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Creating a successful fintech involves more than just algorithms and smiles

Whether it is ‘old-school banking’ or making use of the opportunities facilitated by fintech, gaining trust remains a central theme. As Brain Reeves, Factris CEO, writes: “Gaining people’s trust and loyalty isn’t easy; whether it’s a teenager looking to their parents for more freedom or a fintech company looking to finance small businesses, it really comes down to having specific reasons to believe in a positive outcome.”

Mr. Reeves goes on to add on to add: “Let’s just make one thing clear: people are loyal to things like communities and sports teams. They’re not as loyal to financial companies. So the reason a customer will choose a financial company is that the company offers the greatest advantage the customer, along with other reasons such as an easy application process or how the customer is made to feel about the company.”

Read the complete article about the future of SME financing by written by Factris CEO, Brian Reaves here

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