Roundup: October 2023’s Best Fintech & Marketing Stories

Last Updated on October 31, 2023 by admin

We’re officially in Q4 and things are heating up (well, with fintech – not so much the weather). This month’s roundup looks at several different trends making headlines – from what’s going on with FedNow to the cost of AI. We know everyone’s coming down from the Money 20/20 high, so enjoy this digest at your leisure. We also feature our own fintech marketing articles from the month to give you helpful advice and tips on everything from content marketing strategy to tactical tidbits that work. 

We also recently launched our Fintech Demand Generation Playbook, which is a can’t-miss resource – and it’s free. You can also still download the Fintech Content Marketing Playbook to access -in-depth info on how to build audience personas, create a strategic content calendar, measure for success, differentiate your fintech message, and optimize for better results. We’ve already received great feedback and we’re open to any comments you’d like to share. 

As always, if you want to hit the next level of content marketing at your organization and produce more consistent, interesting content in 2023 and 2024, reach out for a free consultation. We’d love to talk through your thoughts and offer some of ours to ensure you get started on the right foot. 

In the meantime, here are some of the most interesting stories around fintech and marketing and…fintech marketing from October. 

Top Fintech News from Around the Web

Why Fintech is a Critical Piece to Meet SMB FedNow Demand — The small business sector, historically overlooked by financial institutions, faces significant vulnerability. Economic challenges in 2023 have underscored the importance of cash flow for these businesses. The launch of FedNow in July appeared as a potential remedy, offering smaller banks and fintechs serving small-to-medium businesses (SMBs) a new payment rail to better serve their clients. While other real-time payment systems, like Zelle, exist, their adoption has been limited for smaller businesses. FedNow’s integration with federal systems makes it a cost-effective alternative. However, broader adoption will require fintechs to bridge the gap between banks and their SMB clients.

Investing in the Next Evolution of Banking and Customer Loyalty  In 1984, Diners Club began the first card rewards program, giving points for purchases, which became increasingly popular. Since then, credit card companies have evolved rewards to match how people shop. As online shopping grew, companies like Chase Dining introduced new types of rewards on their apps or websites, giving customers more reasons to use their cards. These rewards help banks gain customer loyalty and save costs. However, with many companies now offering rewards, banks need new ways to stand out. The latest trend is to offer instant online rewards without extra steps. This method helps banks keep their brand noticeable while growing profits. As times change, banks will keep finding ways to reward and keep their customers.

AI’s Cost Curve Has Big Tech Losing Money —  Big Tech companies, including Microsoft and Google, have heavily invested in Artificial Intelligence (AI) but struggle to achieve profitable returns due to the high costs associated with developing, training, and maintaining these AI models, according to The Wall Street Journal. This new technological shift contrasts traditional software economies of scale. The energy consumption of AI is also alarming, with a study predicting that by 2027, AI servers could use as much electricity as Sweden, accounting for approximately 0.5% of global electricity. These high costs force businesses to consider innovative pricing strategies and business models. History suggests that new technologies often begin with high costs, which reduce as they mature. Efficient AI implementation is essential, especially in sectors like fraud prevention in finance. Proper utilization of AI can streamline processes, offering growth potential and enhancing customer experiences.

How Fintech Is Accelerating Financial Inclusion —  Many leading fintech firms aim to “democratize access to financial services,” a goal encapsulated by the term “financial inclusion.” Defined by the World Bank, financial inclusion ensures that individuals and businesses can access affordable, beneficial financial products and services responsibly. In the U.S., 22% of households are unbanked or underbanked. Fintech uses emerging technologies to improve financial services, enhancing consumer credit access, usage, and quality. Fintech can also enhance customer experiences, promoting consistent use. With user feedback, fintechs can develop high-quality, inclusive financial experiences that address the needs of all, especially the underbanked.

Top Content Rewired Posts from October

And of course, here’s a curation of Content Rewired’s top posts from October:

Top AI Prompts for Fintech Marketers —   AI prompts are proving invaluable for marketers, enhancing their content strategies. They simplify complex subjects into easily digestible content while ensuring a customer-centric approach. Additionally, they offer predictive insights on future trends and guide content across diverse media, from written pieces to podcasts. Crucially, AI tools can optimize content promotion, from determining the ideal posting times to suggesting relevant hashtags. Yet, while they amplify marketing efforts, these AI prompts should be used in tandem with human creativity, ensuring content is not just relevant but also resonates with the audience. Read the full articles to get the prompts that work best. 

How Fintech Marketing Leaders Can Get Buy-in for a Content Marketing Program Fintech leaders are turning more and more to content marketing for its potential in engagement, brand-building, and growth. However, it’s sometimes not an easy feat to get organizational buy-in. Marketers face various challenges: a lack of understanding of content marketing’s benefits, difficulty in pinpointing its ROI, constrained budgets, a disconnect from larger business objectives, and limited internal resources to manage content effectively. That’s why marketers must be proactive. Learn the tools of the trade to win stakeholders over.

Four Strategic Frameworks for Fintech Content Marketing Programs PART I —  Here’s a non-negotiable: a content marketing strategy that strikes a chord with your audience. Two major frameworks help guide this: the “Buyer’s Journey” and the “Customer Lifecycle.” This article walks through both and explores how fintechs can remain constantly engaged with their audience, be it potential prospects, current users, or even those who’ve drifted away. It’s a precursor to part two, which covers two additional frameworks for content marketers. 

Four Strategic Frameworks for Fintech Content Marketing Programs PART II – In the first part of this series, we discussed the “Buyer’s Journey” and “Customer Lifecycle”. This article covers two more frameworks: the “Content Pillar” and “Content Funnel” frameworks. Whether your goal is to offer content that resonates with your audience and ties back to your main mission or tailor content to each stage of the buyer’s journey, you’ll find a framework that works for you. The bottom line is to make sure you’re speaking the right language at the right time. 

Looking for more in-depth fintech marketing tools and content? Check out one of our helpful guides: 

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