners, especially those from underserved communities. As my co-founders and I explored this problem, we realized that we could unlock tremendous market value by addressing the burden of complex manual workflows in the small business lending processes. No existing solution was available to tackle both sides of this issue. That included improving operational efficiency for lenders, while also expanding access to capital for small business owners.
How did you go about convincing others and delivering that solution early on?
Rather than building in a vacuum, we partnered with mission-oriented lenders and small business owners from day one. We conducted hundreds of hours of interviews with small business owners, particularly immigrants, women and rural founders, as well as community lenders, to understand their pain points. Their input shaped the DNA of Parlay, from our easy loan application and readiness insights to our intake, verification and qualification tools that streamline workflows for lenders.
This focus on deep customer understanding has enabled us to empower small business owners from communities across the country, allowing Parlay to partner with mission-driven community banks, credit unions and Community Development Financial Institutions (CDFIs). That trust and collaboration remain core to how we operate today, even as our platform has evolved and expanded.
How do you think others describe your leadership style? Or if it’s more important to you, how do you describe yourself?
Those who have worked closely with me would probably describe my leadership style as mission-driven and results-oriented. I strive to strike a balance between leading with empathy and challenging assumptions, enabling us to achieve better outcomes for the communities we serve.
Personally, I would describe myself as a builder, not just of products, but of relationships, systems and teams. My background in design thinking has profoundly shaped how I lead: I believe the best solutions emerge from centering on the end user, being relentlessly curious and never settling for surface-level fixes. That means I don’t see leadership as having all the answers, but rather creating the conditions for smart, committed people to solve meaningful problems together.
Whether I’m mentoring emerging entrepreneurs or working with our engineers to refine a new feature, I strive to bring the same values to the table: clarity, humility and a deep sense of responsibility to get it right, especially for those who have historically been left out of the conversation.
What can the financial services industry do to make sure we are shaping future leaders, women especially, for our space?
If we want to shape the next generation of leaders in financial services, especially women, we need to shift from token inclusion to meaningful investment. That starts with rethinking how we build pipelines into leadership, how we define success, and who we choose to bet on early.
First, we need to widen the lens on what leadership looks like. That means valuing lived experience alongside traditional credentials and being intentional about supporting women who may not come from conventional finance backgrounds but bring deep insight into underserved markets.
Second, mentorship needs to evolve into sponsorship. Women need people who will not only advise them but also advocate for them, open doors and back them with resources. We need to ask: Who’s being invited into the rooms where strategy and capital decisions are made? And finally, financial services need to invest more in inclusive innovation. This includes funding women-led startups, supporting research from diverse founders, and integrating diverse perspectives into our product design and impact measurement. If we want a more representative future, we must fund and build it now.
The financial services space is challenged with economic, trade, legal and higher education uncertainty, alongside a shifting regulatory framework. What feels optimistic or where do you find clarity? Perhaps your operational risk management strategies are designed just for times like these? Perhaps you sense opportunity for digital solutions?
Uncertainty is real, but so is momentum. Especially when it comes to community finance and fintech built to solve hard problems. What gives me optimism right now is that the demand for better lending systems isn’t slowing down, it’s accelerating. We’re seeing more lenders recognize that legacy tools and manual processes just aren’t sustainable, especially when margins are tight and community impact is on the line. We’ve designed our platform specifically for moments like this. When the environment is uncertain, operational efficiency and clarity in decision-making become non-negotiable … reducing staff burden and making faster, more confident lending decisions, all of which are critical during times of economic or regulatory flux.
More broadly, we’re seeing a shift toward partnership over disruption. Community lenders are looking for tech that respects their mission, integrates with their workflows and helps them serve borrowers more effectively. That’s where we live. And in times like these, it’s the organizations that stay close to their customers, build trust and make grounded, data-informed decisions that will lead with strength.
Read more from the series:
Data-first strategies strengthen relationship banking and help smaller banks compete
Why creativity is a banking-talent attribute
