Reclaiming the narrative: How content can help legacy financial brands regain control

As a legacy financial services brand, you’re facing a perfect storm. Fintech’s rapid coming-of-age has raised the bar for customer experience, while intensifying regulatory scrutiny and compliance demands have heightened the stakes. And to top it all off is a crisis of trust: with customers increasingly seeking transparency, seamlessness, and security, how can established players restore their credibility and relevance in a world where instant gratification and hyper personalization are the new norm?

The answer lies in part with content. We’ve seen time and time again the role that content can play in rebuilding trust, establishing reliability, and forging deeper–and more distinct–connections with customers.

By delivering high-quality, engaging, and informative content, financial institutions can bridge the gap between their heritage and the evolving needs of their customers, ultimately re-establishing credibility and trust in a way that new disruptive brands cannot.

Balancing compliance with creativity

Navigating today’s FSI challenges can feel like steering a ship through ever-changing tides. Complex regulations addressing financial stress, geopolitical tension, cultural challenges, and regulatory hedging keep shifting. This new administration is supportive of blockchain and cryptocurrency, while outdated regulations for data storage, consumer privacy, and cybersecurity act like unwanted anchors, slowing down efforts to innovate new technologies and meet modern expectations.

In an effort to minimize risk, many financial institutions have taken a cautious approach, which has resulted in a lack of creativity and authenticity in their marketing efforts. But striking a balance is critical.

Rather than shying away from the challenges of compliance, consider embracing them as an opportunity to showcase your expertise and build credibility with your audience. By creating educational content—such as blogs and newsletters—that addresses regulatory changes, market shifts, and other topics relevant to your audience, you can demonstrate that you’re listening and you understand their needs and concerns.

For example, Sherwood Media publishes Snacks, a daily markets and business newsletter, breaking down the relevant financial news of the day for their audience with a sharp but approachable editorial voice that helps them stand out from the crowd. What they don’t have? Over a century’s worth of experience and expertise.

Leveraging individual voices to regain trust

The 2024 Edelman Trust Barometer found that just 64% of consumers trust the financial services industry, making it one of the least trusted industries in the world. A study by Financial Brand further emphasized the importance of trust, with Millennial and Gen Z customers ranking it as their top priority when choosing a financial services provider.

So, how can content help rebuild consumer trust in a market plagued by financial crises and security concerns? The answer lies in creating a long-term strategy that focuses on credibility, thought leadership, and personal perspectives

Once you’ve regained customer attention through credibility-building content, consider launching a flagship content series, such as thought leadership or trend forecasting reports. Rebuilding trust takes time, so by consistently delivering valuable and thought-provoking content, your brand can build a loyal following and foster trust among its audience. This, in turn, can lead to increased brand loyalty and a shift in perception of your brand in the market.

At the end of the day, people trust people. Adding a human face and voice to your brand is crucial in establishing trust–especially in an age where 50% of consumers are cautious of AI-generated content in the financial services industry. To take it a step further, consider implementing a team-wide thought leadership strategy, showcasing the expertise and perspectives of multiple team members.

Finally, make sure that your thought leadership content is visible on the channels where your target audience spends most of their time. Atomizing your content to demystify complex concepts on social media can help establish a trusting relationship with your customers, demonstrating your authenticity and increasing transparency. Even industry giants like Blackrock are using platforms like TikTok to provide trusted, educational advice to a new generation.

Revisiting the human-centric values of innovation

Unlike their tech-savvy and more agile disruptors, legacy firms have been historically slow to integrate tools, innovate new technologies, and adopt new ways of working. This has resulted in a gap between customer expectations and the seamless, intuitive experiences they demand across channels.

But legacy firms have a unique advantage: access to vast amounts of data. By leveraging this data to understand their audience’s needs, desires, and pain points, you can create thoughtfully designed content experiences that demonstrate a deep understanding of your customers—and where appropriate, even deliver hyper-personalized content. This approach showcases innovation, while also building trust and credibility.

To achieve this, consider combining three key elements:

1. Audience insight: Develop a deep understanding of your audience’s online behavior, preferences, and motivations.
2. Channel expertise: Stay up-to-date with the latest features, trends, and best practices across various channels and platforms.
3. Content design: Apply the principles of design thinking to create interactive content experiences that are intuitive, engaging, and tailored to your audience’s needs.

By embracing this human-centric approach, legacy firms can demonstrate innovation without relying solely on technology. Instead, they can focus on creating meaningful and memorable interactions with their audience.

As the financial services landscape continues to evolve, legacy institutions must adapt to remain relevant. By prioritizing content that showcases expertise, thought leadership, and a human-centric approach, legacy brands can build a loyal following and foster trust among their audience.

As we look to the future, it’s clear that content will play an increasingly important role in helping legacy financial brands regain–and maintain–control of the narrative.