In a sector where reputation is everything, few investments yield greater long-term value than a well-executed public relations strategy. The financial services industry, from traditional banks and wealth managers to disruptive fintechs, payment providers and forex brokers, faces constant scrutiny from regulators, investors, the press, and the public.
Recent data shows just how vital trust and perception are in this space. According to the Edelman 2024 Trust Barometer, only 59% of people say they trust the financial services sector, an improvement on previous years, but still lower than other industries such as technology or education. A separate report by Nielsen found that earned media, credible coverage from independent outlets, increases brand trust by an average of 61% compared with paid advertising.
Yet many firms still underestimate the power of proactive PR, often prioritising product development or direct sales instead. In reality, a robust PR strategy underpins all of these ambitions. Without it, growth slows, crises escalate, and trust erodes.
As Contentworks director, Charlotte Day, was quoted in the UK’s Business Matters: “Trust is the new currency”.
In this article, we’ll be diving into why you need financial services PR and what makes it different to other sector’s public relations activity.
Understanding Financial Services PR
At its core, financial services PR is the art and discipline of managing how a firm is perceived by its stakeholders. It’s more than press releases and media coverage, although both remain crucial. Done well, PR helps shape narratives that resonate with clients, investors, regulators and partners alike.
Unlike consumer brands, financial institutions operate under tight regulatory controls, complex product sets and intense competitive pressure. PR teams must navigate sensitive data, compliance requirements, and investor obligations. All while explaining intricate services in a way the market can understand.
Take Monzo, the UK-based neobank, as an example. Much of its early success was fuelled not by advertising but by an engaged community and a constant flow of earned media coverage. Its transparent approach and openly sharing challenges like funding rounds and technical outages, turned PR into an engine of trust, helping Monzo attract millions of customers with comparatively modest marketing spend.
The Tangible Benefits of PR in Finance
For decision-makers, the question is not whether PR works, but rather how its benefits translate into commercial results.
Brand Building
The first and obvious role of PR is developing and growing brand awareness. With paid for placements you are able to create and control your narrative. An added bonus is getting the benefits of backlinks which your SEO team will love you for.
Trust
Strategic PR enhances credibility in a way paid advertising rarely can. When respected outlets such as the Financial Times, Reuters, or the Wall Street Journal cover a firm’s story, it validates that business in the eyes of clients and investors. Research by Muck Rack found that 60% of PR professionals say earned media directly drives sales opportunities.
Investor Interest
Good PR can open doors to capital. Investors trust firms that appear in credible publications and share thought leadership in the right trade press. Revolut’s journey from a niche app to a global fintech unicorn is a clear case in point. By positioning its founder and leadership team as outspoken industry commentators, frequently featured in outlets from the BBC to CNBC, Revolut built visibility that helped secure early venture capital funding rounds worth hundreds of millions.
Reputation Risk Management
PR mitigates risk. The finance industry is no stranger to reputational crises, from data breaches to compliance failures. The difference between damage contained and damage amplified often comes down to how well-prepared a firm is to communicate under pressure. The collapse of Wirecard, once Germany’s star fintech, remains a textbook example of how poor crisis communication compounds reputational catastrophe.
Pro tip: Your Reputation and PR strategy must include a solid crises management plan so you can react quickly, consistently and effectively.
Talent Recruitment and Retention
Beyond the media, PR plays a vital internal role too. A visible, well-regarded brand helps attract and retain talent. LinkedIn’s research shows that three-quarters of jobseekers consider a company’s reputation before applying. At a time when financial services firms compete fiercely for top analysts, developers, and compliance professionals, an employer brand bolstered by positive press can prove decisive.
What Does Financial Services PR Cost?
Of course, PR is not free. For some, cost is the sticking point that stalls investment. Yet the outlay varies widely and, when viewed strategically, the return on investment can be significant.
Smaller fintechs or boutique wealth managers might partner with a specialist PR agency on a retainer starting from around £3,000 to £5,000 per month. This typically covers targeted trade press activity, bylined articles and basic press office support.
Mid-sized firms aiming for broader national or international visibility often invest between £5,000 and £20,000 per month, working with agencies that have relationships with mainstream business titles, handle thought leadership campaigns, and can step in with crisis support if needed.
Larger institutions, major retail banks, global asset managers, or payments giants, often engage tier-one PR consultancies at retainer levels upwards of £20,000 per month, often exceeding £50,000 when international markets, investor relations, upcoming IPOs, and high-stakes regulatory communication are involved.
Project-based fees are also common. For example, a standalone press release might cost £1,000 to £3,000 to draft, distribute and pitch effectively. Crisis management retainers, typically kept on standby for sudden reputational issues, can range from £5,000 to £15,000 for initial planning and messaging frameworks. Major industry event support such as media relations at a global banking conference might attract fees between £5,000 and £25,000, depending on scope.
Region also plays a role. London-based agencies naturally command higher rates than their regional counterparts. Similarly, firms targeting prestigious international outlets like Bloomberg, Reuters, or the FT pay more.
Check out some of our PR case studies.
PR as a Strategic Imperative
In an environment defined by scrutiny and competition, no financial services brand can afford to be silent or invisible. Markets move fast; trust is fragile. A single regulatory issue or negative headline can cost millions in lost investor confidence or customer churn.
Yet firms with a clear, credible, and consistent narrative tend to weather storms better and seize opportunities sooner. Whether you’re a scaling fintech looking to catch the attention of Series B investors, a legacy bank modernising its image, or a payments provider expanding across borders, PR underpins every step of that journey.
If you’d like to find out how PR can support your business objectives, we’re here. Book a free Zoom with our team.