Impact

Impact

What You Need to Know About Partner Programs in the Financial Services Sector

You might associate the retail and ecommerce sectors with having the most robust affiliate or partner marketing programs. While those sectors are certainly active in the space, financial services companies and the FinTech sector overall, are rapidly expanding existing partnerships and embracing performance partnerships for new products.

I recently spoke about the opportunities in the financial services sector on an episode of Acceleration Partners’ Outperform podcast.

As Regional Director at Impact, I work closely with our financial services clients and have a keen understanding as to what their needs are, the regulatory challenges they face, and the repercussions that ensue if an affiliate partner improperly markets their products or services.

In the realm of affiliate marketing, financial services companies must play by a different rulebook than, say, retail or e-commerce companies. They can’t simply work with any publisher, nor can the management of their program be “business as usual.” That’s because there are regulations that financial services need to abide by.

Anyone looking to partner with financial services companies, whether they’re technology companies, agencies, or publishers, must clearly understand the nuanced needs of the financial services industry. That said, these types of companies, which include banks, credit unions, brokerages, financial advisors, credit cards, and insurance are enthusiastically embracing the affiliate or partner model.

Highlights from the episode include:

  • Factors that make the financial services sector unique.
  • How a SaaS + Agency model enables more control over financial services companies’ partner programs.
  • What you need to know if you want to partner with a financial services company.
  • The value that your site or service can bring to their program(s).
  • Opportunities on the horizon for financial services companies and performance marketing partners looking to work with them.
  • The role Dodd-Frank, the Consumer Financial Protection Bureau (CFPB) and other compliance mandates play in how financial services companies approach their affiliate marketing programs.

Have a listen and gain insight into what financial services companies look for in the companies and publishers they  partner with, the types of publishers typically allowed to join their affiliate programs, and how they control the quality and compliance of their partnerships.

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