Fintech innovations for Banking industry

Financial companies are investing more & more in digital or marketing technologies: email delivery, content management systems, with a focus on a specific market audience & printed fund information, factsheets for some investors.

This concerns especially the insurance firms, retail banks, payment/credit cards companies. Why are these particular branches seeking new marketing strategies? It is very simple: these sectors need to understand better their customer needs & expectations.

All these tools will help the financial companies to take the content to the right audience through social media. Event management will also be a very helpful tool to improve brand sentiment & extend the client network. Having a strong network of contacts will therefore be very useful.

Besides, crisis/business communications are particularly important in the financial industry. These communication tools help the companies to build long term relations with stakeholders & to see where their market is the best positioned.

The financial industry essentially facilitates loans, investments, asset safeguarding, conversion etc. It is the aim of the marketing sector to make it be understood by the audience. This sector can influence the volume, quality of content used online to convert prospects to clients or to reach any customer expectation.

Marketers are nowadays focusing more & more on all changes in the financial industry, due to geopolitical events & on emerging markets. As many businesses have to be re-positioned communication is now more than essential.

Communication will be used in new strategies & to target new audiences. Besides, B2B financial services side are more & more linked to social media. Indeed social media increase loyalty for any long term relationship in the financial sector.

How do Big Banks adapt ?

- 1/3 of Goldman Sach's employees are now enginners (it represents 11 000 ones).

- Thousands of clients are using their IT technologies such a :

1) Messaging platform Symphony : an online peer-to-peer lending platform

2) Marquee : an « app store » that lets Clients use its internal trading a modelling tools for a fee.

- More than 50 % of senior Bankers spend more on IT in 2014.

- Financial Firms try to understand their strenghts & failures.

Aurelie Delaleu

Sources

http://thefinancialbrand.com/directory/social-media-firms/

Bitcoin works with the help of a blockchain system:

The blockchain is an automatic IT system of IT programs or database constantly verified throughout the network & distributed over shared non centralized computers.

Thanks to this IT shared newtwork, it is possible to record transactions between professionals or retail customers in a very secure way.

This reduces administrative or infrastructure costs. It is the blockchains that enable the creation of bitcoin, a virtual currency.

Bitcoin is not recognized by central Banks but widely used and replacing bankers & their books of account. Indeed, the client signs with a private key that encrypts the transaction & authenticates it with a public key.

Each transaction is tamperproof, & added after verification of its integrity in the computer network blockchain. The least single midification on 1 of the nodes in the network is immediately located. The blockchain is actually identical on all shared computers.  

The ethereum platform has a programming language that allow professionals to write complex contracts & to later unlock funds under certain conditions. So the new sharing financing platforms such as WeiFund & Chroma.

Fund which use this software can collect a future profit part of the company they support.