Why brands should act on fintech partnership opportunities
- Written by Yana Bogina on
What is fintech? And what advantages does it offer to brands? We dig into this #AwinningPartnership opportunity and the benefits to Awin advertisers.
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What is fintech? And what advantages does it offer to brands? We dig into this #AwinningPartnership opportunity and the benefits to Awin advertisers.
Financial technology or ‘fintech’ defines any software or solution used by businesses to enhance or automate financial services and processes (think mobile banking, insurance, cryptocurrency and investment apps). As one of the fastest-growing models in the world, experts estimate the number of individuals using fintech services increases every year by 15-20%.
Even if the term fintech is unfamiliar to you, tens of thousands of consumers are developing long-lasting relationships with these companies daily. This is because fintech businesses offer customers unique, value-added solutions to spend and invest their money. Fintech players are also agile, creating their own or using third-party innovations to modernize traditional financial services that simplify processes.
After a tumultuous 2020, digitalization of ‘offline’ services to make life easier has become even more important to consumers. Fintech is key to this. At Awin, fintech publishers are becoming increasingly popular across all advertiser verticals – having generated 3x more revenue for brands in 2020 than 2019 – thanks to simple tech integrations, first-party data targeting and increasing consumer use.
The fintech affiliate landscape is made up of a wide range of different solutions and #AwinningPartnerships:
All the fintech publishers mentioned (and more) use affiliate marketing in at least one of three different ways to drive revenue, sales, and customer acquisition for advertisers: by setting up a loyalty platform like Klarna or Affirm; in offering automatic switching to reduce the cost of when you move services (think insurance, broadband internet, smartphone subscriptions) like Dyme; or utilizing contextual targeting like Revolut.
“By combining mobile-first user experience with richly integrated open-banking services, fintech disruptors have unlocked new value for both the consumers they serve and brands they partner with. In the past year alone, Awin has seen new fintech entrants rapidly forge partnerships and deliver millions in sales revenues, all on a pure performance basis. Best of all, unlike traditional financial services providers, fintech companies over-index with hard-to-reach gen-Z audiences.” James Bentley, Awin UK Strategy Director
As you can see, fintech partnership opportunities are abundant and continuing to expand. Outside of its rapid and diverse growth, there are a host of benefits for Awin advertisers incorporating fintech publishers into their affiliate mix:
As an added bonus, many fintech publishers will partner with advertisers on a traditional CPA basis so you won’t have to create a custom commission structure to work together. What’s more, these affiliates are actively looking to expand their Awin advertiser partnerships in 2021 and beyond to offer their customers a broader range of personalized products and services.
“Fintechs can outmaneuver traditional banks by providing innovative products, allowing customers to engage with brands in a sleek and comfortable experience. Additionally, fintechs are flexible enough to provide the in-depth reporting needed to ensure successful campaigns for both parties. It is not a secret that fintechs are rapidly becoming the everyday solution people use to manage their finances. So why not consider integrating directly within customer's wallets?” José Maria Barreiros Cardoso, Key Partner Developer at Revolut
To dig deeper into one exciting Awin fintech publisher opportunity, check out our recent spotlight on Klarna.
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