The trust tightrope – Why a fintech and DeFi PR strategy matters 

Alexandra Gil

By in Blog
On October 5, 2023


‘Lack of trust’ – a much-repeated phrase used to explain sluggish fintech adoption, often as an (inaccurate) shorthand for broader structural issues. 

The last few years have been challenging for the fintech sector. Public scandals, such as the U.S. Congress report on PPP fraud and the crypto winter of 2022, have eroded confidence in fintech due to perceived failures in fraud prevention and fee collection.  

But not all is lost. Recent events like the AI ‘gold rush’ of 2023 are set to boost various tech sectors, fintech included. What’s more, demand for open banking and mobile payment solutions continues to rise, and institutional interest in Bitcoin hints at a potential bull market for crypto in 2024. It’s important for fintech players in banking, blockchain, and beyond to prioritize building trust to capitalize on this growth.

Why trust matters 

Customers are increasingly skeptical of new fintech and DeFi providers, and given recent public scandals, they absolutely should be. With the storm of uncertainty that fintech has weathered in recent years, it’s crucial for companies to demonstrate trustworthiness. And no, celebrity endorsements won’t cut it anymore.  

Fintechs operate in an environment where security breaches, data leaks, and fraud can send shockwaves through the industry and undermine customer confidence. Similarly, for blockchain, crypto, alternative currency adoption, and investment to grow, establishing trust needs to be at the heart of the technology’s value proposition.  

Furthermore, we are now facing a challenging macroeconomic climate and it goes without saying that, in times of economic uncertainty, trust becomes even more critical. People are more likely to turn to traditional financial institutions when they are uncertain about the future. This could potentially cause fintech’s growth to stagnate if the trust issue remains unaddressed. 

During economic downturns, b2b fintech companies must communicate regularly and intentionally – meaning ahead of any potential crises – to reassure customers and investors. This includes providing insights into how the company manages risk, ensures liquidity, or safeguards customer assets.  

The fintech PR imperative: Building trust 

PR and integrated communications should serve as a linchpin in establishing and nurturing trust in fintech and DeFi. Here’s how PR plays a pivotal role in this process: 

Trust is the bedrock upon which fintech and DeFi companies build their success. In a landscape marked by technological disruption and economic uncertainty, PR is the bridge that connects fintechs with their stakeholders to help them navigate challenges, boost credibility, and foster trust.  

The time to start building trust for your brand was yesterday. But don’t panic – we can help get you on the right path with the right messaging, today.  

Schedule time to meet with the lorries at Money 20/20 in Las Vegas, October 22-25, 2023, by emailing me at or shooting over a message on LinkedIn.  

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