As innovation in the financial services industry moves online and onto our smartphones, so does the associated fintech PR and marketing communications. Since fintech companies consist of both established and startup companies their approach to social media is breaking ground as well. So, what can we learn from how top fintech companies are using X, formerly known as Twitter? Wade in for examples.
The financial technology industry (fintech) is one of the most innovative and revolutionary business spaces. In the past few years, a small group of small startups have disrupted the massive, traditional, and highly profitable banking industry.
From eliminating account maintenance fees to allowing fast and efficient online payments, fintech is making waves in the financial sector.
With so many changes, PR pros can learn from the way fintech companies use X, formerly known as Twitter. That’s why we’ve analyzed the Twitter accounts of 10 top fintech companies. Here’s what we’ve found.
Showcasing Their Security Updates
People love the convenience of modern fintech tools. Unfortunately, with so many recent security breaches, companies need to reassure users that their personal data is safe. At the end of the day, we’re talking about people’s financial health and with $16.8 billion worth of identity data stolen last year, this isn’t a problem to overlook.
Fintech companies thus spend a great deal of their time working to improve their user’s security, X/Twitter being a powerful way to communicate these changes.
Ever since May 25th, GDPR’s implementation deadline, companies haven’t stopped messaging their users about the way they comply with the new rules. Stripe is no exception, as you can see in the following tweet where they not only share how they conform to the new regulations but also share a lengthy guide to understand more about the subject.
Promoting Their Business
Fintech companies are solving a long list of modern challenges. This includes: making banking more accessible while streamlining processes, increasing investments without hefty fees, facilitating payments between consumers, guaranteeing loans without additional bureaucracy, and other financial services, all while working within a well-regulated system.
With a shifting landscape of services and regulations that govern their industry, X, formerly known as Twitter, plays a crucial role in the way companies inform the press, consumers, and investors about changes they’re implementing on their platforms.
PayPal highlights their ongoing dedication to make the payment process frictionless so that consumers can finish their purchases while on the go. Thus, increasing returns for businesses by limiting the abandoned shopping cart problem.
Our new Smart Payment Buttons™ automatically present your customers with the most relevant payment options from @Venmo to PayPal Credit*. https://t.co/3EPioRTNON *PayPal Credit is subject to consumer credit approval. #SmallBusiness #eCommerce pic.twitter.com/F16jOSpjtQ— PayPal For Business (@PayPal4Business) July 26, 2018
N26is a European bank that’s attempting to change how the whole banking industry works. In this tweet, they share when they hit an important milestone: the 1 millionth user.
Grown-up or still growing? How about both? Today, we just hit 1.000.000 customers! A big thanks to you for helping us get there. To celebrate, we put together some fun numbers on what that looks like. And a recap of how we got here. https://t.co/7JgfoQItpy pic.twitter.com/RAYeddl3pE— N26 (@n26) June 4, 2018
Robinhood, the commission-free trading app that’s revolutionizing the way people trade stocks and other financial instruments, shares press mentions on Bloomberg.
Vlad spoke with Bloomberg’s @Selina_y_wang about why we're becoming one of the largest options trading platforms, our commission-free trading model, and giving investors access to more financial services, at the best possible price. https://t.co/8M7QW1kIVe— Robinhood (@RobinhoodApp) June 21, 2018
Cryptocurrencies have taken the financial space by storm. Everyone talks about them, yet fewer are buying and using them. Since they’re not regulated, traditional investors are hesitant to jump into the fray.
Coinbase, the largest cryptocurrency exchange, is the first to be regulated by the SEC (Securities and Exchange Commission). In this tweet, they share the news since it will likely increase the number of investors to their platform.
Today we’re excited to announce that we’re on track to become a US-regulated blockchain securities trading venue. We believe this is an important moment not only for Coinbase, but the entire crypto ecosystem. https://t.co/3grNDa6l9Z— Coinbase (@coinbase) June 6, 2018
There’s no better way to promote your financial platform than by giving money away. Skrill, the online payment processor, shares a promotion that hopes to increase their user base.
Supporting Social Causes
Fintech companies aim to improve consumers’ lives with faster, better, and cheaper tools. Yet not everything is about money. Since companies, even start-ups, cannot live outside the communities where they live and work, fintech uses X, formerly known as Twitter, to showcase their support of social and community causes.
Simple, the leading US online bank, shares their support of the ALS Therapy Development Institute.
We won’t shy away from a little spice in support of a great cause. Thanks to @meetfabric for the @ALSTDI #ALSPepperChallenge nomination! We graciously accept and nominate @AzloNow @vacasarentals and @bumped.— Simple (@simple) April 24, 2018
Visit https://t.co/G1b5Av7bJs to donate! pic.twitter.com/HaeLfV3Pkq
SoFi shares how their’s employees have taken the time to volunteer for HandsOn Bay Area.
SoFi Members are really some ambitious folks! They showed up this morning to our member event (on their day off) and got to work assisting us in helping the community. #WhyISoFi @handsonbayarea pic.twitter.com/Ridg7sb2BN— SoFi (@SoFi) June 2, 2018
Here, Lending Club shares how their employees prepare for San Francisco Pride.
PR Takeaway: Fintech on X/Twitter
Fintech, much like other tech industries that hope to streamline experiences for consumers in traditionally bureaucratic industries, will continue to break ground. As the fintech space becomes more crowded and platforms differentiate themselves by offering features to enhance the consumer experience, they’ll need to quickly communicate with consumers and investors while keeping an eye on their competition. One way to do this is to succeed at X, formerly known as Twitter.
X/Twitter is an ideal channel for keeping up with (and leading) the conversation around industry developments, it is essential to a robust communications strategy.
So, when you’re ready to amplify your brand messages while listening to the competitive landscape, we can help.