In the realm of digital strategy, search engine optimisation (SEO) holds a central position for any business. However, fintech companies, often targeting a global audience, face challenges in getting it right. As the internet evolves and offers a plethora of channels and activities, businesses must cover various aspects, including content marketing, user experience (UX), digital transformation, and market expansion.

While most brands understand the impact of SEO, many fintechs neglect the demands of their specific search engine categorisation. This oversight can have serious consequences since fintech businesses typically fall into the "Your Money or Your Life" (YMYL) category for Google, necessitating adherence to specific requirements.

What does YMYL mean for a fintech's digital strategy?

YMYL encompasses websites and web pages that have the potential to impact an individual's future happiness, health, financial stability, or safety. Consequently, it is crucial for fintechs to recognise the influence they wield. To succeed in SEO within the YMYL category, fintech companies must focus on providing Experience, Expertise, Authoritativeness, and Trustworthiness (EEAT). Although EEAT is not a direct ranking factor for Google, sites that consistently uphold these standards tend to have stronger SEO performance.

How can fintechs leverage EEAT to enhance SEO performance?

  1. Experience: Google’s guidelines ask whether the content creator has the ‘necessary first-hand or life experience for the topic’. For example, if you are an expert in Open Banking with a large social following, you are in an ideal position to showcase your unique experience on the topic. It would be beneficial to display yourself as the author for each article published on your website.
  2. Expertise: In the realm of financial matters, decisions involving money can significantly impact someone's life. Making the wrong choices or trusting the wrong individuals can have devastating consequences. Demonstrating expertise is crucial for fintech companies to gain the trust of both their audience and search engines. Companies should showcase their accreditation, if applicable, and ensure that all content is of high-quality and genuinely authored by individuals with clear industry experience.
  3. Authoritativeness: While expertise and authoritativeness are often used interchangeably, there are subtle distinctions between the two. For search engines, authority refers to a business's overall reputation within its industry. Being known for providing sound advice, acknowledged as a reliable data source, and recognised as a trusted provider of reliable information enhances authority. Building high-quality domain links is a key objective, and a good starting point is using credible and highly regarded sources on a website.
  4. Trustworthiness: Trust has become the most crucial factor for customers, given the prevalence of misinformation and fraudulent activities on the internet. Customers seek secure, accurate, factual, and transparent brands and websites. Leveraging user-generated content (UGC), including genuine reviews from real customers (even if not entirely positive), can help establish trust.

Can these principles be applied to PWAs?

Fintech companies that operate as Progressive Web Apps (PWAs) face challenges in implementing EEAT principles due to the app-based nature of their businesses. Search engines may struggle with discovering, crawling, and accurately indexing content on PWAs because of their reliance on JavaScript. Therefore, app store optimisation (ASO) should also be incorporated into the digital strategy. Analytics must be configured to track user activity across platforms, ensuring comprehensive monitoring and optimisation of website, app, and social media interactions.

While keyword research, content creation, on-page and technical SEO, and link building have become common knowledge in SEO, the requirements of YMYL and the potential of EEAT to fulfil them are often overlooked. This means that many fintech companies have significant room for improvement in these areas.

So, what does the future hold?

In today's competitive fintech landscape, staying ahead requires a comprehensive understanding of the evolving digital ecosystem. Fintech companies must recognise the significance of YMYL and EEAT in their digital strategy. By prioritising user experience, showcasing expertise, building authority, and fostering trustworthiness, these companies can not only improve their SEO performance but also establish a strong foundation for long-term success. Embracing these principles and incorporating them into their PWAs and other digital platforms will enable fintechs to navigate the complexities of the online world while earning the trust and loyalty of their audience.

Furthermore, the implementation of YMYL and EEAT principles goes beyond mere compliance with search engine requirements. It is a strategic approach that aligns with the expectations and needs of today's discerning customers. As individuals increasingly seek reliable and trustworthy financial services, fintech companies that prioritise YMYL and EEAT demonstrate their commitment to providing a secure and credible online environment. By integrating these principles into their digital strategies, fintechs can differentiate themselves from competitors, build stronger customer relationships, and ultimately drive business growth in an industry where trust and reputation are paramount.