Telum vox pop: Trends and opportunities in the digital financial service landscape

Telum vox pop: Trends and opportunities in the digital financial service landscape

With Hong Kong FinTech week in full swing, we spoke with two more comms professionals, BC Group's Director, Investor Relations and Public Affairs, Dan Simon and Quantifeed's Marketing Manager, Rachel Liu who shared their views on the challenges and opportunities communicating FinTech products and what communicators can do to create a sense of security for online financial services.

Has the increased competition between different FinTech service providers lead to more challenges or opportunities to communicate around these products?

There are now more opportunities to communicate around FinTech products as a result of increased global interest in the different verticals in the space. We’ve also seen a number of high-profile investment funding rounds that have grabbed media headlines.

How can comms professionals help translate the sense of security people want when it comes to online financial services?

Although consumers are empowered to select services based on their personal needs, comms professionals in the FinTech industry have a responsibility to create and distribute educational information. It is our role to help them understand not only the benefits but more importantly the implications of the services they are choosing to participate in. In the long run, this can lead to a generation of better-informed and digital-conscious customers, while also building brand loyalty for FinTech companies.

As regulation officials are looking into emerging FinTech companies that want to settle in Mainland China, how might the scrutiny impact FinTech opportunities in Mainland China?

Regulations and scrutiny have always existed for a complex market like Mainland China. For FinTech companies looking to enter and grow in the market, a well-defined and localised proposition is critical. It is also important to understand the market and existing competition to be able to withstand any potential scrutiny and policy change, and also to scale and achieve success in the long run.

What are some upcoming FinTech trends and opportunities in the digital financial service landscape?

The digital asset (crypto) space continues to expand at an exponential rate. Decentralised finance (DeFi) in particular can be expected to grow for the foreseeable future. Related to this is so-called “meme investing,” which is another trend that has gained steam recently.

During the pandemic, we witnessed the rise of many B2C digital investment services companies. As customers become more aware of their financial options and opportunities, the next area of growth we are seeing already is the emergence of digital wealth management services, that not only facilitate stock trading but provide a personalised journey based on customers’ long-term financial goals. And of course, another big opportunity for the Hong Kong FinTech community will be further expansion into the Greater Bay Area with the upcoming Wealth Management Connect Scheme.

In case you missed our first FinTech vox pop, click here

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