The UK fintech landscape is ever-changing thanks to the sector’s rapid growth and expansion into new business segments. It means fintech companies need to be highly agile, innovative and very attuned to their user needs. Sapience is a like-minded PR agency specialising in technology. Our achievements and long-standing relationships with companies across the tech and financial services sectors position us now as one of the UK’s leading fintech PR agencies.
“Sapience has been a tremendous partner on our journey. They have helped us build and extend our brand around the world as a leader in the FinTech space.”
Michael CarterCEO – BizEquity
Delivering a great user experience is essential for fintech companies, be they large or small, B2B or B2C. Efficiency, speed and scalability matter too, but an ultra-intuitive, user-friendly interface shows a true understanding of the customer and that instils confidence. As fintech companies enter untapped markets, seeking to change lifestyle habits and alter people’s attitudes, confidence matters. When fintech touches on individuals’ savings, investments and security, trust is critical.
Fintech is a business sector that’s both crowded and highly competitive. It means that even the most dynamic companies with the best fintech branding, require skill, perseverance and a strategy. After all, fintech companies have had fewer years to prove and publicise their services compared to legacy players, making successful market entry extremely challenging.
At Sapience, we understand these challenges. We are fintech PR specialists, utterly committed to delivering the right PR outcomes for our clients. We understand the imperative to instil similar levels of trust to ensure the best working relationships.
Our approach is to develop a fintech public relations strategy tailored to suit the specific needs of the client. Broadly speaking, we seek to build awareness among target audiences to create familiarity that leads to acceptance. This in turn opens the door to adoption.
As a fintech PR agency, our team comprises consultants from the worlds of banking and financial services, financial media and tech start-ups. Importantly, we offer deep experience in tech, financial and fintech PR campaigns, both in the UK and internationally.
Unlike some other fintech PR companies, our experience extends to North America, Asia, other parts of Europe and the UK, from some of the world’s largest fintech companies from Asia, including e-commerce, payments, insurtech and cryptocurrencies, to Europe, in some of the most exciting cutting-edge new fintechs, including proptech and investech in the UK. All of this is important for a healthy cross-fertilisation of ideas.
The understanding we bring is borne of actual experience, but we keep a close track on the regulation and underlying technologies, including blockchain, artificial intelligence and machine learning. We have experience and know-how from some of the world’s leading fintech events, such as London Fintech Week, Money 20/20, Hong Kong Fintech Week and the Singapore Fintech Festival. This is in addition to our strong relationships with the key trade and business media.
What is Fintech?
Fintech is a broad church. It encompasses and links to other tech sectors, such as insurtech (insurance), regtech (regulatory), suptech (supervisory), wealthtech (wealth management), proptech (mortgages), e-payments and remittances, cryptocurrencies (digital assets), lending and so on. Data analytics, artificial intelligence, machine learning and blockchain are now widely used across all these areas.
As an industry, fintech is growing at around 25% a year and expected to be worth more than $310 billion by 2022, with an ability to reinvent and adapt itself amid waves of fresh innovation. It’s shaped by the changing needs and lifestyles of businesses and people worldwide and has enabled unprecedented levels of financial inclusion across some of the remotest parts of the world.
Fintech has enabled small businesses to get credit and access to funds, street sellers in rural China, India and elsewhere to offer e-payment options, improved regulation, including faster and better KYC checks, along with virtual banking thanks to mobile technology, and for most people is now part of everyday life.
While fintech and the language around may sound new, financial technology has in fact been around for millennia… from pebbles and scales centuries ago to credit and debit cards in the 20th century, through to today’s highly dynamic fintech world of e-commerce, mobile payments and virtual banks.
It’s very clear that the financial services sector is experiencing a period of dramatic and rapid change brought about by digitalisation.
While change was constant and generally incremental in the past, it is now highly fluid and keeps financial institutions and regulators on their toes as they try to keep up. The next two decades will see the banking industry change beyond recognition. If it doesn’t, banks run the risk of going the way of rustbelt industries in many countries. Careful planning is needed.
Sapience has fintech experience across the spectrum and with all sizes of business, and in the UK we have deep expertise working with small and medium-sized fintech companies. The longevity of our client relationships says a lot about our ability to deliver high quality work on a consistent basis.
We sit down with our clients to understand their exact needs and price transparently, based on the amount of time and the number of Sapience team members required to get the job done.
It’s hard to put a figure on the actual size of the market, given it’s fairly loosely defined and there a growing number of sectors within it. But there are estimates that value it at around US$200 billion annually at present and growing about 25% a year. Leading global fintech hubs include London, Amsterdam, Berlin, Hong Kong, Shanghai, Singapore, Melbourne, San Francisco and New York.
The principles of PR are similar across industries, but for each industry there’s a need for experience, know-how, stakeholder knowledge and media connections. As a rule, the deeper a PR consultant’s understanding and experience, the better the counsel they can provide to their clients. Of course, experience and skills can straddle different verticals, and can be helpful for generating fresh ideas, but direct sector experience remains very important.
- Senior executive buy-in is very important – without it, achieving the right outcomes becomes far more difficult. In the fintech industry, SME executives and founders are quite often too busy growing the business to put time into PR and communications. This is not unique to fintech, but as fintech tends to be a younger industry, it is quite prevalent.
- A lack of strategy can present challenges. Our approach is to have a strategy and then align tactics to it. Without being underpinned by a strategy, tactics can become ad hoc, disjointed and therefore less effective in the longer term.
- We quite often see a blurring between marketing and PR, which is understandable, but can get in the way of effective communication with the media.
- Sometimes the role of PR is misunderstood. Clarity on expectations and deliverables from the outset is important. This goes beyond pure results. It needs to include time invested and time worked on the project.
Press releases may be considered old-fashioned, but they remain a very effective way to reach large audiences and get to the top of search engines. Media appetite for press releases varies in different geographies, but they are useful statements for the record, can be a source of blogs, tweets and WeChat posts, and they can also be readily translated.
While online channels are clearly very important, a good PR campaign would take a more holistic approach to include speaking events, exhibitions, face-to-face interviews, television etc. Depending on the nature of the campaign, there may be a need for advertising or sponsorship, a media tour or a press conference also.
We’d love to hear from you. You can get in touch with us to discuss your corporate PR needs using this form and we’ll get back to you as soon as feasible.