The future of finance is rapidly evolving, and nowhere is this more evident than in the world of FinTech. In this blog post, we examine FinTech public relations.
What is FinTech?
FinTech, a blending of "financial technology", refers to integrating technology into offerings by financial services companies to improve their use and delivery to consumers.
This term applies to any emerging technology that seeks to improve and automate the delivery and use of financial services.
More Than Payments
FinTech is more than digital wallets, payments, and blockchain. It's a broad spectrum that spans across many categories, including personal finance, insurance (Insurtech), wealth management (Wealthtech), and even crowdfunding platforms.
In recent years, FinTech has gained tremendous popularity.
The reason behind this surge is its ability to simplify financial transactions for consumers or businesses, making them more accessible, faster, easier to use, more secure and more convenient.
The Value Of FinTech
The FinTech venture capital investment juggernaut sees no signs of stopping; although the ride has been bumpy of late.
KPMG said investment in FinTech reached a record high of US$210 billion across 5,684 deals in 2021 before, according to S&P Global, nosediving in the first half of 2023 to US$23 billion.
Despite this, a report by Boston Consulting Group and QED Investors projects that financial technology revenues are expected to grow to US$1.5 trillion by 2030.
These figures show both the volatility and potential of the FinTech industry, making it an exciting and challenging space for investors, startups, and established players alike.
The Importance of PR in the FinTech Industry
As the FinTech industry continues to grow, so does the competition. This is where FinTech public relations (PR) comes into play.
FinTech PR is a crucial component in a FinTech company's marketing mix, because public relations has a greater impact on consumer behaviour because it is perceived as being credible.
In a world where trust is paramount, this credibility can significantly influence a company's growth and success.
Trust, Reputation, Leadership
While traditional public relations strategies focus on building and maintaining a positive reputation through media relations and events, PR in the FinTech space requires a greater emphasis on online reputation management, crisis communication, and thought leadership.
Online reputation management is crucial because most transactions and interactions take place online. A single negative review or news article can significantly damage a company's reputation.
Crisis communication is another critical aspect and must be managed effectively and transparently to maintain consumer trust.
Last, thought leadership is an effective way for FinTech companies to stand out from the competition, become established as voices of authority, and build consumer confidence.
In conclusion, PR is a powerful tool that FinTech companies should not overlook. It plays a vital role in building trust, managing reputation, and differentiating your brand from the competition.
Don't get lost in the crowd - leverage the power of PR to drive growth and success!
Why Choose Eight PR?
As a public relations company and based in Hong Kong, Eight PR understands the importance of staying at the forefront of this dynamic industry. That's why we were proud to be a sponsor at the annual FinTech Week HK in both 2021 and 2022.
Eight PR brings to the table maturity, native English and Chinese PR Professionals with senior-level expertise, skills and experience, local and international media relations, business growth services including B2B introductions, events, and more.
We work closely with our clients to develop tailored PR strategies that align with their business goals.
Ready to take your FinTech company to the next level with PR? Contact Eight PR today at Email: Hello@eightpr.com
About Eight PR (www.eightpr.com)
Eight PR is a PR agency in Hong Kong specialising in technology, financial services, and legal sectors. Whether you need PR, media relations, content writing or business growth support in Hong Kong or APAC PR, we've got you covered.
Past and present technology clients: Barracuda Networks, Callsign, FUJIFILM Business Innovation, Hong Kong Broadband, Kroll Cyber, Lumen Technology, Palo Alto Networks.
Services include media relations, content development, corporate reputation management, thought leadership programmes, digital marketing, social media marketing and communications.
Our goal is simple: to empower your business with all things PR and help you succeed.