1. The FinTech market is changingChange in consumer behaviour is being fuelled by technology

2. The FinTech market is changingThe financial services market is becoming more competitive with moretraditional and non-traditional entrants 3. The FinTech market is changingDamage caused by the crisis, bonuses, Libor and other issues must be repaired 4. The FinTech market is changingComplex regulations are forcing financial institutions to make major changes 5. What does this all mean? To meet these challenges financialinstitutions are investing in technologyto: Reduce costs Introduce new products Improve customer experience Comply with regulations Enhance security Global bank IT spending is to set to rise 19.9% and hit$150 billion in 2018 - OvumThe FinTech market is growing 6. Challenges facing FinTech vendors The market is crowded and it is difficultto stand out Decision making is consensus involvinglots of individuals Sales process has become more lengthyand complexVendors are turning to marketing tosupport sales, but most aremarketing blind 7. Whats missing?Hard evidence about how financialinstitutions identify and selectvendors during the sales process: What influences them? What information do they wantabout potential vendors? What information sources do theyvalue? Does this information changeduring the stages of the RFXprocess? 8. So we decided to find out 9. Size & frequency of tech investments2% 2%3%6%5%2%3%2% 2%3% 3%2% 2%6%2% 2%5%3%2%3%5%3%2%3% 3%2%3%2% 2% 2%8%2% 2% 2% 2%3%13% up to$100,00030% $100,000 up to$1m44% $1m up to $10m21%$10m + The highest value IT investment in the last 12 months averaged at $7,273,000 Major technology purchase more than once every six months 10. Number of decision makers 52% of IT decisions involved ten or more people Average number involved is 36 people 15% involved 50 or more people48%26%8% 2% 6%15%1 - 10 11 - 20 21 -30 31 - 40 41 - 50 50 + 11. What influences longlisting?Trusted advice is critical for getting on abuyers radar through either visibility withanalyst or peer/consultant networksContent is king! Whether it is boostingSEO ranking, underpinning a whitepaperor webinar, or driving prospect and mediainteractionsAdvertising isnt credible enough andnational/social media dont provideenough depth 12. What influences shortlisting?Understanding of and ability to meetbuyer needs is essential. Thoughtleadership is critical, and quality overquantity builds reputationDelivering unique insight that challengesthe buying audience and build credibilitythrough third parties are importantAt this stage its about explaining why thevendor is different over proving it is.Evidence becomes more important at thenext stage. 13. What influences purchase?Respondents were asked to provide the three most important influences in thepurchasing decision.Value26%Service support16%Efficency ofimplementation13%Quality9%ReputationService offering12%10%Other14% Its not surprising that at this stageof the selection process, valuebecomes the most significant factorDecision makers now want to seehard numbers and deliverablesUltimately, they are looking forevidence that the vendor can dowhat they say they can 14. What information isnt available?When asked what information FinTechbuyers do not receive, but would like, theareas identified are again evidence-based: Evidence that the vendor hasexperience in delivering to similarcompanies Customer references and case studies Industry feedback Demonstrable track record 15. Positioning for 16. Key takeawaysWhats important during longlisting? Internal business analysts NetworkWhats important during shortlisting? Reputation Unique insight CredibilityWhats important during purchase? Hard evidenceWhat isnt a priority? National & social media Advertising 17. For more informationAll of the research findings, analysis andconclusions are available in this whitepaper:How to influence FinTech buyers?The document is downloadable here:http://www.ccgrouppr.com/insights/audience-insight-report/how-to-influence-fintech-buyers/Alternatively, please get in touch:daniel.lowther@ccgrouppr.com+44 20 7535 7226+44 7747 636 687@ccgroupwww.ccgrouppr.com