From dry to dynamic: making finance resonate on social platforms

Natasha Kundaiker, Business Director at The Fifth, explores how jargon is alienating potential customers, and how to adapt tone of voice for social.

Bonds, equities, amortisation, ISA, compound interest, AER, inflation, crypto.

Still with me? Then consider this – why do banks still bombard consumers with financial jargon?

Research by Aviva found that seven in ten UK adults are puzzled by financial jargon. In an era when trust and accessibility are paramount, financial brands can no longer afford to appear overly corporate or distant. And this research proves that consumers are demanding clarity.

So, what can finance brands do?

The answer lies in social media. Think less dull, and more dynamic when it comes to your brand.

Overcoming risk without sacrificing creativity

It must be said before anything else, that for highly regulated industries like finance, social content can feel like a double-edged sword. Compliance concerns often lead banks to play it safe, but there is a balance to be struck.

To prepare, financial brands can create pre-approved templates that will keep them agile and allow them to respond to social trends. Additionally, to ensure transparency, clear procedures for influencer partnerships can support banks. In fact, the Financial Conduct Authority have issued guidance regarding financial promotions on social.

Importantly, rather than seeing financial regulations as a hindrance, it can be viewed as a unique opportunity to create fun, but compliant content.

A challenge?

Yes.

The reward?

Limitless with the right level of creativity.

Fintech brand, Monzo achieved this. Inspired by Spotify’s Unwrapped, Monzo created one of their most successful campaigns, ‘Year in Monzo’. By incorporating humour and engaging visuals to present customer spending insights, they transformed a traditionally dry data report into content their customers actively sought out. Subsequently, it sparked huge conversations among customers and engagement across social media platforms.

Monzo’s campaign demonstrates that compliance and creativity can coexist. Best of all it can lead to innovative content that improves a bank’s accessibility and perception. Fintech brands specifically have taken the angle of accessibility by storm and created a strong following with young consumers. According to McKinsey, Gen Z holds the biggest share of fintech users. This approach is more than a trend, it’s a competitive advantage.

The key to engagement: showing personality

Inaccessible and complicated financial language make banks feel intimidating to the average customer. To bridge the financial literacy gap, they must communicate with their audience in a language they can relate to and understand.

One way to achieve this is by responding to cultural moments. Barclays, for example, successfully leveraged TikTok content to explain how, global popstar, Taylor Swift’s concerts impact the economy. By using a major event in the entertainment sector, Barclays not only demonstrated cultural awareness but also showcased a fresh and relatable side to financial subject matters.

Beyond trend-driven content, showing the human side of financial institutions is equally important. Employee-generated content has become extremely popular and is one of the latest trends sweeping across social platforms. By tapping into the team’s voices and experiences banks can foster credibility.

Again, Barclays has done this well, by posting behind-the-scenes, employee spotlights and day-in-the-life content. This offers an authentic glimpse into the people behind the bank and helps to position them as approachable rather than intimidating.

Building trust through financial education

When it comes to finances, consumers value one thing more than anything: trust. This has taken numerous hits over the years, from financial crashes to the perception that banks put profit before people. However, social media has presented an opportunity to help rebuild trust through education.

Trends like FinTok have reshaped how audiences interact with financial content. According to Intuit Credit Karma, 52% of all UK adults reported that they are, or would consider, using saving tips from social media. Additionally, TikTok reported a monumental 373% rise in financial content on the app.

Influencers like Kia Commodore are leading this charge, simplifying complex financial concepts and offering tips on how to budget in today’s economic landscape.

Crucially, the demand is there – financial brands must step up to meet it. By working with influencers and producing digestible content, banks can be seen as more trustworthy.

Diversifying content across platforms

While TikTok has become a hub for financial education, (we should be careful to rely on it with the potential U.S. ban looming), it’s not the only platform where banks can make an impact.

Instagram remains a prime platform for lifestyle-focused, visually curated content. American Express is a good example of how financial brands can use this platform strategically. By leveraging its global consumer base, the bank collaborated with travel influencers to showcase exclusive airport lounges and cashback on flights.

Their approach doesn’t just showcase perks – it builds aspiration and community.

Yet, YouTube Shorts is a platform that I haven’t seen financial institutions utilise as much compared to other platforms like Instagram or TikTok. With 70 billion daily users, there is an appetite for creator engagement, and its quickly become YouTube’s best-known feature.

This offers a unique opportunity for banks to connect through diverse content. and spotlight authentic, personal narratives around customers financial journeys.

Now is the time for financial brands to expand their social footprint, experiment with platforms to create dynamic content and reach new audiences.

The financial brands that win

In a sector that requires trust to survive, financial institutions must prioritise accessible communications and meaningful engagement.

Ultimately social media is no longer just a marketing tool, it is a powerful force that can redefine how banks are perceived. Social media can bridge the financial literacy gap, improve customer education on how to use their money and show a more human side to financial brands.

The banks hiding from this opportunity do so at their own risk.

Innovate, educate and connect.