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The secret weapon in Fintech’s roaring success

With record figures of investment last year, Fintech challenger brands have gone mainstream and their secret weapon — transparency.

The soaring success of Fintech challenger brands

Speaking directly to the future-facing, digital native Millennials, Fintech (namely online banks and payment gateways) are on a mission to revolutionise the way people use money and transact with businesses. Fintechs are classic challenger brands. They entered a market to disrupt it, and they’re smashing big banks out of the park. Examples like Starling, Thought Machine and JAJA are some of the fastest-growing in the UK right now.

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See-through marketing.

What does transparency mean in Fintech?

With AI integration, unrivalled data analysis and blockchain developments, there are an array of elements that play a role in improving visibility across Fintech products.

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Transparency, and then more transparency

Increased visibility in Fintech isn’t just about the eradication of hidden fees, investment clarity, and payment tracking — it’s also about the companies’ pay and welfare policies for their workers. It’s about the action the companies take to minimise their impact on the environment, and what they give back to society.

What can be learnt from the Fintech disruptors?

Brand transparency is being expressed successfully across different sectors and industries, from Patagonia’s clarity on their clothing supply chains to Buffer’s publication of their workers’ pay. The clock is ticking as consumers get used to these high levels of honesty and start to expect it in every aspect of every business they engage with.

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