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Five Reasons to Believe in UK fintech

In January, the growth of UK fintech looked unstoppable. 2019 saw huge levels of investment. We were set for another record-breaking year in 2020. That was until Covid-19 threw the world into disarray. So what does Covid-19 mean for UK fintech in the long term? Is it fatal? A bump in the road? Can the sectors’ strengths see it through?

We see plenty of reasons for optimism. While fintech has taken a few hits, it’ll take more than Covid-19 to damage the UK’s lead. Here are five ways in which fintech will bounce back.

UK Fintech made a strong start to the year. Confidence remains high

Early progress at the beginning of 2020 put UK fintechs in a strong position. In the first half of 2020, UK tech businesses raised more than $5bn in investment (Tech Nation and Dealroom). That’s more than the rest of Europe combined. London’s fintech firms alone took $4bn.

The argument is even stronger when you consider the pandemic struck the UK around halfway through this time. Before widespread lockdowns the first quarter was impressive. Beauhurst reported 112 deals totalling £1.1b. We saw businesses at all stages of maturity raise funds. From small, early-stage deals, to big-money deals like Revolut (£383m), iwoca (£85.6m) and Starling Bank (£40m).

Thanks to some eye-watering investment rounds and valuations, such as payments start-up Checkout tripling its valuation during the lockdown, the media narrative has been overwhelmingly positive. UK fintech is seen by many as a source of strength and national pride. This industry is buoyant and expectant. Amongst key commentators and the industry itself, we can see that confidence remains unchecked. That is very exciting.

Fintech weathered the storm

Unlike retail and travel, which were hit hard and are slowly recovering, most fintechs continued to operate during the chaos. In fact, many have become even more essential. For example, digital payments and online shopping have soared during the pandemic.

Research from Beauhurst also supports this observation. Only 1% of fintechs have been critically affected by Covid-19 and 2% severely affected. In the wider ecosystem of high-growth companies, 17% of businesses fall into these categories.

At the same time, jobs in fintech are also less at risk than other industries.

There are a few reasons behind these stats. Most fintechs are agile, digital and creative. This adaptability makes them more able to handle black swan events like Covid-19. Another consideration is that some of the hardest-hit industries are consumer-facing. Many b2b fintechs provide back-end or infrastructural services. This means they haven’t been impacted as badly.

So even during the crisis, fintechs continued to operate. When other industries have fallen down. That simple fact is critical.

Covid-19 has also seen accelerated adoption

Covid-19 has expedited the need for businesses to adopt digital services. Tim Levene, CEO of Augmentum Fintech, has perhaps put this best in Altfi: “The macro story has been the acceleration in digital adoption, and behaviours that would have taken two to three years to change, have changed in the last two to three months.”

The pandemic has shone a light on fintechs’ ability to bring operational efficiency and support customer acquisition using digital methods. These are key aspects to driving greater uptake of their services. Covid-19 has accelerated this pre-existing transformation trend. This is especially true for traditional financial institutions. They have been clutching on to legacy systems for some time. What happens if you pour petrol on a fire? We’re about to find out.

And for some, demand has grown

The net impact of Covid-19 on UK industries has been negative. However, some fintechs, whose services help solve problems raised by the crisis, are experiencing a significant uptick in revenues. Few businesses can hope for the extreme windfall that Zoom has enjoyed in the wake of Covid-19. To underline this, Zoom’s $328m revenue in February-April was more than double what it took in from the same time in 2019. Klarna, for example, has seen a 20% increase in new UK merchants in April. Meanwhile, Checkout hit a 5.5bn valuation this June.

You can see success in specific sectors:

  • Lending platforms for small businesses, such as Funding Circle and Tide, have experienced a massive growth in new loan applications. This is due to the new, less certain economic climate
  • Payments companies and platforms, such as Checkout and Apple Pay, have seen surges in demand. These have been largely driven by the massive increase in SaaS use and contactless payments. Alongside companies taking their business online
  • Insurtechs, such as Lemonade or Floodflash, which provide transparent and immediate payouts, are garnering increasing levels of trust and experiencing higher demand. This is due to various consequences of the pandemic. For example, job losses, business defaults and catastrophe-related impact
  • Enablers of Digital transformation, such as Nucoro and Thought Machine, that support financial firms’ digital transformation initiatives will be crucial to equip these businesses for the new wave of digitisation precipitated by the current climate
Culture breeds success

Culture has become a key strength for UK fintech. Born into the digital age, many leaders built their companies with culture front-of-mind. Sifted’s survey of Glassdoor reviews found the majority of the best-known fintechs sit above the global average Glassdoor rating.

Driven by competition for talent in a crowded and fast-growing space, culture has been a battleground. One in which fintechs consistently outperform traditional banks and financial services organisations. The result has been the emergence of more dynamic and supportive working environments. These are places in which values align to customer wellbeing. This culture makes it more likely to withstand, pivot and thrive in a global crisis.

So there you have it. Covid-19 has shaken almost every industry. But here are still reasons to believe in UK fintech. Now is the perfect time for fintechs to show their strength, resilience and willingness to support others. External communications can bring long-term benefits to relationships and reputations. It can also help the sector sustain its success.

Written by Tim Lines, Director at Nelson Bostock Unlimited

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UK fintech must continue to build trust to take centre stage

This year will go down in history. After three months of lockdown, the world we re-enter will be very different from the world we left behind. There are a lot of lessons we can learn from the experience. Not just about handwashing, but also about how to handle a crisis. We’re aware (if we didn’t know before) that communication – from the government, from health bodies, from the businesses we rely upon – becomes critical in a crisis. It is how trust is built and maintained. No business has been untouched by Covid-19. But some sectors – like fintech – have responded brilliantly during this pandemic. While it is easy to get carried away, that ascent is certainly not guaranteed. UK fintech must continue to build trust if it is going to maintain that momentum.

From crisis to recovery

It is tempting, during turbulent times, to close down comms until the storm passes. But, as demonstrated by the last few months, the organisations that came out well from Coronavirus are those that pitched-in, supported people, and continued to communicate.

My view is that trust is the most important factor at play. While supermarkets and the NHS understandably receive the most praise amongst consumers, Telecommunications and Banks / Financial organisations who have supported people and businesses follow closely behind. Fintech organisations played a role in that success. Whether you are a consumer wanting to check your account or make a payment, or a business in need of a loan, fintech players have stepped up.

There are some great examples of both trust-building and great comms from the fintech world. Facing their financial difficulties internally, the then CEO of Monzo Tom Blomfield waved his annual salary for 2020. Meanwhile, Oaknorth has shown its support for small businesses, lending earlier than other neobanks and approving more than £60 million in new loans to UK businesses, in addition to £36 million of its initial £50 million allocation through the Coronavirus Business Interruption Loan Scheme (CBILS).

They helped a creaking world keep turning and have, as a result, earned significant levels of confidence. For fintech firms, it is crucial to continue this trend and maintain their image as a force for good. Successful comms isn’t just about telling proactive stories of course; it’s also how you handle yourself under pressure. Tide recently received a, well…a tide, of complaints from anxious customers waiting on Bounce Back Loans. However, by being honest, empathetic and fast to respond, Tide was able to manage the story effectively.

Adapting to an agile world

As the world changes from week-to-week, brands need to adapt to the outside world. So much has been made of dramatic and exciting pivots by businesses (i.e. GIN COMPANY MAKES HANDWASH AND SAVES THE WORLD!). But if you look beyond the headlines, you’ll see that business strength comes from being able to respond quickly.

That is just as true for comms. The media landscape has shifted massively in recent months. Many nationals have made significant staff furloughs, pushed back editorial meetings to allow for childcare, and placed a greater focus on online news. In the fintech trades, editorial teams are short on numbers and working flat out. You are going to have to adjust your stories and tactics. What would’ve worked six months ago won’t work today. You need to watch and listen and adapt. And, where possible, comms should help to shape business strategy.

Build your brand

The UK went into 2020 as the world leader in fintech. More innovation. Greater investment. A higher amount of talent. Then the pandemic hit and everything stalled. In a destabilised world, customers want financial brands that they can trust. Building trust isn’t just about doing good things; you need to communicate them. To trust a brand, your customers have to hear your voice, and that voice has to be authentic, honest and transparent.

Fintech brands have an opportunity to take centre-stage and lead the UK’s recovery. But to do that they need effective, agile and bold comms that can establish a brand voice which customers, partners and investors can trust. Do it well and the trust that you build in a crisis can carry a brand’s reputation for years to come.

Written by Tim Lines, Director at Nelson Bostock Unlimited

 

 

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You must understand what’s shaping UK Fintech if you’re going to plan PR effectively

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

 

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Crises change investment habits and create opportunity for Wealthtechs

Last week, we launched a Fintech PR Playbook, looking at the key trends, topics and media that are shaping UK Fintech, to help businesses plan their strategies for the next six months and beyond. We are passionate about the sector – which is showing great promise to bounce out of the pandemic – but we recognise that fintech isn’t one industry. Rather, it’s an umbrella term used to showcase the best of financial services firms that utilise technology to provide adaptable and best-in-class services. The Wealthtech sector is a perfect example of an industry that is successfully leveraging technology to shake-up traditional investment services models.

As outlined in our Playbook, getting on the investment ladder is becoming progressively easy for the everyday consumer. As interest rates remain at a record-low, leaving limited options for us to grow our capital via traditional means such as savings accounts and ISAs, Wealthtechs, such as Wealthify and Moneybox, have capitalised on the opportunity to give everyday consumers more options. More options – catered for everyone regardless of financial acumen or status – brings with it more investors. And more investors, of all generations, brings greater diversity of values and demands.

For example, not only are we living through a health crisis right now, but we’re also living through other crises. Just think about systemic racism and climate change. Younger generations have been at the forefront of protests and movements to try and drive change. And this is reflected in investment behaviours too – with Environmental, Social and Governance (ESG) becoming ‘officially mainstream’. As regulatory discussions around benchmarks continue, ESG scoring will become much more standardised. But on an individual level, what’s considered socially responsible to one person, might be different to another. For example, the once cherished vegan milk brand, Oatly, is now facing boycotts over selling a stake of its business to Blackstone, a private equity firm headed by a Trump donor that is allegedly contributing to deforestation in the Amazon.

The need for hyper-personalised investments is greater than ever before. And technology plays a key role in making this a reality, with solutions that utilise data and machine learning to invest or divest based on personal values or preference. Wealthtechs, then, whose business models are often built without the constraints of legacy systems, have a great opportunity to flex and adapt according to the individual demands of this new wave of investors.

In terms of media, there has been a lot of scepticism about ESG due to the lack of standardised benchmarks, as well as the lack of transparency – for example, with companies criticised for ‘greenwashing’ or ‘wokewashing’. But many publications now have dedicated ESG sections, which demonstrates that the topic is here to stay.

There is still a great opportunity for Wealthtechs to communicate that they understand the changing demands of all investor demographics on an individual level, as well as how they are leveraging technology to meet these demands. It’s also a good opportunity for Wealthtechs to communicate their own ESG credentials – for example, showcasing corporate diversity by leveraging diverse spokespeople from a variety of backgrounds, as well as providing any stats or proof points that highlight their efforts to do business in a sustainable way. We can expect the media to continue reporting on topics such as hyper-personalisation and ESG, for the remainder of this year and beyond.

Wealthtech funding more than doubled in Q2 2020 – so clearly there is a lot of room for growth and maturation in this sector. I’m excited to see how Wealthtechs will continue to flex their services, to ensure investments reflect the growing demand for diverse values and positive contributions to society.

Sofia Romano, Account Manager, Nelson Bostock – an UNLIMITED agency

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What the BoE interest rate decision means for the future of savings

Today, the Bank of England (BoE) announced its latest decision to hold interest rates at 0.1%. While this move is not a shock, it leaves little hope for the consumers wanting to grow their capital. So what does this decision mean for the future of savings? As it turns out, our newly launched Fintech PR Playbook has some answers.

As we highlighted, the UK is living through a long stretch of record-low interest rates, which has put a big strain on an already struggling savings culture. In addition to this, a perfect storm of social, political and economic factors including the rise of consumerism, the widening availability of credit, as well as the loss of trust in banks and other financial institutions, has transitioned the UK from a nation of savers to one of debtors. 

One positive outcome of COVID-19 is the potential reversal of this trend once again, according to Natwest, with more consumers holding on to their cash for fear of economic uncertainty. However, with interest rates sitting at an eye-watering 0.1%, consumer attitudes towards saving for personal, financial gains are still discouraging. And this is expected to continue throughout this year and potentially beyond. 

The global economy will almost certainly take a severe hit from COVID-19. According to a new report from Unlimited Group, Winter is Coming, we’ll see an estimated 6% contraction in 2020. There have been considerable debates concerning the speed of the world’s economic rebound, with the more optimistic thinkers looking towards the end of 2020. However, the more pessimistically-minded are predicting global recovery to occur as late as the end of 2023. This could mean that low – and potentially negative – UK interest rates are here to stay.

The good news is that economic dips often bring with them great opportunities. In fact, the first wave of Fintech was born out of the 2008 financial crash, which proves the sector’s ability to adapt and thrive during a downturn. In our current crisis, Fintechs have a clear opportunity to disrupt savings with innovation.

In recent years, we’ve seen a lot more players flooding the marketplace, often offering better interest rates than those offered by banks. For example, Marcus by Goldman Sachs has provided consistently competitive rates for savers, while start-up Zeux announced its offer of 5% interest rates at the start of the year. But besides better rates, Fintechs have made it their mission to get the nation saving again – with the likes of Monzo encouraging customers to Save at Home by moving extra funds saved into a new savings pot. 

So while the economic outlook is seemingly bleak, there are many reasons for Fintechs – and consumers benefiting from their services – to be optimistic. Saving remains a key area that is ripe for disruption, so we can expect to see new and improved offerings continuing to flood the marketplace. As we move through economic recession and look towards life after the pandemic, Fintechs can help the UK become a strong nation of savers once again.

Nick Chiarelli, Head of Trends, UNLIMITED Group

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As we start to recover from COVID-19, can banks drive the innovation in digital identity that we so desperately need?

The COVID-19 pandemic has dramatically accelerated the adoption of digital financial services. The use of banking apps has rocketed as consumers ditch the traditional bank branch. Consumers have also embraced contactless payments, as COVID-19 throws cash its biggest challenge yet. And, more generally, our changing environment has resulted in more openness to digital services (as outlined in our recent Fintech PR Playbook).

But digital identity is still waiting to take off in the UK. As we increasingly rely on digital services during the pandemic, our banks, retailers, and other critical service providers urgently need a way to digitally establish we are who we say we are. This is a massive opportunity for fintech. So if COVID-19 provides the ‘need’ for greater digital identity services, who will drive innovation?

The UK’s digital identity crisis

Recent research from Nomidio, a biometric identity service provider, found that of the one in seven UK adults who have had to confirm their identity digitally during lockdown, 49% were asked to email sensitive documents such as passports. Our reliance on presenting paper-based documents such as a passport or driver’s license is inconsistent with our new digital expectations. Not to mention how practices like this only add to the growing threat of identity fraud that already exist in the UK.  A digital identity solution is long overdue.

But the UK hasn’t had much luck so far. Plans for national ID cards were scrapped in 2010 after concerns of how the data would be used. And the Gov.UK Verify programme has faced years of scrutiny after failing users and a lack of uptick.

In other parts of Europe, such as Norway and Sweden, nationwide electronic ID (eID) schemes exist and are used by large swathes of the population. Citizens use them every day for all manner of tasks – from logging on to their bank, to purchasing age-restricted products. Last month, it seemed like the Government might be finally making progress towards a new digital ID scheme. However, the UK Government’s plans have already come under fire for lacking actionable outcomes.

The opportunity for banks and fintechs

While a nationwide scheme must be the long-term aim, the Government’s plans are still a long way off. There is an urgent demand for a solution now, but this responsibility doesn’t need to fall to the Government. Banks are well-placed to take the lead on digital identity, as it is intrinsically linked to their services – whether you are opening a bank account, applying for a mortgage, or paying your bills. There are also countless studies that show when asked who they trust with their identity credentials, consumers always rate banks top; and above governments.

Banks have an opportunity to become custodians of identity. But they likely are going to need support from the number of identity verification providers working in the financial services space. Some are even creating their own solutions. Earlier this year, Onfido successfully tested a portable digital ID, which lets consumers securely re-use their verified digital identity to access a range of service providers, all controlled from their smartphone.

UK banks might have the scale, consumer trust and the brand, but they can lack flexibility, speed and innovation – something fintechs have in absolute abundance. Joining forces is not just a smart play; it could give digital identity its rocket launch moment.

Nicole Louis, Account Manager, Nelson Bostock – an UNLIMITED agency

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7 must-read inclusion articles, for Fintechs and beyond

As we look back on UK national inclusion week and see a terrific recognition of Black History Month, we need to remember that Diversity & Inclusion is something that we need to constantly work on, and constantly improve. 

We highlighted in our Fintech PR Playbook that diversity presents both a challenge and opportunity for fintechs – whether demonstrating diversity of spokespeople, or on a more granular, topical level such as technology bias. It’s something that we should all be thinking about and communicating everyday. A week here and a month there just won’t go far enough!

So, for fintechs and all businesses, below are some of our favourite articles to read… not just for today, but all year round.

1.

Ethnic minority employees face ‘psychological burden’ of fighting racism at work | Metro

Natalie Morris, Senior Lifestyle Reporter, Metro warns that while awareness initiatives can have a positive impact for companies, implementing new D&I measures can also create a disproportionate burden for Black, Asian and ethnic minority staff members. Her article highlights the additional responsibility for these staff members on top of their regular workload. It’s something we all need to be mindful of as we continue to push D&I initiatives forward.

2.

Women in fintech series | The Fintech Times

For September, The Fintech Times celebrated women in fintech with a wealth of interviews with leaders across the fintech industry that are worth reading. Beginning with an article that asked – where are all the women in fintech? – this campaign interviewed the likes of Marieke Flament, CEO of Mettle and Sophie Guibaud, Chief Growth Officer at OpenPayd. It also actively championed inspirational LatAm and MEA women in fintech through interviews, such as the Nigerian national and current resident Bunmi Lawson, Managing Director/Chief Executive Officer of EDFIN Microfinance Bank Limited, as well as Monica Saccarelli from São Paulo, Brazil, the CEO of Grão. 

3.

Diversity And Inclusion: Why You Should Never Ever Make These 6 Mistakes | Forbes

Forbes contributor, Carmen Morris, wrote an article highlighting the six mistakes you should never make when it comes to racial diversity and inclusion in the workplace. You need a fully engaged leadership team, you can’t recruit over the cracks, and we all have biases / don’t ignore lived experiences, are just three of the powerful lessons featured.

4.

3 ways to start being an ally to Black people | CNBC

New York-based Catherine Clifford, Senior Entrepreneurship Writer at CNBC, interviewed Michael Tubbs, a 30-year-old Black mayor of his hometown, Stockton, California. Tubbs lists three ways to be supportive allies for black people: Be anti-racist, talk to family and friends, be politically anti-racist. 

5.

Creating a Trans-Inclusive Workplace | Harvard Business Review

“Despite a growing global awareness of the struggles trans people face, many employers remain ill-equipped to create the policies and workplace cultures that would support trans employees.” Christian N. Thoroughgood, Katina B. Sawyer and Jennica R. Webster list four practices that employers can adopt to help create a trans-inclusive workplace.

6.

How can we really make European startups more diverse? | Sifted

Sifted interviews entrepreneurs across France, Spain, Germany and the UK, about the challenges faced by people of colour in the tech industry, and how we can overcome them. It asks, “How can we change attitudes and inclusion in an industry that, while claiming to be determinedly modern and cutting edge, is so woefully backward when it comes to the diversity of its workforce?” 

7.

Fintech Equality Coalition Engages Black Fintech CEOs | Forbes

“Frequently, questions about diversity in fintech center on gender diversity, and that gender diversity means ‘white women’.” Dahna Chandler, Contributor and Daphne Foreman, Editor at Forbes, highlight some initiatives taking place at companies to tackle this issue, and provide a list of black-owned fintech companies that you can support.

 

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The Age of Activism – can we keep up?

This year, we watched activism in the UK change at speed as a locked down population turned to social media and online communities to learn, educate and drive change. Following the murder of George Floyd in the US, there was a renewed interest in the Black Lives Matter movement, which sparked initiatives such as #BlackoutTuesday and #TheShowMustBePaused. These campaigns quickly went viral as outrage grew, and many brands were quick to respond to show solidarity and support. But this raised important questions in many circles, namely:  Were businesses and commentators simply jumping on the bandwagon or was this something they were genuinely passionate about?

Over the past few months, brands, influencers and individuals have been placed under increasing scrutiny. How do their words match with their actions?  It became clear that some of our favourite brands, from Nike to Apple, who were quick with flashy campaigns of support didn’t have the internal teams or structures to match their claimed commitment. This was widely criticised as performative and harmful allyship.

Last week, in honour of Black History Month, we hosted an online panel discussion around the so-called ‘trend’ of activism.  We invited four speakers to share their experience and opinions on how individuals and businesses can – and should – commit to drive authentic change both in the workplace and at a personal level.

Following the #BLM movement – do you think there’s been an increase in ‘performance activism’? Has the response been authentic? 

Chinedu Udezue, Director, BCW: It depends on how you define ‘authentic’. It’s probably true that most brands want to be more diverse and authentic. Brands represent society and there is a general belief within society that people should be treated well and equally – so naturally, they want to be part of the conversation.  But authenticity comes from putting in the work to be the change you want to apparently see  – it isn’t just about putting up one-off quickly forgotten signs and statements. For me, that’s the defining line where many organisations fall down.  

Has there been an increase in businesses reaching out to you to discuss issues around equality and diversity? 

Melissa Lawrence, CEO, Taylor Bennett Foundation: Yes – in the past few months we’ve certainly seen more people and companies reaching out. I believe many of these communications are well-meaning and authentic. We have always been aware that PR has a diversity problem, so I’m happy to see this message is gaining traction. Today, I’m mostly having conversations about how PR businesses can support the Foundation’s work, and while some are being tokenistic in their approach, most of the conversations I’ve had have been more authentic than not.  

As people of colour, do you feel more pressure to speak about these issues than you did previously? 

Brenda Nabanja, Founder/CEO Girls In Power: As a black woman, just working in the creative industry alone has opened my eyes to the lack of diversity around me. Carrying a brand like Girls In Power is not an easy job but I wouldn’t say I’m feeling more pressured in myself.  From a personal perspective however, I’m going to continue doing what I do and push for the conversations that raise the profile of black women to continue. 

Have you felt any personal pressures following #BLM? 

Chanté Joseph, Social Creative and Host of C4 ‘How Not To Be Racist’: There has been a huge pressure within the media to publish more black faces, more black stories. But this isn’t always helpful because we’re often being asked to rehash or relive our racial trauma – so that other organisations can look like they’re supporting our struggle. Here’s the thing: not all black stories are trauma stories. We are not two-dimensional and not every story we want to tell is about prejudice or racism. No other group is constantly asked to rehash racial trauma, and so in that way, yes, it can feel performative.  

Melissa: Just as it can be hard to watch and read about racial trauma, it can be equally hard to rehash it and constantly speak about it. 

Is there anything businesses can do differently from that perspective? 

Chinedu: A common experience I’ve had in group situations is looking around me and realising that I’m everyone’s “one black friend”. So invariably, you become their single point of reference for everything “black” and people come up to you and ask you questions as if you have all the answers or as if you speak for everyone that looks like you. It shouldn’t be this way. If businesses want to do better, they can start by speaking to us about more than just race. To PR organisations I would say: why is it that the only time you want to talk to me, it’s about race? Why not ask me about the technology sector that I work in, or predictions about the corporate sector? You can approach me for comment on my other areas of expertise, and this is something that often gets lost in these conversations. As black people, we have more to talk about than just ‘being black’.  

How comfortable are you with being seen as an ‘educator’ in this way? 

Chanté: Lately, I’ve been inundated with requests to ‘educate’ people. It’s important work, but I’m a person outside of how to talk to people about racism. If I had any words of advice, I would point out that in my experience, people only want to talk about surface-level issues that they can distance themselves from. Actions and remarks that they’ve never made, so they feel safe from the ‘racist’ label. But it becomes a lot more uncomfortable when you start speaking about institutional racism, or for example, all the ways in which the justice system is systemically racist. But if we’re going to learn about these issues, we need to learn about them all – or it’s just hollow. 

How do you work with other organisations to make sure your time and work is valued? 

Chanté: I’m always willing to help out black-owned businesses. After the C4 program came out, I was inundated with requests, so I signed with an agency. Nowadays, people that want to reach out to me have to reach out to my agent first, which places a barrier between me and them and keeps me from feeling guilty about being recompensed for my work.  

Is it difficult to toe the line between being a charity and ensuring that you’re properly recognised for the work you do? 

Melissa: In the last few months, I’ve had a lot of emails requesting to ‘pick my brains’. And I always say: while I’m happy to help wherever I can, we are a small organisation, with limited resources and we have overheads to cover. If people want more than a quick conversation, I will ask for a donation to the Foundation or charge consultation fees. Of course, activism is about more than just money but we have a lot of work to do, and it’s important that the team and I are paid for our expertise and time.

Which brands do you think got it right / are getting it right?

Chanté: Black Ballad has done an excellent job – it’s already what their content is centered around. I also really enjoyed Bumble’s campaign (which I worked on) about black love and what it means. Positive stories like these are uplifting, and showcase the different facets of black identity. 

How do you feel about cancel culture?

Chanté: I think as social media users, we need to give people the grace to take accountability for their actions. Accountability is about growth – it’s about holding up your hands and admitting when you’ve made a mistake. 

What does good allyship look like? Can it help break down otherwise defensive barriers? 

Brenda: I think a lot of this work often falls on black staff who aren’t paid extra money to do it. Allyship can be helpful but white people need to make sure they don’t talk over black people sharing their experiences. Investigate yourself, and always check your privilege. 

Any final thoughts?

Melissa: We tend to think of discomfort as a negative thing, but it’s really truly only when we’re uncomfortable that we find room to grow. In our industry especially, being uncomfortable can help us become more creative in our thinking – so let’s keep pushing ourselves and each other to improve.   I want to see change that has progression. Not just change at a superficial level. Keep working with the Foundation and support us.

Brenda: So much racism happens on an interpersonal level, but these conversations are vitally important if we’re going to improve. 

Chanté: Black people are not just about Black History Month, we’re forever. We won’t stop existing once this month has passed. 

Chinedu: Black people are not homogenous either and our experiences are wildly different, depending on social class, gender, religion and background – just like all races. There are nuances to these conversations that we mustn’t forget. 

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Developing a new website look and feel for Hoyng Rohk Monegier

The brief: HRM is an IP law firm based across multiple locations in Europe. We were approached to refresh their website to reflect the essence of their business, promote the careers section and demonstrate strong UX/UI thinking. An integral part of the website was translating it across five languages which brought its own unique challenges. We ended up delivering a fully responsive website via a custom built WordPress template.

The process: I was actually tasked with this website brief as part of my interview process before being accepted within the Nelson Bostock studio team. I approached this brief starting with a UX (user experience) mindset and analysis of the old HRM website to source user pain points within the current user journey. Such pain points included a complicated user journey across various web pages, slow page speeds, and no content hierarchy, making it difficult for the user to find specific bits of content. I developed a new site plan in order to simplify webpages and  streamline content to improve the user journey.

After sitemap approval, I developed a set of wireframes exploring various webpage options. The wireframes demonstrated the concept of repeatable building blocks (text and media elements that can be replicated across various pages to improve overall consistency). I also incorporated cross-pollination of key content and CTA’s across various webpages to increase the click-through rate.

After the UX part of the process was approved, I started developing the UI (user interface) look and feel of the webpages. In order to keep the site modern and timeless, I explored  web design trends and incorporated that into the design. Examples of this include strong accent colours, gradient colour fades, and a minimalist, simple streamlined user interface across all webpage designs. Check out web design trends for 2021 here: https://www.bluecompass.com/blog/web-design-trends-to-watch-for

Along with the UX and UI part of the website, I art directed the photography of the entire site including partner headshots, group shots and showcasing imagery for the industries/practices. Our talented photographer, Dan Wong (from sister agency Fever) was tasked to shoot all 144 partners across various European offices. And our insightful content team including Tim Lines and Rufus Jay aided from a content and SEO perspective.

The outcome: After a mammoth amount of user testing across 180 pages of design we were finally able to hit the anticipated ‘go live’ button. The fully responsive new website design received praise for the simplified user journey process, faster page load speeds, and striking design which really helped HRM standout as a major player within their field! The new website reduced HRM’s average page response time from 1042ms to 517ms (a -50% decrease!). Another improvement was the simplified content and page structure.

The final part of this project was creating a ‘playbook’ that acts as a mini brand guidelines for HRM to refer to should they need to build out more webpage designs. Longevity and simplicity is the key term for this project, check out the full website here: https://www.hoyngrokhmonegier.com/

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The Future of Mobility: Collective innovation over individual ambition

  • Integrated mobility solutions are the answer, but openness is key
  • There is evidently an appetite within the industry to collaborate, which bodes well for the future
  • Government attitudes to shaping regulation is vital; but they have an uneven record

Panel: Lime, Zenzic, AutoTrader, BMW Group
Host: Shane O’Donoghue, Director, Nelson Bostock

Our panel discussion looked to answer some key questions:

  1. Can Britain leverage the leading role it plays in automotive, tech, transport, and regulation to turn itself into a mobility powerhouse?
  2. Is it possible for companies to marry their own individual ambitions with the consumer desire for more integrated mobility solutions?

The opportunity is there for the UK to lead but only if industries work together

A repeated theme throughout was that collaboration can be the key to the UK’s potential success against its larger and well-funded international competitors. But Ian Plummer, Commercial Director at AutoTrader cautioned there would be challenges if companies want to manage the entire consumer journey themselves. Some will likely resist the openness and convergence that is required for the integrated solutions that consumers are after.

Agata Stachaszewska, Head of Marketing and Business Development at Alphabet UK (BMW Group), believes that the levels connected mobility in London has already shown it can work in the UK, but also that it is not yet prevalent across the country like it is in somewhere like The Netherlands. One area of particular improvement needed is in the availability of charging points – as it still much more convenient to use cars powered by traditional fuel sources. Given that our data suggests that the vast majority of consumers are not widely driven by consumer emissions, there is a clear need to guarantee convenience.

There must be alternatives beyond just automotive

Zenzic CEO Daniel Ruiz said that he was optimistic because he has already seen the collaboration in the British automotive industry, in the shape UK Automotive Council, not only between the established manufactures but also disruptors, logistics companies, local authorities and legislators. He also hopes we are beginning to see an increase in partnership across modes of transport as well, such as linking up with rail, to address the challenges of integrated mobility solutions.

Whilst using EVs may reduce emissions, he argued that integrating transport solutions could have an even bigger effect and have a greater impact on areas such as congestion. He believes the government needs to provide a framework to reduce risk and encourage investment so that the industry is corralled in this direction. Whilst they may have been slow to respond in areas such as e-scooters, the landmark Automated and Electric Vehicles Act (2018) proves they have the ability to lead the way for the rest of the world.

We need regulators to be brave

Lime’s Head of Policy, Alan Clarke agreed that whilst the UK certainly does have the potential to be a leader in the mobility sector – as shown by the work coming out of the tech sector – he has significant reservations over the UK approach to regulation which he believes has lagged behind other areas in of world. With shared mobility solutions, in particular, it is his view that the UK has been behind the curve in establishing regulatory frameworks and governmental support allow tech companies to thrive at scale in Britain.

Alan and Daniel agreed that government in the UK has a tendency to view new methods of transport by tentatively assessing how they fit in to current systems, whereas they should generally be trying to encourage them in their early stages and seek to mitigate any potential issues once they have developed. This may be a higher risk model, but it is one that is used in other industries. Whilst there need to be checks in making sure solutions are safe and effective, is important to strike a balance with encouraging innovation. Agata made the point that companies like BMW and Alphabet, much like governments, are often naturally risk averse; however, she also stressed that they have learned lessons from start-ups in recent years in knowing that they need to be forward thinking and agile to adapt.

Connected data has the potential to be revolutionary

In terms of the way data is used, Agata believers customers are willing to share if they know it is being used fairly and correctly, citing a recent Alphabet example where there was a willingness to share GPS connected data to inform the optimal locations for charging ports. In this instance, they have used data to not only build a compelling argument but also to remove feasibility barriers.

Daniel from Zenzic cited the UK as the number one country in the world for cybersecurity. He mentioned emerging programmes to harness data, not just between the automotive industry as has been done in Germany but across different modes of mobility. Ultimately though, the key was to take the data from being “just numbers” and turn it into actionable insights. Ian from Autosuggested that the data shared by TfL is a great example of this, as is the crowd-sourced information used to benefit consumers in Waze.

Consistency of Message

Ian also stressed the need to foster an open and collaborative approach to innovation that puts customer’s needs at its heart. It is important he felt to provide consumers with consistent and compelling messaging to take them on this journey: a compelling value exchange is the only thing that will make new mobility solutions attractive. All the panellists felt optimistic that the opportunity is there. British companies, by collaborating and with the support of progressive regulation and an ambitions government, can become a global mobility powerhouse.