What is marketing compliance?
New technology, more channels, and the constant changes in consumer privacy and regulations are all elements that undeniably make marketing more challenging than ever for financial brands—and marketers.
Marketing compliance watches over financial institutions’ marketing, content, and advertising, to ensure the rules and regulations set by government agencies are being followed, with the main goal of protecting consumers.
This control is done across channels, which means that from emails, web, chat, social media, and even printed material, all brand content needs to stay consistent with internal and external regulations.
How to ensure your marketing is compliant?
Managing the compliance of your own marketing content can be challenging, and this is amplified when you’re partnered with various external affiliate marketing partners that may not be as well-versed with compliance needs. Without full oversight of your marketing, the safety of your brand and your customers can be at risk.
A task done manually has now been taken over by automated tools, which reduces the time marketers and compliance teams spend analyzing and reviewing content across channels. Compliance softwares, such as Fintel Check, can help financial brands grow safely and stay compliant.
Our AI-driven content monitoring and compliance tool, designed specifically for the financial industry, protects your brand, and keeps your content and partners compliant, ensuring your brand is promoted exactly in the way you want wherever it is.
Monitoring your compliance
A financial services compliance management software should work with all your partnerships, social campaigns, and marketing assets so compliance teams can get an overview of everything content-related across channels. Investing in an automated monitoring tool will help brands get a clear picture of critical assets like changes to interest rates, adherence to brand usage guidelines, disclaimers, and more.
If you have a platform that allows financial institutions to keep records in a safe place that’s even better, as compliance teams will be ready for any auditing requirements.
Next steps to implement marketing compliance
Integrating content compliance into their strategy is no longer an option, it is critical to avoid shortfalls. What’s more, data shows that being content compliant improves customer experience—and keeps marketing and compliance teams happy. If you haven’t started yet, here’s a list of next steps that can guide you:
1. Be clear and concise
When creating content, make sure you’re being specific. You don’t want to confuse potential customers and modern buyers don’t engage with unclear information.
2. Remember the disclosures
Nobody likes to be tricked. Make sure you’re being transparent with your messages across channels and all product disclosures are stated on the document.
3. Automate processes
An easy way to avoid compliance issues is by automating messaging. For example, when sending emails. Once your mailing objective and copy are established, automate your mailing campaigns, and update them when necessary.
4. Work with the right technology
Adopting technology for monitoring, scanning, identifying content issues, and automating processes can help your teams ensure your brand is acting within regulations. Transparency is key when talking about compliance, so make sure you have the right tools to safeguard your brand’s guidelines and government regulations when being promoted.
Fintel Connect enables your business growth by offering partner marketing, tracking and analytics, and content compliance solutions specific to the financial industry.
Scale your brand’s new customer acquisition and keep track of your marketing.