How Fintech Brands are Building Communities

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How Fintech Brands are Building Communities

A certain community is created around every industry. These communities are unique and necessary for, among other things, reaching a larger audience. They serve as platforms for knowledge exchange, idea generation, and skill development, nurturing a fertile ground for professionals, enthusiasts, and stakeholders to connect, learn, and flourish.

What is a community?

How Fintech Brands are Building Communities

Recently we started to create a Report. We checked 200 FinTech companies from all around the world. The most popular platforms for building the communities were:

1. GitHub

GitHub is a place where people work together on computer code. It’s like a big virtual office for software developers. For fintech communities, GitHub is where people who are interested in finance and technology share their ideas and work on projects together.

2. Discord

Discord is an app where you can chat with others using text, voice, or video. It’s used for talking about different topics, including fintech. Fintech communities on Discord use it to have conversations in real-time, share what they know, and learn from each other.

3. Slack

Slack is a messaging app for teams. It works very similar to Discord. Slack is just like a digital office where people can talk to each other and share files. In fintech communities, Slack is where professionals and enthusiasts talk about finance and technology topics. They have different chat groups for things like blockchain, AI, and investing.

4. Stack overflow

Stack Overflow is a website where people ask questions and get answers about programming and tech stuff. Even though it’s mostly about coding, there are discussions about fintech too. People in fintech communities use Stack Overflow to ask for help or share their knowledge about things like trading algorithms or data analysis.

5. Quora

Quora is a website where people ask questions and get answers about all kinds of topics. In fintech, it’s a place where you can learn about finance and tech from experts and other users. Fintech communities on Quora share information, ask questions, and discuss things like market trends and investment strategies.

Tips on how to build lasting fintech community

1. Give people a reason, a purpose to gather around and gather for

In fostering a lasting fintech community, providing individuals with a compelling reason and clear purpose to come together is paramount.

Whether it’s a shared passion for revolutionizing financial services, an opportunity to exchange innovative ideas, or a platform to collaborate on cutting-edge projects, giving members a tangible reason to gather fosters a sense of belonging and commitment.

By articulating a common mission or goal, such as driving financial inclusion or advancing technological solutions, you not only attract like-minded individuals but also cultivate a sense of purpose that sustains engagement and encourages active participation within the community.

2. Promote interaction

People don’t just join communities for the content; they’re looking for connections with others. Encouraging interaction creates a sense of camaraderie and strengthens the bonds within the community. Rather than resorting to clichéd methods like asking for selfie videos, aim to spark genuine conversations.

Here are some effective ways to promote interaction:

  1. Share your own personal stories or experiences and invite others to do the same. This can kick-start discussions and encourage others to open up.
  2. Encourage members to share their stories and experiences. This not only fosters engagement but also helps in building a diverse range of perspectives within the community.
  3. Make it simple for people to interact with each other, whether it’s through one-on-one conversations or group discussions. Providing platforms and tools for easy communication facilitates organic interactions and strengthens community ties.

3. Speak The Language Of Your Community

The foundation of any community rests on its founder. As the primary member, you should deeply understand the mindset, behaviors, and emotions of potential community members. This understanding enables you to anticipate their needs and provide genuinely valuable services.

Drawing from my experience in establishing a community of independent consultants, I found it advantageous to share a similar background. Being a consultant myself, I intimately grasped the challenges they faced, allowing me to contribute personal insights to our discussions.

While each community is unique, effective community management requires adaptability. Regardless of the community you’re building, it’s essential to communicate in a way that resonates with its members. By speaking their language, you position yourself as a trusted advisor rather than merely a service provider, fostering respect and rapport within the community.

4. Foster a sense of belonging

Creating a sense of belonging is crucial for any community. Members should feel like they’re part of a bigger picture and have found their rightful place within the group. Achieving this involves facilitating interaction, embracing inclusivity, and celebrating diversity.

What can you do?

  1. Ensure everyone feels welcomed and included right from the start. It may sound basic, but many communities overlook this essential step, causing some members to feel left out.
  2. Encourage active engagement among members. By promoting interaction and fostering connections, individuals can forge meaningful relationships within the community.
  3. Initiate discussions that bring together individuals with shared interests. This not only facilitates bonding but also creates spaces where members can find like-minded peers to connect with.

5. Encourage Connections Within Your Community

Actively promote networking and relationship-building within your fintech community by organizing meetups, networking events, mentorship programs, and online platforms where members can connect, collaborate, and share experiences.

By facilitating meaningful connections and fostering a spirit of camaraderie, you strengthen the social fabric of the community and enhance its resilience and longevity.

A prime example of this principle in action is GitHub, where individuals collaborate in real-time to create and improve code, exemplifying how shared goals and mutual support can drive collective progress

6. Be transparent

Transparency is a cornerstone of effective community building. Members need to trust that you have their best interests at heart and that you’re honest and forthcoming with them. Achieving transparency involves being clear about your intentions, sharing information openly, and actively listening to feedback.

Here are practical ways to demonstrate transparency:

  1. Clarify your intentions for the community right from the beginning. Whether it’s a peer-oriented space or a platform for sharing content and driving sales, be transparent about your goals. Failing to do so can erode trust among members who joined with different expectations.
  2. Share information openly and honestly, without hiding behind paywalls or gated content. Transparency means providing access to relevant information and fostering an environment of openness and trust.
  3. Be responsive to feedback from community members. Actively listen to their suggestions, concerns, and criticisms, and be willing to adapt and make changes accordingly. This not only demonstrates transparency but also shows that you value the input of your community.

Fintech communities

If you want to build a FinTech Community for your company we are here to help you. Contact us, and we will create a tailored plan for your company, helping you reach a specific audience for your product.

Author

  • Zuzanna Macieszko

    Content Creator with a deep passion for Public Relations, new technologies, and traveling. I find joy in bringing creative ideas to life and have been actively involved in various projects to date.

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