How FinTech Innovations Will Impact The Future of B2B & Corporate Banking
Recap of Kathryn Strachan’s panel session at Trade Reboot Conference 2020
On 21st October 2020, our Managing Director Kathryn Strachan and five other FinTech industry experts joined a panel debate at the Trade Reboot Global Commodity Conference to discuss the impact technological innovations will have on the future of B2B and corporate banking.
Focusing mainly on innovations like Blockchain and Open Banking, Kathryn shared her experience and expertise on the subject and joined discussions with her fellow industry experts also speaking at the event.
Join us as we share the key reflections and main messages from Kathryn’s TRGCC talk.
The Main Challenges for FinTech Innovators
To start things off, the panel discussed some of the main challenges facing FinTech brands and their innovations.
Kathryn explained how Blockchain got a bad reputation because of its association with Bitcoin and that it took Open Banking years to gain a solid foothold in finance because people found it disruptive and unsafe. Many of the misconceptions about these technologies come from a lack of understanding of how they work and the value they provide.
To encourage more widespread adoption, Kathryn stressed that Blockchain and Open Banking providers have to educate traditional financial institutions and their users, break down misconceptions and essentially make both innovations “boring”.
The Power of Content Marketing
Following the debate about the challenges facing FinTech innovators, our panel moved on to discuss how FinTechs can overcome these challenges.
Kathryn explained how Open Banking industry leaders were able to get regulators to accept and even embrace the technology by consistently creating educational content about it. Although, she also suggested that people need even more reassurance to trust and understand Blockchain.
Arguing the unbeatable value of content marketing to educate, connect and engage with audiences at scale, Kathryn gave her expert advice on how FinTechs can use content to fill the “knowledge gaps” around their innovations.
Identify Your Target Audience
“If you’re looking to start your marketing efforts, start by identifying your target audience. Who are they and what do they do? And how do you help them? Focus on the user and the problem you’re solving.”
Kathryn has years of marketing experience and knows the importance of understanding your target audience before creating content to educate them. At Copy House, we always take time to understand you and your audience so we can create educational content that fills information gaps for them. We then create a content calendar tailored to your brand and target audience to keep your content efficient and relevant.
This is the exact advice she gave when explaining how to market new FinTech innovations: understand your audience and create a content calendar with them in mind.
Challenges for Traditional Banks
To wrap things up, Kathryn and her fellow industry experts discussed the main challenges that traditional institutions face and how they’ll evolve in the future.
During these discussions, Kathryn stressed that big banks will need to take customers more seriously and make finance more accessible if they hope to compete with FinTechs in the future. To win the trust of younger generations, traditional banks also compete with digital banks like Monzo or Revolut, and even big e-commerce brands like Amazon.
To sum up, FinTech innovations need to win the trust of traditional financial institutions, regulators and consumers. Additionally, traditional banks need to update their ways of communicating with their audience to be able to compete with FinTechs in the future.
Content marketing is the most effective way to educate, connect and engage with your audiences and to scale the relationships you build, even with a smaller team. But take the time to get to know your audience and identify “knowledge gaps” to be able to create effective educational content.
Create Powerful Educational Content With Copy House
Copy House specialises in taking complex FinTech solutions and turning them into educational, fun and engaging content. Combining our expertise, creativity and thorough research, our team helps brands like Klarna and Anyblock fill knowledge gaps and connect with their audiences.
Get in touch to arrange a chat with us.