Saturday, 19 August 2017 - About The Fintech Times | Rss

Should the major banks be excited or terrified about innovations in fintech?

Luis Carranza, the founder of FinTechWeek.com, answers:

Advertorials differ from traditional advertisements in that they are designed to look like the articles that appear in the publication. Most publications will not accept advertisements that look exactly like stories from the newspaper or magazine they are appearing in. The differences may be subtle, and disclaimers—such as the word "advertisement"—may or may not appear. Sometimes euphemisms describing the advertorial as a "special promotional feature" or "special advertising section" are used. The tone of the advertorials is usually closer to that of a press release than of an objective news story.

Advertorials can also be printed and presented as an entire newspaper section, inserted the same way within a newspaper as store fliers, comics sections, and other non-editorial content. These sections are usually printed on a smaller type of broadsheet and different newsprint than the actual paper. Many newspapers and magazines will assign staff writers or freelancers to write advertorials, usually without a byline credit. A major difference between regular editorial and advertorial is that clients usually have content approval of advertorials, a luxury usually not provided with regular editorial.

A related practice is the creation of material that looks like traditional media (for instance, a newspaper or magazine) but is actually created by a company to market its products. One familiar example is airline in-flight magazines, which may feature reports about travel destinations to which the airline flies.

Both. There are parts of banking that are outdated and need to change. There hasn’t been much of a need to change until recently. There’s a lot more competition, but also more reasons to innovate internally and more companies to acquire. If you take international payments for example, the cost to transfer money internationally has been relatively high (sometimes £60 to transfer less that £1000) and the transfers can take 24 hours or more. Newer players in the space such as Azimo, TransferGo and Transferwise can make the process much faster at a fraction of the cost. Richard Branson was part of a recent round that gave Transferwise a valuation of around $1 billion. Banks that understand their own vulnerabilities and how to improve should be excited. Banks or departments within banks that feel safe should be terrified. We’re in an age of realignment in the sector. It will be interesting to see who gets left behind.

Advertorials differ from traditional advertisements in that they are designed to look like the articles that appear in the publication. Most publications will not accept advertisements that look exactly like stories from the newspaper or magazine they are appearing in. The differences may be subtle, and disclaimers—such as the word "advertisement"—may or may not appear. Sometimes euphemisms describing the advertorial as a "special promotional feature" or "special advertising section" are used. The tone of the advertorials is usually closer to that of a press release than of an objective news story.

Advertorials can also be printed and presented as an entire newspaper section, inserted the same way within a newspaper as store fliers, comics sections, and other non-editorial content. These sections are usually printed on a smaller type of broadsheet and different newsprint than the actual paper. Many newspapers and magazines will assign staff writers or freelancers to write advertorials, usually without a byline credit. A major difference between regular editorial and advertorial is that clients usually have content approval of advertorials, a luxury usually not provided with regular editorial.

A related practice is the creation of material that looks like traditional media (for instance, a newspaper or magazine) but is actually created by a company to market its products. One familiar example is airline in-flight magazines, which may feature reports about travel destinations to which the airline flies.

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