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Shaping FinTech Growth Through PR Strategies

by M&Co. Staff

As we delve into the top five segments within the global fintech industry projected for exponential growth in 2024, it’s evident that public relations (PR) play a crucial role in shaping perceptions, building trust, and asserting leadership.

  1. Embedded Finance

Embedded finance will be the beacon of rapid growth in 2024, with non-financial platforms embracing and seamlessly integrating financial services. This integration has garnered significant media attention, underscoring the potential for new revenue streams and heightened customer loyalty. Among the key players in this vertical are Stripe, Square, PayPal, Adyen, and Plaid. Their customers typically range from small businesses to large enterprises seeking streamlined financial solutions. Geographically, markets like the United States, Europe, and parts of Asia have seen a significant boom in embedded finance offerings.

Media coverage in embedded finance often focuses on success stories and the convenience embedded finance brings, but it also focuses on security concerns. Recent headlines have highlighted partnerships between tech giants and financial institutions to enhance embedded finance offerings. Overall, the impression conveyed is one of optimism and innovation.

Embedded finance stories typically fall under the technology and finance beats. Top-tier media outlets cover this vertical extensively, highlighting its importance in shaping the future of financial services.

Given the substantial media coverage and positive narrative surrounding embedded finance, it presents a favorable landscape for PR efforts. Fintech companies should capitalize on this by showcasing successful implementations, addressing security concerns proactively, and emphasizing collaborative leadership.

  1. Digital Assets

The realm of digital assets will continue to experience exponential growth and innovation. Companies venturing into this domain must navigate media narratives often centered around regulatory challenges and market volatility. Notable companies include Coinbase, Binance, Kraken, Gemini, and Bitfinex, serving a diverse clientele ranging from individual investors to institutional traders.

Media coverage of digital assets emphasizes the need for education on their advantages, transparency, security, and democratization of access to financial markets. Recent headlines have focused on regulatory developments and the growing acceptance of digital assets by mainstream financial institutions. Overall, the impression conveyed is one of cautious optimism tempered by regulatory uncertainties.

Digital assets stories span across finance, technology, and regulatory beats. Both top-tier and trade media cover this vertical extensively due to its rapidly evolving nature.

PR efforts in the digital assets space should include educational initiatives such as webinars and events to dispel misconceptions, collaborate with media partners to foster better understanding, and advocate for regulatory clarity.

  1. AI-powered Advisory and Asset Management

The surge in demand for AI-powered advisory and asset management presents both opportunities and challenges for fintech companies. Despite slow adoption, media coverage underscores the potential for smarter financial solutions. Notable players include Wealthfront, Betterment, Personal Capital, Robinhood, and Vanguard, catering to individuals and institutions seeking automated investment advice and portfolio management.

Media narratives often revolve around demystifying AI, success stories, and the future of AI in finance. Recent headlines have focused on advancements in AI technology and its application in financial services. Overall, the impression conveyed is one of cautious optimism regarding the transformative potential of AI in wealth management.

Stories on AI-powered advisory and asset management are covered in finance, technology, and innovation beats. While top-tier media cover major developments, trade media delve deeper into industry-specific trends.

PR strategies should focus on showcasing expertise in AI, participating in industry conferences, and contributing to discussions on the future of AI in finance to enhance credibility and thought leadership. However, it’s important to be prepared to navigate the tough questions as well.

  1. Generative AI in Fintech

Generative AI stands at the forefront of revolutionizing financial counsel and portfolio administration. Recent discussions and events like the SBI Fintech Conclave highlight its global potential. Fintech companies should leverage PR to position themselves as pioneers in exploring and experimenting with generative AI, given that its use in this space is still novel. Notable players in this space include Alpaca, Kavout, Pefin, AlphaSense, and Kensho.

Establishing thought leadership through op-eds, interviews, and collaboration with AI researchers can enhance a fintech’s credibility and showcase its commitment to innovation.

  1. Blockchain

Blockchain’s continued adoption in 2024 will open new doors for fintech players. Media coverage of blockchain often emphasizes its potential to positively disrupt traditional financial processes. Notable companies in this space include Ripple, Chainalysis, Blockstream, ConsenSys, and Ledger. They work across various sectors, including banking, supply chain, and healthcare, aiming to harness blockchain’s transformative power.

Media narratives typically focus on blockchain’s benefits, such as trust, transparency, and efficiency. Recent headlines highlight successful use cases and collaborations between fintech companies and blockchain experts. Overall, the impression conveyed is one of optimism regarding blockchain’s potential to revolutionize diverse industries.

Blockchain integration stories cut across finance, technology, and innovation media beats. Both top-tier and trade media cover this vertical extensively due to its disruptive nature and widespread implications.

Fintech companies can enhance their PR strategy by actively participating in discussions around blockchain standards, collaborating with industry experts, and showcasing successful use cases to gain credibility and thought leadership in this space, as well as discussing what the future of blockchain holds.

As fintechs continue to shape the future, public relations emerge as a vital tool for building trust, managing perceptions, and positioning fintechs as responsible innovators. Fintechs must invest in thoughtful and strategic Fintech PR initiatives to navigate the complex landscape of trends, ensuring they stay connected with their audience and stakeholders.