Marketing, writing about, and promoting fintechs is about balance. To convey the benefits of these fantastically complex and innovative products correctly (things that promise to change the game, upset the applecart, or otherwise verb the noun) you have to render them in simple terms. You need to highlight why your fintech is meaningfully different from a conventional provider such as a high street bank – and explain why it should be trusted as much as these conventional providers.
It’s a tough line to walk, and we ought to know: as a corporate video production company, we’ve worked on over fifty fintech productions for brands such as Zopa, Xero, Funding Options, and Divido – so we know how to make films for payment platforms, crowdfunding services, and challenger banks. We’ve learned a lot along the way.
Here are our key takeaways.
Story is everything…
…but don’t overcook it. A great many fintech companies, and tech companies in general, claim to have these quasi-messianic ‘missions’ (“We’re going to completely disrupt, destroy, and devastate the world of commercial finance”) but in practice, they offer a cool new spin on a conventional product that will make their customers’ lives a little bit easier.
That, ultimately, is the story of your video: what it does for your customers. If you absolutely have to do a whole spiel about how your founder was inspired to create the company after embarking on an ayahuasca-fuelled vision quest in the Amazon, keep it to the “About Us” section of your website. Fintech stories are most effective when they’re about the people who use your product.
Build sturdy foundations
So how do you tell these stories? Start by offering a logical structure for the video. We like to use a little technique we call “Pain, Claim, Gain, Proof” (we didn’t invent it, but we have nicked it from the guys who did and we are very grateful for that). Our Divido explainer is a good example of this technique in action:
PAIN – “Customers sometimes need help making large purchases.”
CLAIM – “With Divido, spread the cost over several months while the business gets paid in full right away.”
GAIN – “It’s a win-win. You can convert more customers and boost order values.”
PROOF – “It’s award-winning technology. Sales for customers typically increase by 20-40%. Don’t take our word for it, book a demo to find out more.”
There’s more to it, but using this technique does a lot of the work for you – and gives you more space to worry about the other features and benefits you can fit into the two-minute runtime.
Watch your tone
Rich coming from us, we know. Here, the issue of balance is again front-of-mind. You don’t want to adopt the stuffy, arch tone of a conventional finance provider, but you also can’t be too familiar; the technological graveyard is littered with the corpses of try-hard companies that thought they could be their customers’ best friends.
We hate to go on about Monzo, we really do, but the bank’s recently-released TV ad is an excellent example of the kind of tone you should be aiming for when writing a fintech explainer.
The emphasis is all-important here: the customers are the central characters and the agents of change. They’ve decided they’ve had enough, and they want something different. Monzo facilitates these wants, but the narrative doesn’t show the platform itself – it shows their desires being acknowledged and fulfilled. Even the comedy uses an appealingly light touch: the script as written isn’t particularly funny, but this sparing approach allows visual humour to take centre-stage.
It’s a minute-long masterclass in tone-setting and customer-oriented storytelling. Monzo even allows itself to be rudely dismissed at the end of the video – an appealing, self-deprecating moment that serves as an effective button for the video, and one that many companies would be too self-serious to ever consider.
Ultimately, it says what every fintech video should say: we’re here for you, the customer. You’re what matters. We’re some nerds who built a platform, and this platform can make your life slightly better in these specific ways. They don’t want to hear a long spiel about why high-street banks are bad; they don’t want to hear your origin story; they want to know what you can do for them.
In our experience, the difference between a good and bad fintech video is how clearly this purpose comes across.
If you got this far, you have to read our post on the top fintech publications.