Fintech continues its march forwards. There are lots of great success stories; fuelled by innovation, growth and a very real market need. Just consider the recent Sunday Times’ Tech Track 100 which follows Britain’s fastest-growing, privately owned tech companies. If you look beyond the obvious big hitters – Revolut (1), Checkout.com (55), TransferWise (64) and our client GoCardless (61) – you can see the strength and momentum that exists within UK Fintech. Lendable is showing annual sales growth of 180% and is still innovating. It recently launched its first credit card, while car finance is expected to follow. While other top 100 companies – OakNorth, Lending Works, Global-e and gohenry – appear stronger than ever.
Despite the challenges presented by the pandemic, fintechs have played a critical role in keeping the economy (and our everyday lives) moving. Whether that is helping companies access funding or people to access digital banking, that optimism is clear to see. But the future is never certain. There will be more challenges ahead. Just ask Monzo and Klarna who are facing criticism for mounting losses.
For PR, that can be a real challenge. While Fintech brands may have an opportunity to take centre-stage, they need to continue to invest in and build communications. I don’t mean spend more money, but rather think clearly and do the basics really well.
I have been asked: “How do you plan for comms when everything is so unpredictable?” My answer is to focus on the things that you know are true. Understand the world around you and continue to build your narrative. While constantly identifying opportunities (or threats), and not being afraid to react quickly to any changing situation. Good or bad.
That question is the reason we created a planning handbook; to help all fast-growth and scale-up Fintech businesses navigate those changes. Not only that, it helps these brands to look past the noise and focus on the stories they need to tell.
The Fintech PR Playbook lays out five big macro trends shaping the world; five big media topics driving the debate; as well as five key and influential journalists shaping opinions. We’ve identified some of the major forces shaping the industry and, in turn, influencing comms. You can download the Playbook here.
Our hope is that its assurance cuts through some of the uncertainty out there. We’d love to hear what you think; how you’ve used it; and if it was useful. Please get in touch.
Tim Lines, Director, Nelson Bostock UNLIMITED