Building trust as a fintech: The three C’s

One of the biggest challenges you face as a fintech is gaining the trust of your customers. After all, fintechs deal with people’s livelihoods: their cash, credit, savings and assets.

Convincing people to trust you with their money is hard. Customers will Google you with an added layer of skepticism, ready to jump ship as soon as they doubt your credibility. This is why it’s overwhelmingly important for fintechs to invest in building trust, which, I think, comes in a constellation of three C’s: credibility, collaboration and customer experience. Credibility earns trust, collaboration bolsters it, and customer experience builds the ultimate form of trust: loyalty.


The first thing a potential customer will do is research your company, so it’s essential that your online image is up to scratch. Your website should be clear, informative and not overly salesy – no one trusts a pushy or spammy landing page. Transparency is also a major pillar of credibility. Be honest about your product and pricing. Featuring photos of the team is a great way to add a human face to your brand.

Positive, legitimate third party endorsements are gold dust for fintechs. Testimonials from happy customers will sway a potential customer more than the most detailed FAQ about privacy. Be sure to share links to press coverage, too.


Collaboration is king. One of the benefits of a healthy fintech ecosystem is an amazingly colourful community to get involved with. There are a million ways to collaborate – like speaking on panels, holding networking events and sponsoring hackathons. Engaging with policymakers is good for strengthening credibility and is an opportunity to talk regulation.

For instance, TransferWise are a shining example of public affairs done right. Their campaign against hidden fees in international transfers made them visible to a huge portion of potential customers.

Customer experience

The fintech industry is booming because fintechs are great at taking one function of a bank (e.g. international money transfer or small business loans), refining it and making it brilliant for customers. In fact, research shows that 50 per cent of consumers are more likely to recommend a fintech product to their family and friends than one from a big bank. And while fintechs may lack corporate familiarity, they make up for it with flexible, intuitive, and friendly user experiences that are superior to the clunkier apps.

Customer experience is a fintech’s battle ground. Be victorious by providing a sleek UX and UI, delivering personal, high quality customer support, and producing useful, original content that’s relevant to your customers. Get creative – use your knowledge to create blogs, white papers, podcasts and webinars.

Ultimately, the ingredients of a great fintech are a brilliant product and exceptional customer service. Credibility is important to win a new customer’s trust, but what really matters is maintaining that credibility through a transparent brand that delivers an incredible service.

This article originally appeared on The Dublin Tech Summit blog. Jens discussed this topic on a panel earlier this year.

Jens holds a degree in industrial engineering from the Technical University of Berlin and studied economics at Cass Business School. He worked as a consultant for McKinsey & Company for more than five years, where he focused on the commercial banking sector. Working for major European banks, Jens experienced the outdated approach these banks took towards working with SMEs. He co-founded Spotcap after seeing an opportunity in the industry: to use technology to change the SME banking landscape.

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