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How Affiliate Partnerships Foster Trust and Credibility for Banking Customers

Caoimhe Ryan

Caoimhe Ryan

Affiliate Relationship Manager
  • Last Updated: January 31, 2024

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There’s a reason the financial services sector is one of the most highly regulated industries.

Customers not only trust financial institutions with personal data, but also with their hard-earned money. 

From a marketing perspective, this means that financial institutions have a responsibility to build trust and credibility within their brands.

Customers and prospects need to be able to trust the messaging they receive, and they’re far more likely to engage with a financial brand if they believe it’s credible. 

One marketing approach that can support these trust-generating efforts in the financial sector is affiliate partnerships.

In this post, we’ll share some insights on how affiliate marketing can help build customer trust in banking, as well as the tools that will set you up for added success. 

If you are a financial brand ready to kickstart your affiliate program, reach out to our team of experts and they’ll walk you through the process of getting started.

The Role of Affiliate Partnerships in Building Trust and Credibility

One of the core benefits of an affiliate marketing partnership is that you automatically get access to a pre-built audience.

And, because this audience already trusts the affiliate, they are likely to trust your brand.

By partnering with affiliates, banks can tap into this trust and credibility, gaining access to a new audience that they may not have reached through traditional marketing channels.

On the flip side, this means that you have to spend time identifying and selecting the right affiliate partners — ones that can be trusted to accurately showcase your financial brand and products.

Some important criteria to consider (beyond the performance of their content and past campaigns) includes: 

  • The overlap of their audience and your target audience
  • The alignment between your corporate values and their values
  • The type of advice and education the affiliate has provided to their audience in the past

This alignment will be vital when it comes to reaching the right audience and continuing to build trust and credibility with them.

This is where a curated affiliate network can help — especially one that specializes in the financial sector (more on this below). 

Where Compliance Comes In

The other element that’s important to consider when it comes to building credibility is compliance.

By remaining compliant with industry standards and regulations for marketing financial products, your brand can show up with even more credibility.

That said, as you enter into affiliate marketing relationships, it can be difficult to track whether your partners are also staying compliant — especially if you’re building a large network of affiliates and publishing partners. 

To stay ahead of potential non-compliance issues, it’s key to bolster your compliance monitoring efforts with technology that keeps track of all brand mentions and automatically identifies whether there’s a breach of compliance.

This will allow you to proactively remedy any concerns — even before regulators notice it.

Generate Trust and Credibility with Fintel Connect

As financial institutions look to generate more trust and credibility across their affiliate marketing efforts, they should consider adopting an affiliate marketing platform.

This suite of solutions should cover all the bases from vetting affiliates to monitoring performance and ensuring compliance — like we do at Fintel Connect. 

 

With Fintel Performance, for example, financial brands get access to over 5,000 financial publishers and affiliates.

Within the platform, users can easily choose potential partnerships and set the contract terms, all the while knowing that they’re working with trusted affiliates.  

Our reporting dashboard also makes it easy to evaluate the performance of any affiliate marketing efforts across multiple financial products, and optimize your efforts accordingly when it comes to deposit generation.

When it comes to compliance, Fintel Check was built to take the heavy lifting out of monitoring, finding, evaluating, and documenting fintech marketing activity — so that you can ensure customers and prospects are only ever getting the right information about your financial brand. 

Beyond rules-based monitoring capabilities, the tool facilitates widespread oversight, increases review accuracy, and gives teams much more comprehensive transparency on partner activity.

This way you can be sure that your trust and credibility isn’t being compromised by your partners. 

Working together, these solutions remove a lot of the burden from your marketing team, allowing them to operate knowing that the partnerships they make will build additional trust with your existing and potential customers.

 

At Fintel Connect, we’ve built affiliate partnerships with over 5,000 financial publishers, including GoBankingRates, Bankrate, Nerdwallet, and PYMNTS.

Speak to one of our specialists and learn more about how Fintel Connect can help you build relationships with these brands.

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