The fintech sector has already reshaped the world in so many ways, and continues to do so by making finance faster, easier, and ever-more accessible. But we’ve still not seen the limits of the good fintech can do. When built on the foundation of a strong purpose, fintechs can help build a fairer and more equitable society. Quite literally, they can change the world for the better.
That all sounds lovely, doesn’t it? But the reality is that, as a business, you need to make money. The good news is that purpose and profit aren’t mutually exclusive. In fact, there are proven business benefits to making purpose part of your growth strategy.
Purpose as a driver of innovation and growth
It may be easy to dismiss ‘purpose’ as a ‘nice to have’ or a box-ticking exercise. But purpose is proven to fuel creativity, helping companies differentiate themselves in a crowded market. This is particularly important in fintech, an industry worth approximately $226.76 billion and projected to reach $917.17 billion by 2032.
Those that prioritise inclusivity, sustainability, and ethical practices are the ones leading the way with groundbreaking products and services. Meanwhile, socially conscious investors and other stakeholders – including employees, customers, regulators, suppliers and distributors – want to know about a company’s stance on socioeconomic factors, its sustainability efforts and its corporate governance processes. According to Bloomberg Intelligence, global ESG investment assets under management might surpass $40 trillion by 2030.
Fintech ESG in practice
There are countless examples of fintechs focusing on financial inclusion; designing tools that extend banking services to unbanked populations, and digital platforms offering microloans or savings tools allow underserved communities to build financial security.
Others are committed to sustainability by integrating carbon tracking features into payment systems, empowering consumers to monitor their environmental impact. By blending mission-driven goals with cutting-edge technology, these companies are driving meaningful change while gaining a competitive edge.
The rise of ethical investment platforms further illustrates how purpose-driven fintechs are shaping the future. These platforms empower users to invest in companies that align with their values, promoting sustainable practices across industries while delivering returns that reflect both ethical and financial success.
How aligning profit with purpose benefits business
Aligning profit with purpose doesn’t just feel good, it actually delivers measurable business results. Purpose-driven companies cultivate deep customer loyalty and attract socially conscious investors. Additionally, they enjoy increased regulatory goodwill, reduced risks, and stronger brand reputations.
The data speaks for itself. Purpose-led organisations achieve an annual return on equity averaging 13.1%, outpacing the S&P by 9%. Employee satisfaction also soars. These companies retain workers who are 64% more engaged and motivated by their work.
Furthermore, a strong ESG statement attracts new business and customer loyalty. A massive 71% of the IT professionals who responded to one 2024 survey said they think their company would pay more than a 5% price premium for IT products from vendors that have strong ESG practices.
The shift towards purpose is no longer optional. Consumers, investors, and regulators increasingly expect financial technology firms to prioritise ethical behaviour. Companies embracing this approach are better positioned to navigate market challenges, attract top talent, and capitalise on emerging trends.
The message is clear: integrating social and environmental missions with financial success is a viable and sustainable business model in fintech. When business goals align with social and environmental missions, innovation flourishes.
As the financial industry continues to evolve, fintechs that embrace purpose will be at the forefront of shaping a more inclusive and sustainable future. Now is the time to lead with purpose, unlocking new opportunities while creating a better world for all.
Partner with a PR agency that shares your vision
Your purpose-driven fintech deserves a communications strategy that reflects your values and amplifies your impact. A specialised fintech PR agency can help you craft compelling narratives, build trust with stakeholders, and position your brand as a leader in ethical innovation.
Get in touch today to find out how a partner who understands your mission can drive your message forward.