Why Technical Writing Is Important in FinTech?

In the FinTech industry, clear communication is essential. Technical writing, which simplifies complex financial and technical ideas, plays a crucial role. It ensures everyone understands how FinTech works, follows rules, and improves user experiences. Let’s explore why technical writing matters in FinTech and what makes it so important.

What is Technical Writing?

Technical writing means explaining complex information in a simple and clear way. It’s about making difficult topics easy to understand by giving clear directions, instructions, or explanations.

This type of writing is done by technical writers who create and share technical information in professional contexts. Their main goal is to communicate this information as clearly and effectively as possible.

Many industries need strong technical writing skills, including finance, IT, manufacturing, energy, consulting, medical fields, and engineering.

However, technical writing extends beyond these areas. In today’s information age, delivering clear instructions or information to the intended audience is crucial. Technical writers are found in diverse fields such as software development, academia, government, broadcasting, transportation, telecommunications, healthcare, security, publishing, and more.

Technical Documents

Technical writing represents the largest part of technical communication. Technical writers collaborate with editors, designers, developers, and analysts to create various types of technical documents, including:

1. Instructions & Procedures: Detailed steps to guide users on how to perform specific tasks or operations.
2. Manuals: Comprehensive guides that provide information on how to use, maintain, or troubleshoot products or systems.
3. API Documentation: Technical content that explains how to use and integrate with Application Programming Interfaces (APIs).
4. Descriptions: Concise explanations of products, features, or processes.
5. Case Studies: In-depth analyses of real-world examples showing how products or services were used effectively.
6. White Papers: Authoritative reports that provide detailed information on complex issues, often used to inform and persuade.
7. Specifications: Detailed descriptions of the requirements, design, and functionality of products, systems, or components.

Why is Technical Writing important in FinTech?

Technical writing is really important in FinTech for a few key reasons. Firstly, it helps explain complicated financial and technical stuff in a way that’s easy to understand, which is great for users and for following rules.

Clear instructions and guides also help people learn about what a product does and how to use it, making their experience better. Plus, it helps manage risks by laying out all the steps and rules clearly. It also makes teamwork smoother and gives a handy guide for fixing problems.

And overall, it ensures everyone involved knows exactly what’s going on with the product, making things run smoothly and keeping everyone in the loop.

Key Principles of Technical Writing in FinTech

The primary goal of technical writing is to deliver instructions and messages in a manner that readers can understand and implement the information effectively. Here are some rules to follow when working as a technical writer:

1. 10/100/1000 Rule

Follow the 10/100/1000 rule: the most important information comes first (top ten pieces), followed by explanations (the top ten pieces for each of the top ten), and then detailed references to additional helpful information (supporting information explaining the concepts behind the facts).

2. Consider Your Audience

More importantly, be very clear about your audience and imagine a time when you didn’t know the material. Carl Sagan advised imagining a time when you didn’t know the material in question very well. Think about what didn’t make sense and what you wish someone had explained first. Then, determine what constitutes success. For example, learning the syntax of a function without understanding its purpose is a failure. Imagine what the reader needs to know to accomplish a task successfully.

3. Use General Principles, Examples, Illustrations

Utilize general principles, examples, illustrations, and problem sets or exercises. Don’t settle for just one; incorporate all of them. Present extended examples alongside stated principles, and ensure principles are not provided without examples. Use every means at your disposal to communicate effectively, leaving no stone unturned in your quest to find the perfect explanation for the reader.

4. Writing in a Simple Style

Use short, simple sentences.

Try to make every sentence in the active voice. If, occasionally, you struggle to phrase a sentence in the active voice, it’s okay—but avoid defaulting to passive voice out of habit.

• Incorrect: The levels must be checked before the process is started.
• Correct: Check the levels before starting the process.

Write in the present tense unless something inherently refers to the future.

• Incorrect: If the levels are too low, the process will not start.
• Correct: Low levels prevent the process from starting.

Default to using the imperative mood. It’s generally acceptable to use the second person, but avoid excessive use of “you.”

• Incorrect: You must put your key in your security transponder before you drive your car through the gate.
• Correct: Put the key in the security transponder before driving through the gate.

Follow a style guide—typically the Chicago Manual of Style in the U.S..

5. Conduct Usability Testing

Use participants as a representative sample of the user audience to test the documentation. Monitor and take notes to identify areas where the documentation works well and where it needs improvement. Clearly communicate to participants that the documentation is being tested, not the participants themselves. Regardless of one’s expertise as a technical communicator, usability testing is essential for ensuring effective documentation.

6. Revise the Documentation until it Functions as Intended

Technical documentation may appear satisfactory and receive approval from managers who are not end-users, yet still fail to meet its intended purpose. This highlights the importance of having training departments or customer/technical service available to address issues that could have been prevented with thorough documentation.

Technical Writing in FinTech

As FinTech keeps changing finance, good technical writing becomes even more important. It’s all about making sure people understand what’s going on and can use FinTech services easily. By sticking to some basic rules and staying flexible, technical writers help FinTech grow and succeed. If you need any help with your technical writing, feel free to contact us.