How Explainer Videos Relates to Fintech in General?

Who loves money? I mean, who doesn’t?

Money is a tool that people trade with goods that they need or want, and without this tool, it will be a struggle to purchase anything.

However, I think anyone would agree that managing money is not as easy as spending it. Which is the reason why there are companies that can do all the hard work for you!

These companies need a way to market themselves so they exist on your radar. By knowing that these companies benefit you one way or another, you will consider using their products or services.

These companies need to market their products or services in a language that everyone can understand, instead of only those people majoring in Finance.

I mean if it’s explained in difficult and technical terms, we might as well do it ourselves.

This is not impossible. Far from it, let me tell you why.

What is Fintech?

Financial technology, also known as Fintech, is referring to companies that use technology and innovations to compete with conventional financial organizations.

Companies in the banking industry, investment firms, private equity firms, mediators in financial industries, etc. are some examples that are related to the industry.

Any advancement and improvement in the delivery service related to this industry aims to improve on the following

• Payments and transfers — e.g. online banking and transfer, cloud systems, etc.
• Management of capitals — e.g. social trading, exchange trade, etc.
• Funding — e.g. crowdfunding, P2P loans, etc.

Love-Love Relationship Between Explainer Video and Financial Industry

Let’s admit it, anything related to finance can be very complicated and stressful.

This applies to people of all ages.

But, what if I tell you there are ways we can make finance a little clearer and easy to understand?

Generally, explainer videos exist to help companies in explaining their products or services in a language that is easier to understand.

It can be made and adjusted based on each company’s and voiced with different country’s languages.

Some videos might also include subtitles in case there is more than one language they’d like to target.

Explainer videos can be used to explain several different topics:

• Educational videos — it can be as basic as loans, credit, and savings or something as complicated as other financial topics
• Personalized billing update — the world are trying to cut down paper usage and banks are moving to digital statements, which can be tricky to understand
• Policy change announcement — rules change all the time and it must be quickly communicated to the public to avoid miscommunication
• Financial tool descriptions — financial institutions are taking advantages of products and services that are available to give easier access for their customers to manage their financials, which require a tutorial video on how to utilize them

What Needs To Be Included In These Explainer Videos?

1) Product or Service Description

A way for people to understand what you’re selling is for you to explain your products/services.

As someone representing that business, you’re the best person that can provide the public with information as you know your product best. Use animated characters to better attract your audiences’ attention.

2) Training

After you describe your product, you can show your audiences how the products or services work.

For example, if it is a phone m-banking app, show some screenshots from the app so that your audiences know what to expect from your product.

If they decide to purchase or use your product, they will feel like they get what was advertised and as expected. You cannot expect your audiences to know how to use your products/services right away.

How Your Product/Service Can Benefit Your Customers

No one will consider purchasing a product if they don’t think there’s any benefit that will come out of it.

So you need to convince your audiences why they need to purchase your product/service and to purchase it from you and not your competitor.

You’re the one spending the money to make the video, why would you want to give the sales and money to your competitor?

They’re called competitors for a reason.

Scripting 101

Building the structure of your script is a very crucial part of the process. It is indeed the heart of any video-making process.

The script will decide how the video will look like and what message it will convey.

Graphics

Graphics play an important part in a video. It is the most visual component out of the whole video and it maintains your audiences’ retention span as long as you make it visually appealing and culturally accessible.

Voiceover

Making a video without any voiceover can get very boring and most likely the message will not get across to the audience.

Which means it’s a waste of time and money. Ensuring you have a good voice actor/actress will give your video a much higher chance to convey your message.

Background Music

Background music does not play a role in conveying your message. But, the right music will help to bring out the right emotion.

Animation

Animation helps your characters to convey the message. It makes the video look more appealing with a better flow, which makes the video easier to understand.

The animation of your video can vary from 2D to 3D depending on your budget.

Case Study: Sage Pay

Sage Pay is a business providing services in financial administration. This is a perfect example of an effective marketing video format.

The background music is pretty upbeat but it’s not distracting. It builds excitement but not enough that it distracts the viewers’ attention to fully focus on only the music.

So, let’s dig in a little deeper after watching their video.

Now that you saw the video, let’s break down the detail, shall we?

0.00–0.18 Seconds

Sage Pay explained who they are and outlined the main problem that a lot of companies are facing these days.

This is shown by how an employee was drowned with stacks of papers (unpaid invoices) and even though he worked hard to finish them all but it keeps stacking up.

0.18–0.55 Seconds

This period of time of the video is used as a tutorial of how easy it is to use their app on the company’s and its customers’ perspective.

This was done by showing animated pictures of what the app looks like and how to operate it.

0.55–1.08 Seconds

The video also explains how the company’s service can help solve the company’s problems and save them a lot of time and effort.

This is shown by stacks of papers (invoices) disappearing which translates to how it has been done.

1.08–1.20 Seconds

This part of the video focuses more on the company’s slogan and where businesses can contact them or get further information.

That’s it for today’s post 😊

If you work in a fintech company, we’d love to hear your thoughts on the comment box section below.

If not, we’d still like to hear your thoughts!