Henry FeintuchHenry Feintuch

According to Statista, the Americas led the world in the number of fintechs—some 13,000+—as of 2024. The U.S. fintech market is valued at $4 trillion and is expected to grow at a compound annual growth rate of 11 percent. Revenues in the sector are projected to grow almost three times faster than those in the traditional banking sector between 2022 and 2028. Compared with the six percent annual revenue growth for traditional banking, fintechs could post annual revenue growth of 15 percent over the next five years according to McKinsey.

What does it all mean for industry players, PR practitioners and marketers? There’s significant economic opportunity for the most innovative companies and those whose marketing and PR figure out how to capture the attention of the market.

How does a fintech startup find a way to stand out in that crowd? It starts with a business model focused on a particular type of service or marketplace niche that can benefit from disruption. Some examples of these types of companies include:

  • Coinbase, which IPO’d in 2021, built its success as a user-friendly way to buy, sell and store crypto.
  • Revolut offered a wide range of services to help consumers spend, send and save smarter.
  • ClassWallet focused its payment solutions for compliance and control applications, initially in education and then more broadly for local and state governments and non-profits.
  • TransferWise (now Wise) became the international money transfer partner of choice because it helped consumers avoid high exchange fees.
  • Vaultavo removed the element of vulnerability by securely storing crypto.
This article is featured in O'Dwyer's Aug. Financial PR/IR & Professional Servcies PR Magazine

Kiva used its customer base as a lending pool, offering low-cost microloans to underserved individuals and communities.

  • SurgePays partnered with the nation’s convenience stores to provide financial and telecom products and services to underbanked and underserved consumers.
  • Square allowed (very) small businesses to accept payments and then offered additional services as the companies grew.

With the business direction and fundamentals in place, bring on the marketers and the PR practitioners. By and large, fintech and financial services companies understand the necessity of a PR program. But for many CEOs, CMOs and those managing the PR function, PR = press releases and media relations. End of story.

Clearly, there’s so much more to that story!

Strategic PR is far broader than simply getting a profile in TechCrunch or pumping out a barrage of press releases whose only reason to exist is to keep shoveling out more releases to satisfy some arbitrary volume requirement. It’s critical to build thought leadership and open a conversation with those you’re trying to influence. PR programs shouldn’t just be about a product or funding announcement.

Here’s a checklist of core components of a prototypical fintech/financial services program. Every item might not be appropriate for each company—but as a whole—it provides a strong template for strategic PR program planning:

  • Brand building/positioning.
  • Thought leadership.
  • Crisis communications plan.
  • Industry analyst briefings (the original marketplace influencers).
  • Bylined articles in key trades.
  • Case histories, preferably with client involvement and attribution.
  • Op-eds and blogs.
  • Market research and surveys.
  • Social media (B2C and B2B).
  • Speaking platforms.
  • Award and recognition programs.
  • Trade show marketing.
  • Association marketing.
  • Hosted special events and webinars.
  • Proactive media relations, not just press release follow-up.
  • Sourcing breaking news opportunities with tools like editorial calendars and subscription services including ProfNet, HERO and Qwoted.
  • Rapid response program.
  • Courting and developing a relationship with hometown media.

Let me expand on a few of these:

Brand building and positioning. A good PR firm—or in-house team—can help your fintech company create a brand voice and narrative that will serve to position your brand effectively in a crowded marketplace. They will work with you to craft a unique value proposition that speaks directly to your target audiences.

Thought leadership. You will, in all likelihood, be traveling to support your company including sales meetings, fundraising presentations, attending conferences and exhibiting at trade shows. Take advantage of your existing travel schedule to maximize opportunities. Why not try to get a speaking slot at that conference or meet with select reporters at that trade show or brief a local reporter on a key industry trend impacting businesses in their region?

Crisis communications plan. This is a critical necessity that every company should have but few want to invest in upfront (almost like personal life insurance). The best time to prepare a plan is before you ever need it (trust me on this). Fintech companies have access to their customers’ most sensitive data; a disciplined approach to crisis communications that leaves “no stone unturned” will help prepare you for almost any scenario you may encounter. When the crisis hits, it’s too late. Your brand reputation and company valuation can flush away in a day’s negative news cycle.

With a strategic PR program in place, there’s plenty of room for creativity or the “stunt” approach, which elevates a brand for 15 minutes of fame and lures new customers who often stick around long after the stunt is over. That has worked well in this vertical:

You can increase the ROI of any PR program by bringing your PR team in on company meetings and upcoming plans; a proper PR program for fintechs, whether conducted internally and/or with external support, requires 360-degree strategic programs. Companies need to develop a rounded program that will support business objectives and target the many natural audiences for your campaign.

By leveraging the full spectrum of services that innovative internal PR teams and external PR firms offer, fintech companies can build stronger brands, engage with key stakeholders and navigate the complex media landscape more effectively. This comprehensive approach ensures sustained visibility, credibility and growth in a competitive market.

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Henry Feintuch is President of tech PR firm Feintuch Communications.