Does the industry have a trust problem, or is the bad publicity unjustified?
Over the years, the likes of Amazon, Alibaba, Uber, and Netflix have grown into massive companies spearheading their individual segments of the tech industry.
Now, some of them are moving into FinTech. Apple has launched a credit card on top of its payment solutions, Uber has initiated a FinTech initiative named Uber Money and Facebook has introduced a payment solution as well as spearheading the cryptocurrency project Libra.
Despite the clamour to invest in the sector, it has attracted its fair share of negative press in recent years. Fintech companies, including Revolut and N26 are taking a hit to their growth plans as trust issues appear to be having a significant impact. Indeed, the former chief executive of Worldpay – Ron Kalifa – is reported to be leading an independent review into Britain’s £7bn fintech sector. The review aims to evaluate the needs of Britain’s fintechs so that the State can ensure the sector’s “global reputation” is maintained and advanced.
On the 2 September 2020 at 1400 BST, Babel hosted a virtual panel event to discuss whether the industry has a trust problem, or whether much of the bad publicity is unjustified.
During the hour-long discussion speakers shared their thoughts on a range of issues, including when does an incident turn into a crisis, how can you manage a crisis once it arises, and how can the industry make up for love lost?
You can find the answers to those questions (and much more) in the recording of the event and in an accompanying whitepaper. If you would like to discuss how Babel could assist with your own communications requirements in the fintech sector, please let us know via [email protected].