Gathering Data that Links Lenders, Borrowers, and Opportunities
While it’s easy for customers to find banks, linking people with financial needs to the right types of financial services can be complicated.
Just knowing how to get to a bank isn’t enough for every customer. Certain businesses need to know which lenders are okay with their level of risk, and not every bank is equipped to fund millions or more for business purposes.
Personal loans of thousands or less are more manageable for most financial institutions, but customers with new or bad credit may be discouraged by big institutions that cover all of the advertisement space without giving bad credit a chance.
Investors are always looking for not only the next big thing but the systems and support structures that promote growth. You have to be in the right place at the right time, or listening closely to someone else’s success.
Social media is where almost everyone talks. Even if someone isn’t specifically asking for a service or bragging about success, certain trends and keywords can create a story worth acting upon.
Social media and artificial intelligence work together to look for keywords that are relevant to fintech businesses.
Better, More Personal Customer Management Platforms
More businesses are tying social media to business systems as not just part of their customer outreach, but a major way to handle customer accounts.
Potential clients can ask questions and sign up entirely through social media direct messages. Anything complex that can’t–or shouldn’t–be handled through social media can be delivered in private message via links to sites or apps.
This brings customers into the brand faster because it allows them to stay on their current platform. That is, rather than stealing people from other platforms, you’re tucking them deeper into their main platform and adding your own services.
The process makes it easier for people to discuss financial decisions, link their thoughts and concepts to shareable tweets and status updates, and makes information easier to gather with consent. Consent–and privacy–is becoming more important.
Social media makes it easier to both validate and violate privacy. It’s not just about leaking sensitive information after a hack; the act of gathering and analyzing social data is still pervasive to many, even if they voluntarily gave that information.
Social media and fintech come together to make the future of data analysis more personable and easier to opt into. Being careful about what you say online is important, but knowing that it’s fine to open yourself is helpful.