Marketing News

Apple's new credit card signals the latest landmark in the FS evolution

10 Apr 2019

Following the huge success of Apple Pay, tech giant Apple is taking another bite of the Financial Services cherry by launching its innovative new credit card. Designed to enable customers to lead a healthier financial life, the Apple card is built into the Apple Wallet app on the iPhone, meaning customers can manage their finances easily through their handset. The simple application process takes a matter of minutes, there are no fees, interest is low and privacy and security are high. Transactions are shown in real-time and are colour-coded for a better understanding of spending habits, plus customers receive daily cash rewards for using their Apple Card.

The Apple card is just the latest example of major tech companies moving further into the FS space. Accenture’s recent Banking Customer 2020 study revealed that 20% of banking customers are now digital-only users, with separate research from Gemalto finding that a quarter of millennials believe mobile banking is now essential for managing their finances.

So what does this shift to digital mean for marketing recruitment?

Stopgap’s specialist financial marketing consultant Rebecca Bryan emphasises how important it is for marketers to ensure their tech skills are up to date in order to stay one step ahead. “Candidates need to up-skill, especially in terms of digital,” she explains. “Aside from marketing skills, they also need to keep abreast of changes in the FS sector. For example,  I speak to candidates every day in finance who don't even know what FinTech really is. This kind of knowledge gap is going to cause issues down the line.”

According to Rebecca, there is one vital skill that the financial services industry will be looking for in its marketers – Digital, digital, digital... Knowing how to run a paid social campaign, or how to talk to a web developer about UX is becoming vital in this changing market.”

At a more senior level, proposition development is also a must-have skill as Stopgap lead Consultant Jackie Pinfold explains: “Many of these products are new and disruptive, so they need to be articulated to different target markets in the right way. Senior marketers need to be very hands-on, too, especially with the FinTechs who are run as lean machines. They can't afford big teams or the extensive use of agencies ­– often the people we place in FinTechs are the sole marketers in that operation.”

In this highly regulated sector, compliance experience is a key differentiator among candidates.

“Compliance is always going to be important in finance – given the industry, there will always be red tape,” adds Rebecca. “However it's the knowledge of regulation that makes traditional financial marketers so valuable when entering the FinTech space.”

While keeping up with the ever-changing technological developments can prove challenging for marketers, there are also many benefits to working in the FinTech. There are plenty of opportunities to join new, exciting, disruptive, fast-growing companies, especially in London ­– some of which are even being borne out of the more traditional corporates, successfully mixing safe financial backing with small, agile, multi-disciplinary teams.

Apple’s new credit card highlights how vitally important it is for today’s marketers to remain on top of their tech knowledge and embrace the ever-evolving digital revolution.

Are you ready to embrace your marketing career and make your next move? Speak to Stopgap today on 020 8332 7656 or email hello@stopgap.co.uk.

Or are you a Financial Services business looking for the best talent to stay ahead of the curve? Then why not brief us.

Sources - Apple - V12 Data - The Financial Brand

Apple’s new credit card highlights how vitally important it is for today’s marketers to remain on top of their tech knowledge and embrace the ever-evolving digital revolution.
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