Technology is reinventing everything from banking to currency itself. But providing financial services at an international scale carries linguistic, cultural, and regulation-related challenges. How can actors in the global Fintech sector build trust with international clients? In this free e-book, our cultural experts answer that question.
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Fintech is a heavily regulated sector. This may lead growing companies to shy away from international expansion. You may think that the risks far outweigh the potential benefits. But, approached with the necessary care (and preliminary research), expanding globally could be one of the best choices your company has ever made.
Becoming a trustworthy name abroad isn’t easy. Attitudes towards your product (and Fintech itself) may vary across locales. But, with 45% of the world’s population being unable to access formal financial services, you could grow at an incredible scale. But, only if you go where you’re needed. And to go where you’re needed, you’ll need to learn where that is.
Diving into your target market, its regulatory framework, its culture, and the lifestyle of your potential customers is a necessary first step to understand if there’s product-market fit. And, as you probably know by now, communication is crucial to building your brand. One of the greatest competitive advantages of Fintech companies is making finances easier to handle, and easier to understand. Making complex concepts accessible to their clients lets them know you’re on their side, and there’s no small print to worry about. Educating your customers, being transparent, and talking to them in a friendly and personable tone is essential, both at home and abroad. You can win new markets through culturally appropriate communication
Regardless, you shouldn’t talk to your customers in the same exact way across the world. Just like you’ll need to adapt your product to local regulations, you’ll need to adapt your communications to local culture. Assuming that everyone speaks English and overlooking local communication styles is a guaranteed way to lose a market.
After more than 12 years working with the likes of JPMorgan Chase & Co, and Capital Corp Merchant Banking, we can share a couple of communication tips for the financial sector. In this free resource, our cross-cultural experts offer some key insight to help you plan for international growth.