NEWS21 June 2018

IFF Research launches Fintech community

Finance News UK

UK – Market research agency IFF Research has established an online community of digital-only bank customers called Fintech Beacon.

Designed to gain better understanding of digital users in financial services, this qualitative community will give companies wanting to enter, or already part of, the fintech sector insight into these niche customer segments.

It currently has 66 members, ranging from students and young professionals to mature investors, who use a range of digital-only and robo-advice financial services. 

The company said it had received an influx of briefs from businesses, including digital-only banks, peer-to-peer investment providers, robo-advisors, analytics and crypto-currency fintechs, with many of these new players needing to better understand their target customers to refine and improve their marketing.

Georgina Clarke, director at IFF Research, said: “At the moment there is limited understanding about how customers are weighing up these different companies, and traditional providers can only speculate as to why their own customers are using these new fintech services alongside their products.

“There is some interesting interplay between established providers and new entrants in customers’ minds.”