Authenticity in Fintech Branding: Building Trust with Customers Through Transparency and Genuine Communication.
Financial technology is often a complex and challenging topic to understand for most consumers. With that often comes a lack of clarity or transparency, especially for users, clients, professionals, and individuals who are outside of the industry. In the world of financial reports, interest rates, percentages, financial jargon, and complicated financial spreadsheets, data can be difficult to understand; however, in the interest of building a robust, influential, and trustworthy fintech brand, it is important to be completely transparent to attract the attention of potential clients, and also attract and retain the right employees. While this can be incredibly difficult to achieve, taking control over the way individuals perceive a fintech’s branding and keeping the focus on the positives of one’s fintech brand is essential for the survival and expansion of the brand.
The first action a client would take when considering the purchase or use of a financial technology service is to do their due diligence on the best and most trustworthy fintech brands in the marketplace. Consumers are cautious about who they trust to manage their money and typically do much more research and due diligence into fintech companies than into most other industries. Having the right fintech branding strategy and marketing plan in place to control the perception and image of the brand as something that is positive and authentic is vital for the success of any company, let alone fintechs.
Building Trust, Loyalty, and Transparency
When building up the authenticity of a fintech brand, considered to be one of the most important aspects of a fintech’s branding strategy, it is important to also build trust, loyalty, and transparency within the company’s financial offerings. The majority of fintechs are online-only enterprises, so how are they able to create and build trust and loyalty when there are no physical branches for clients to visit?
Trust is the backbone and the foundation for brand loyalty, especially vital when dealing with personal finances. Any fintech company that wants to succeed and expand its business should consider its mission statement and the values the company was built on, the solutions that they provide to its clients, how those solutions provide financial inclusivity, and the way the brand is perceived through their fintech brand marketing and other content available online.
A positive social presence is crucial for any brand, but especially for young fintech brands looking to stand out and attract clients. One can establish such presence through client testimonials, thought leadership articles and financial blogs that address common financial issues and problems, and through other content streams that illustrate the company’s ability to solve consumer financial problems through the common issues and problems the company addresses. Through such content, a company can provide valuable and useful information that establishes that company as a thought leader rather than only looking to promote itself.
By being a financial brand innovator and thought leader, fintech professionals, financial media outlets, and financial consumers will be attracted to the company, not just for the stellar products and services they provide but also for the information and ideas they bring to the financial technology industry. When a fintech is at the forefront of social media content in a positive way, they are automatically in the fintech spotlight and bring buzz to their brand while also drawing the positive attention of potential new clients.