Fintech is an up-and-coming industry, revolutionizing the engagement in financial services. It deals with creating and implementing new technologies that focus on assisting companies, business owners, entrepreneurs, consumers, investors, and other stakeholders more easily and effectively manage their financial operations, including transactions and other processes. The field specializes in the utilization of software and algorithms to unify the connection of people on a global scale. With new Fintech rolling around the block, people across the world can connect and execute financial transactions with ease and speed, which is already evident in the existent platforms that make that happen. The industry is a titan in the development of globalization, and aids every other industry, as finance is a part of every business, irrelevant of the field.
The main impact that the Fintech industry has primarily lies on the elimination of traditional financial services that usually have a more complicated process, local approach, increased time, and extended administrations. There are two important aspects of Fintech’s effect on the general public, both of which are focused on the online world, and digitalization of business and commerce.
Fintech takes credit card companies out of the equation when it comes to e-commerce and online shopping. Some Fintech companies offer short-term loans meant for purchasing. The process is much faster, and gives the opportunity for individuals with undesirable credit scores to secure a loan and establish the beginning of a credit history.
Similarly, companies have targeted the subsphere that is the mortgage process by providing the same ease, speed, efficiency, and availability for people interested in a mortgage loan. Online loans with short-timed pre-approval letters and zero-interest promo periods give the opportunity for more people across different markets to engage with the industry.
Fintech is a colossal industry. The industry is estimated to be worth $310 billion by the end of 2022. Fintech spans a huge variety of innovative practices and technologies, from cryptocurrency to new banking solutions to the use of AI. New technologies and new companies are entering the market by the day.
Each industry requires a different approach when it comes to PR. In an industry as cutting-edge as fintech, it’s key that your PR firm is just as dynamic, forward thinking and tech-minded. Our team has years of expertise in helping firms announce their new innovations and developments, positioning them at the height of the industry. We also pitch our content to specialized fintech websites and blogs to ensure our clients’ stories reach their ideal audience.
The industry’s focus on finance and business transactions makes it incredibly important to ensure that the processes that go through on a daily basis are safe and secure. Which is why the main challenge of the industry is data security. With the industry being taken to the online space, traditional security guards, CCTVs, and heavily-guarded vaults must now be replaced with cybersecurity techniques that must not only protect people’s money, but their personal information too.
So far solutions have circled around ideas, such as two-factor authentication (where your devices are linked to provide a stronger wall of authentication before you have access to money and data), biometric authentication (fingerprints, facial recognition, etc.), real-time alerts (offering immediate response from you in the event of a cybercrime attempt), data encryption, blockchain technology, and more.
Apart from that pressing issue, Fintech is faced with threats relating to compliance with government regulations (the online space is hard to be bound by geographical location), lack of expertise, AI and big data, blockchain technology, personalized services, etc.
By now we know that financial technology PR doesn't work like traditional PR. With blockchain technology and cryptocurrency flooding the market, the industry is evolving to become even more high-tech. This calls for a dynamic spread of information to keep your public image up next to the new market evolutions.
In this, we guide you to maintain a striking online brand presence. We take on the responsibility to nurture your brand image so that you land a great market position.
With the PR content we create and the market coverage we secure, among respected Fintech news sites and opinion leaders, brand recall and resonance is sure to follow.
The world of Fintech is constantly bringing about new opportunities to pursue. For example, as the language of cryptocurrencies evolve, tech firms have started to simplify the way they communicate with their audiences. The conversations are more casual to get greater audience appeal. A solid PR strategy helps you to remove jargon and sift through the text to get your message across easily, without confusion.
The Fintech industry will only get more competitive as new challengers emerge and industry regulations tighten. Luckily, an effective PR strategy ensures that you are implementing the right communication methods to overcome various market and media challenges and face crisis head-on.
An incredibly expansive industry, fintech covers an array of technology and advancements. It’s key that fintech PR campaigns explain new industry developments without being overly complicated for the average consumer. Whether you’re looking to share your new technology, or position your business as an industry thought leader, it’s vital that your PR campaign is reflective of your business’ unique tone, whilst maintaining clarity and not sounding too complex.
Today’s new news is tomorrow’s old news. People are continuously becoming more tech-savvy as the digital market evolves, speeding up how quickly the media moves to feed the market with the latest news updates.
For Fintech PR, communications will have to be so fluid that it can instantly be adapted for emerging markets, appeal to the latest customer interests and keep your brand's relevancy up-to-date.
With disruptive technologies entering and altering the Fintech market, we as PR specialists have stepped up the game in planning, executing and monitoring your digital communications, making sure that no opportunity for publicity is missed.
