9 Proven Strategies to Build Customer Trust For Fintech Companies

Aug 25, 2020 | UX Guide, Financial Services, User Experience, User Research | 0 comments

In fintech, trust isn’t a soft metric. It’s the foundation of adoption, retention, and long-term loyalty. Before users decide to engage with your service, they’re asking a critical question: Can I trust you?

Think about it, you wouldn’t hand over your wallet to just anyone, right? If you answered “no,” then you feel the exact same way your customers do about their financial data.

Here are 9 trust-building strategies to help them say “yes”:

1. Display Your Security Measures

Does your product have end-to-end encryption? Multi-factor authentication? Biometric login? If yes, great! Now make sure your users know it.

Today’s users want to know what’s protecting their money. Terms like “encryption” and “data privacy” aren’t too technical anymore; they’re expected. And if someone doesn’t get it, explain it simply.

Think of it like this: If users understand your security, they’ll trust it.

PayPal nails this. Their security FAQ explains complex topics like “data encryption” and “transaction monitoring” in clear, digestible language, backed by links and visual guides.

Paypal’s security page

And don’t stop there. Let users control their data: offer privacy settings, opt-outs, and easy account deletion. Mention certifications like ISO 27001 and consider publishing transparency reports. These little steps go a long way in showing you take both security and accountability seriously.

Being secure isn’t enough; you need to show it.

2. Be Transparent

Trust and transparency go hand in hand. 

Users want to know what data you collect, why, and what they can do about it. According to Plaid’s Fintech Effect study, 76% of people trust companies more when privacy practices are clearly explained. So tell them. Spell it out. Let users opt in, not just opt out.

But the real test of transparency comes when things go wrong.

BigPay’s response to a 2020 scam is a great example. Instead of hiding the issue, they updated users, explained the scam, and outlined clear next steps. Transparency in tough moments builds stronger customer trust than any marketing campaign.

3. Prove Your Worth

Want users to pick you over the competition? Don’t just say you’re trustworthy; prove it.

Tired testimonials don’t cut it anymore. Users want real evidence. Use case studies, real-time stats, or ROI metrics to show tangible value. Let real outcomes speak.

User-generated content is gold. Whether it’s a review on a public platform or a customer’s social media post you’ve been tagged in, don’t hide the messy bits, embrace them. Transparency signals confidence.

Wise features live reviews from Trustpilot on their homepage, including a link to view them all. That openness helps build customer trust because it shows they’re confident in their service.

4. Show Financial Responsibility

If you’re asking people to trust you with their money, show them how you handle yours.

You don’t need to be a public company to act like one. Disclose where your money goes and be upfront about how your funds are used. Whether it’s through quarterly updates or budget breakdowns, it’s a small step that sends a big message: “We’re transparent because we’ve got nothing to hide.”

Ethics matter too. Many fintech customers want to know their money isn’t funding something harmful. Whether it’s social impact, sustainability, or financial inclusion, customer trust grows when you share your values.

Maybank Foundation, for instance, publishes an annual Social Impact Report filled with real stories and numbers on how their initiatives empowered communities across ASEAN countries.

Whether your mission is to drive financial inclusion, champion green finance, or make lending more responsible, show users what you stand for and how that translates into real action. 

After all, if they’re trusting you with their money, they deserve to know what kind of future they’re investing in.

5. Engage Authentically on Social Media

Social media isn’t just a megaphone, it’s a microscope. This is where trust meets visibility. Users are watching how you respond, not just what you post.

When a user tweeted about a payment issue, Monzo responded promptly with empathy and clarity, guiding them to support channels.

This kind of public dialogue helps build customer trust by demonstrating that someone’s always listening. But remember, social media is a trust touchpoint, not a replacement for customer service.

The deeper support issues? Those belong on your website or app, where users can access your full help ecosystem. But out here, in the open, every reply is a chance to build credibility, or lose it.

6. Prioritize Customer Service

Mistakes happen—products break, bugs surface and confusion arises. What matters is how you show up when things go wrong.

Empathetic, human responses go further than apologies when building customer trust. Thank users who flag issues, acknowledge their concerns, and follow up after resolving the problem. 

OCBC set a strong example. After a phishing scam hit customers resulting in a total loss of SGD$8.5 million, they wasted no time investigating the issue and later on even issued full goodwill payouts, a response given by their very own CEO at the time. Their swift, human-first approach helped rebuild customer trust.

Ensure users can easily reach human support. Smart chatbots help, but only if they truly solve problems. The ability to escalate to a human matters more than ever. A single good support experience can turn a frustrated user into a brand evangelist. That’s the power of good service.

7. Let Users Try Before They Commit

Want people to trust your product? Let them try it first.

In fintech, where unfamiliar tools can intimidate, “try before you buy” is a powerful trust-building strategy. Create as little friction as possible for them to get started. Let people sign up without needing to enter a credit card. Give them a demo account to learn and explore. These simple gestures show users that you’re confident in your product, and that you want them to feel confident too.

Robinhood did this by removing trading fees and making investing feel less intimidating to newcomers. That simple shift made the space more inclusive and earned tons of trust.

8. Build Credibility Through Partnerships

When you’re new, building trust from scratch is hard. So borrow some. Strategic partnerships can help fintech startups establish instant credibility. When users see you working with brands they already trust, it boosts your reputation by association.

GoBarakah partnered with Hong Leong Islamic Bank under PayNet’s Cambah initiative to expand access to social financing, boosting their credibility and reach.

But don’t stop at big names. Collaborating with subject matter experts, educators, or even influencers is becoming a powerful way to break down complex financial topics and reach users on a more personal level.

Octa, a global trading platform active in Southeast Asia, has embraced this by running an “always-on” influencer strategy, working with a network of finance and lifestyle creators to continuously educate and engage their audience. This kind of long-term collaboration helps keep the brand top of mind and reinforces credibility over time.

Even small collaborations can be powerful trust-building strategies, as long as they’re authentic.

9. Co-Innovate With Your Users

In fintech, standing still is falling behind. This field thrives on innovation, but it isn’t just about flashy features. The best upgrades come from user input.

Co-creation is one of the most underrated trust-building strategies. Invite feedback. Share your roadmap. Let users be part of what’s next.

Then follow through. Celebrate the features that came from user requests. Publish your release notes and updates in the language real people understand.

When customers see their ideas implemented, it reinforces the narrative that you’re committed to serving them, and not just your bottom line.

Innovation builds customer trust when it’s consistent, collaborative, and transparent. Your users will stay with you not because you got everything right on Day 1—but because you keep getting better.

Conclusion

At the heart of every one of these trust-building strategies is a simple idea: people trust companies that make them feel seen, safe, and heard.

Trust isn’t a one-time win. In fintech, where the pace is fast and stakes are high, you need to earn and re-earn trust constantly.

Be open. Be accountable. Be proactive.

And remember, you don’t have to do it alone.

If you’re building a fintech product and need help gathering insights or co-creating with users, we at Netizen Experience are here to help. We specialize in helping you design better user experiences—grounded in empathy, backed by data, and trusted by users.

Let’s talk!