Defining the new normal: fintech’s part to play

fintech's part to play

If necessity is the mother of invention, then it is fair to say that disruption is the mother of reinvention.

Our clients all share a common faith that in using technology to enhance existing business processes, they can help businesses do what they do, better. A simple philosophy, but one which has been much harder to achieve in practice, due to well-established legacy systems. The past six months have highlighted the clear need for businesses to operate more efficiently, whether that is internally, or in how they deliver their product or service to the outside world.

The broader theme of digital transformation has long been heralded as the answer to higher growth, new revenue streams, and a better bottom line. But the case for adopting technology and digital transformation is now inarguable. Fintech just so happens to be the sector that can boast the most investment, research and experimentation with how technology can achieve this.

Although there is no knowing how the rest of the year, or even the next, will unfold when it comes to business as usual and what that looks like, there is a unique opportunity to reshape the status quo and look to fintech as the future. This will mean continuing government support for the sector, cross-company collaboration from both incumbents and challengers to define new regulatory frameworks and a greater mouthpiece given to the fintech companies that have the most experience and knowledge to share.

So, as we continue to define the ‘new normal’ and industries work to consider what that means for them, one thing is for sure: technology is the answer, and it isn’t going away anytime soon.

Chatsworth was the first communications agency to focus on fintech. We’ve been building fintech reputations for 20 years, steering start-ups through launchgrowth and onto corporate action, and protecting and enhancing established infrastructures.

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