{"id":96522,"date":"2017-08-29T14:00:31","date_gmt":"2017-08-29T08:30:31","guid":{"rendered":"https:\/\/www.digitalvidya.com\/blog\/?p=96522"},"modified":"2019-02-01T12:06:21","modified_gmt":"2019-02-01T06:36:21","slug":"guidelines-digital-marketers-use-at-fintech","status":"publish","type":"post","link":"https:\/\/www.digitalvidya.com\/blog\/guidelines-digital-marketers-use-at-fintech\/","title":{"rendered":"8 Important Guidelines Digital Marketers Use At FinTech Companies"},"content":{"rendered":"

<\/span>Introduction<\/span><\/h2>\n

While digitally marketing FinTech brands, it is important you maintain few important guidelines to ensure stability and growth for your company. Especially during a time when FinTech is booming but Banks are still taking time to catch on.<\/p>\n

As Wealthfront CEO Andy Rachleff said at in an interview with Fortune Live<\/p>\n

\u201cIt is business models that disrupt companies not technology\u201d<\/p><\/blockquote>\n

\"FinTech
Fintech infographic by the world retail banking report 2016<\/figcaption><\/figure>\n

In India, Digital transactions are skyrocketing ever since demonetization. The government promoting cashless transactions through UPI \u2013Unified Payment Interface (A system for instant fund transfer between bank accounts on mobile)<\/p>\n

\"Data
Data by rbi on digital transactions in india<\/figcaption><\/figure>\n

<\/span>Guidelines<\/span><\/h2>\n

<\/span>1) Security<\/span><\/h3>\n

With every Ying, there is a Yang. So when there is an increase in digital transactions in apps and websites, there is an expected increase in cyber crime as well.<\/p>\n

As Pavan Duggal, president at Cyberlaws.Net and an advocate in the Supreme Court, said<\/p>\n

\u2018After demonetisation, cyber crime has grown manifoldly and we have not been able to identify the extent to which it has grown.\u201d<\/em><\/p><\/blockquote>\n

While digitally marketing FinTech brands , you can always expect a lack of trust in the audience mind before making a purchase. It is important to make them feel secure during this stage.A simple error or delay can cause a potential customer to completely rethink their purchasing decision.<\/p>\n

If an infiltration happens even once and someone looses their money, it could mean the end of your company.<\/p>\n

Below are few examples of what other FinTech companies are showcasing on their websites, to inspire confidence with their customers.<\/p>\n

\"CreditKarma
Www. Creditkarma. Com\/<\/figcaption><\/figure>\n
\"Biocatch
Www. Biocatch. Com\/<\/figcaption><\/figure>\n

You can take this one step further by have your leadership invest in new security technologies and display them on your homepage itself. Include these new technologies in your strategy while marketing FinTech solutions.<\/p>\n

A common trend you would notice, is that all these websites focus on their security in the homepage itself. Not hidden in another section or only shown at the final transaction stage.<\/p>\n

Marketing the confidence in your companies ability to handle secure transactions, builds immense trust.<\/p>\n

Trusting their transactions with you, is the first impression that your company needs ace at, and this requires you to display it the best informative way possible.<\/p>\n

\"creditkarma.com
Creditkarma. Com homepage snippet<\/figcaption><\/figure>\n

<\/span>2) Offer Something Unique to B2B clients<\/b><\/span><\/h3>\n

Pro – Companies are now at a scare to quickly keep up with global trends for digitizing themselves<\/p>\n

A recent report published by livemint.com showcased that retail banking may loose nearly 55% of business to FinTech start-ups.<\/p>\n

\"Digital
Digital maturity in india,scope of fintech<\/figcaption><\/figure>\n

Con \u2013 A simple question, why do they need to invest in you?<\/strong><\/p>\n

Remember, don\u2019t just follow the basic checklist every FinTech company needs to follow\u00a0 and stay put.<\/p>\n

A large bank or company has more than enough capital, to invest in a secure digital transnational system themselves.<\/p>\n

It doesn\u2019t necessarily mean offering a new technology, but improving an existing process in a smoother and faster way can sometimes be all you need.<\/p>\n

Make that message loud and clear.<\/p>\n

<\/span>3) Easier can be better than New<\/b><\/span><\/h3>\n

Further Elaborating, New technologies are good but they require time to build trust in the eyes of the public. Instead focus on improving existing financial systems\/process to run faster or more efficiently.<\/p>\n

Below are few examples of rising FinTech brands<\/p>\n

– Lendr<\/a> uses artificial intelligence to act as a reverse auction platform for mortgages. It replaces the lengthy and expensive process for borrowers and lenders, providing advice, digital identity and information services to streamline onboarding and a way for applicants to receive the best offer.<\/p>\n

\"Lendr
Lendr<\/figcaption><\/figure>\n

– Co-founder of Capitalise<\/a> Paul Surtees has built technology that enables SMEs(small\/medium-sized enteprises) and their advisors to find, compare and select the best lenders available to them – allowing them to access the funding available.<\/p>\n

The platform matches SMEs with lenders, who are ranked based on their past successes. Surtees told the startup stage that \u201cSMEs will typically limit their access to finance, they\u2019ll leave only seven days to get the funds they need, spend less than one hour researching,and they\u2019ll apply to one lender.\u201d<\/p>\n

\"Capitalise
Capitalise<\/figcaption><\/figure>\n

<\/a>– Another common issue financial institutions face , is cross country transactions. Setting up institutions to bank across borders can be expensive. To respond to this Transferwise<\/a> was created.<\/p>\n

A system where borderless accounts can be created and not constrained by countries or currencies, thereby giving business more freedom and control in their respective markets.<\/p>\n

With the borderless account, users in the UK and Europe can keep money in 15 different currencies and have local account numbers for the UK, Europe and the US.<\/p>\n

\"Transferwise\"TransferWise, One of London’s Largest FinTech Startup<\/p>\n

<\/span>4) Chatbots\u00a0 – Required Automation While Marketing FinTech
\n<\/b><\/span><\/h3>\n

You have seen them present in a majority of sites that contain transactional property. They are already being used for client on-boarding, internal\/external money transfers, bill payment, payee addition\/modification, P2P and recurring payment setup, data and alerts and real-time financial market data etc.<\/p>\n

Setting up and monitoring automated chatbot interactions on your homepage, is now becoming an integral component of handling potential new customers.<\/p>\n

K2 Bank, for example, is an independent bot that provides advanced banking features through its own conversational platform. This means that you don\u2019t have to wait for your bank to catch up and create a chatbot<\/a>.<\/p>\n