Wrapping up the financial year is always tiring. Welcome to a brand new financial year which our contributors have opened with a lot of hope in the fintech sector.
From the future of digital currency to when will SEA fully accept crypto; from marketing tips from former Gojek CMO to brand building via storytelling– we had a packed week.
Catch up on some of the interesting contributions from our community. If this inspires you to share your views, join the gang and submit a post.
Can fintech partnerships solve the challenges of micro and small businesses? by Sirish Kumar, cofounder of Telr
“For decades, these small-medium enterprises or warungs in Indonesia have been forced to exist outside formal financial systems that were never designed to be inclusive. While many small business owners do not want to be recognised to avoid declaring income or paying taxes.
For the vast majority, however, it is the absence of a meaningful financial infrastructure that prevents these cash-based businesses from participating. Avoiding it, however, poses certain challenges; challenges that have been exacerbated by the pandemic, and challenges that outweigh the perceived savings.”
To market, to market
How SMEs can get their digital ducks in a row for 2021 and beyond by David Fairfull, CEO and cofounder, Metigy
“SMEs have the opportunity to diversify and digitise their brick and mortar businesses by uncovering a new way to reach local customers. In signing up for the package, SMEs can tap into any of the four online partnered marketplaces to sell their products while also gaining access to services offered by the platforms. This includes content development, product listing, channel management, fulfilment services and advertising.
Beyond providing financial assistance, this package can help SMEs understand and apply digital marketing as well as improve proficiency in implementing effective digital campaigns. These skills enable SMEs to build long-term capabilities and generate greater consumer awareness of their brands and products.”
Ex-gojek CMO Piotr Jakubowski reveals the 3 things that marketers should stop doing today by Enricko Lukman, cofounder of ContentGrow
“Jakubowski is a familiar name among marketing veterans in Southeast Asia. He was the CMO of super app gojek from 2016 to 2018, where he helped build the brand into a household name. During his two and a half year stint at the now decacorn, gojek saw staggering business growth from five million monthly orders to more than 100 million.
Jakubowski shares three common content marketing pitfalls that practitioners today should try to avoid.”
Let your brand be a storyteller, not a seller: 6 marketing storytelling tips by Dana Kanchan, Digital marketing consultant and author
“Many companies struggle to tell good stories and build meaningful connections with consumers. To tell a story is not much of a challenge. To tell a great story is the art you must master well to make an impact.
After assisting many companies in the US and the Asia Pacific in marketing storytelling, I understood one key thing – great stories are only told by brands that do care about the people they create their products for. The common good must be a basis. Otherwise, the story will lack a “soul” and cannot make an influence.”
Paying with digital money
Tesla is now accepting bitcoin. Are crypto payments the future of business? by freelance journalist, Luke Fitzpatrick
“Cryptocurrency has become wildly popular, with bitcoin, the most popular cryptocurrency, having its value skyrocket in the first few weeks of 2021 and being bought by companies like Tesla. Despite all of this, it is not overly common for businesses to accept bitcoin payments for their products and services, but why?
For many, there are concerns about setting up the payment infrastructure to accept cryptocurrency. Business owners are usually aware of how to set up debit cards and PayPal payments on their websites, but no idea how to set up bitcoin payment options. This is because bitcoin and other cryptos are stored in a different way than fiat currency and many do not know where to start.”
“The existence of data governance, a strong internal process, and specific tools to serve a single vision of third party data –used on the client onboarding and during the KYC reviews– must go through the construction of an industrial and centralised approach to digital data processing.
Indeed, offers from data providers are still highly segmented. Banks are forced to use several solutions to cover the regulatory requirements and meet the needs of their business lines. Consequently, the huge number of utility providers and market solutions may result in higher costs for banks processing, rather than reducing them.”
Will Southeast Asia become a dominant force in the digital currency space? by fintech enthusiast, Kay Banzon
“In contrast to the US situation, Bitcoin and other cryptocurrencies did not immediately get a warm welcome in Southeast Asia. In 2017, Singapore issued a warning and expressed uneasiness with the rise of Bitcoin. In the same year, Vietnam banned the use of bitcoin and other cryptocurrencies as methods of payment. Also in 2017, Indonesia declared Bitcoin payment as illegal.
Things have changed over the years, though. Many countries in the ASEAN bloc have already enacted policies and legislation that somehow legitimise the use of digital currencies. Most countries still do not consider Bitcoin and crypto as legal tender, but they have adopted rules that legalise digital currency in other forms of financial transactions.”
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