In this growing technical world, every industry is grasping digital tools to withstand competitors. Now, the fintech and banking sectors have also come into the limelight, offering applications and platforms to their customers. But there is a problem:
Due to the featureful and complex interface, consumers are not adapting to it rapidly. So, fintech and banking applications and platforms are incorporating finance influencers to boost their marketing campaigns.
Did you know that 49% of consumers rely on influencer recommendations when making purchasing decisions?
By seeking the emerging trend, fintech and banking sectors are spending heavily on influencer marketing to skyrocket their platform's adoption. According to the report, 64% of global consumers use digital banking tools, and influencer marketing is a secret sauce for this evolving adoption.
As per the report, 42% of users don’t trust new fintech platforms as everyone has their hard-earned money, and no one wants to lose it. But when an influencer shares how they use your app to save, invest, or manage debt, it feels authentic—not promotional. Hence, the majority of banking apps and fintech platforms leverage influencer marketing strategies to boost their presence and adoption. Some famous examples are MobiKwik, Navi UPI, Paytm, PhonePe, and many others.
Finance influencers ease users' complexity while experiencing the application by showcasing tutorials and explaining features thoroughly. This builds trust and persuades users to download and use the platform.
Finance influencers offer promo codes, free cash, discount coupons, and more to incentivize users to download the application. A recent example is Navi UPI's fintech platform, which is investing heavily in UGC and influencer marketing ads.
Influencers do not just promote fintech platforms; they educate users about new financial products and services to help them plan and manage their investments and savings effectively.
Influencers are no longer just for fashion or lifestyle brands—they’re bringing positive impacts for fintech companies to build trust, educate users, and drive adoption. Moreover, fintech companies collaborate with influencer marketing company to partner with finance influencers and drive big campaigns.