Ambidextr Media

As fintech companies emerged in the 21st century, it has become a significant influence in the business industry as financial services become in demand and users of financial technology increase. Fintech companies advance in financial education, investment, cryptocurrencies, and retail banking, acquiring users of business to business (B2B) for banks and bank clients, and business to clients (B2C) for small businesses and consumers.

Financial technology is multipurpose as they become a helping hand to users that are in need of financial management aid, offering various financial services and budgeting tools for personal and business uses. 

Despite the massive growth of fintech companies since the rise of the internet, financial technology cannot progress on its own by having it established for the public to see. Public relations play an important part in the development of fintech companies.

Understanding PR and its significance 

Most people assume that public relations only comprises media relations but there are various other factors under this such as digital and new media, internal communication, event planning, community relations, crisis communication, and reputation management. 

PR does not just advertise the brand through sending out a message about the company and what it is promoting but attracts and convinces future clients through strategic plans and deliberate decision making. 

Because of its 2-way communication process that consists of focusing on key customers and contributing to their brand experience and better perception, companies get to hear feedback from the public and incorporate it in the improvement of their brand, which causes a positive outcome for the company.

How can PR help fintech companies?

One factor known when it comes to public relations is that they center on the persuasion of the public. When fintech companies engage in PR, the message of their brand is channeled to the public, showcasing about the quality attributes of the brand and persuading them about their interest towards the services they are promoting.

Their process of communication is an essential aspect in persuading potential clients. Since it is a 2-way street, it helps them build high quality relationships with institutions, companies, and corporations that align with their plans and interests. With this approach, fintech companies get to form an alliance with other communities that are leaning towards the implication of financial technology in their brands. 

PR is relational. For a fintech company to be able to reach out to its audience and possible customers, they must lay out the value of their services for the public to be informed, aware, and convinced as to why they should avail the services offered by fintech and what it has for their businesses. Public relations serves as a bridge for fintech companies to connect and become bonded with various organizations, building substantial relationships and a strong standing in the business industry.

Fintech companies are eminently needs of an individual, whether it is for personal or business purposes. As we live in a modern world heavily reliant on technology, financial technology is an advantage to a better management of finances and a step to the business world. 

However, it cannot prosper on its own for with public relations, fintech companies have the opportunity to be known and to develop into the faces of businesses, as well as become a reliable affinity for future brand partners.

Blog by Althea Jaira Forteza