If you’re building in fintech, you already know that trust isn’t given, it’s earned. That said, in today’s market, you need more than just trust—credibility is the currency that actually moves the needle.

This is why “social proof” has become the backbone of any fintech brand looking to scale. Stripe landed its first customers because developers vouched for it. They didn’t have flashy ads or a multimillion dollar marketing campaign. They had really good word of mouth. Same deal applied when Ramp took off. The product was great, but it was the flood of testimonials from founders who swore it changed their business.

If you’re not actively shaping the narrative around your brand, someone else will. And that’s a risk you can’t afford.

Welcome to Catalyst—your bi-weekly insights on emerging fintech and Web3 trends, a behind-the-scenes look at some of the top players in the space, and actionable strategies you can implement today. No fluff. No basic takes. Just clear insights on what's actually happening in fintech. 💻

Forwarded this email? Get Catalyst in your inbox each week.

Will’s Picks

A few things I’ve loved reading this week—

• Product Velocity Playbook

• 9 Things I Wish I Knew When I Started LinkedIn

• What 99% of Teams Get Wrong About Website Visitor Tracking

• The Silent Death of the SVP of Sales

• Social proof: How to use psychology in digital marketing

The Trust Deficit in Fintech

B2B fintech isn’t like consumer tech. You’re asking businesses to trust you with their money, their operations, and their compliance. You’re not selling a $10 widget that someone impulsively adds to their cart.

When asking someone to bet on you and make a high-stakes decision, no one wants to be the first to take the leap into dark water. This is where social proof comes in. The easiest way to de-risk a buying decision is to show that other credible people have already made it. If founders see their peers using your product and publicly endorsing it, the friction to adoption plummets.

Take Brex—in its early days, Brex got YC founders to advocate for their “game-changing corporate card.” Every other startup in the ecosystem took note, and adoption skyrocketed. This was a deliberate play to leverage network effects through social proof.

The Common Misconceptions About Social Proof

You don’t need a massive customer base to start implementing social proof effectively. A single well-placed testimonial from the right person can outperform months of traditional marketing efforts. Weave reviews and evidence naturally into your brand’s story through case studies, personal endorsements, media features, and community engagement.

A few key takeaways:

• Your best marketing asset is your existing customers. If they’re not talking about you, that’s the problem—not the algorithm.

• B2B buyers don’t trust marketing, they trust each other. Case studies, testimonials, and referrals aren’t optional; they’re the whole game.

• Authority compounds. The more people publicly vouch for you, the easier it gets to close the next deal, land the next investor, or recruit the next hire.

How to Start Building Credibility Today

If you’re not actively cultivating social proof, you’re leaving growth on the table. Here’s how to change that:

1. Turn customers into evangelists. Actively encourage happy customers to share their experiences. Whether that’s through Twitter, LinkedIn, or full case studies, make it easy for them to advocate for you.

2. Leverage industry influencers. Founders and investors with credibility in your space can accelerate trust in your product. Get them using it, talking about it, and sharing their wins.

3. Show, don’t just tell. Instead of saying “our product is great,” demonstrate it with compelling success stories and data-backed results.

4. Make social proof a habit, not a one-time effort. The most successful brands continuously showcase new proof points as they grow.

The Social Proof Matrix: Finding Your High-Impact Signals

Not all social proof carries the same weight. After analyzing dozens of fintech companies, we've identified a clear pattern in what actually moves the needle:

The Four Categories That Matter Most:

1. Executive Endorsements

   When C-suite leaders from recognizable companies publicly advocate for your solution, you're leveraging the highest form of social proof.

   • Example: Mercury Bank grew rapidly after YC founders regularly shared how it changed their banking experience.

2. Data-Backed Case Studies

   Generic testimonials aren't enough in fintech. Hard numbers showing measurable impact convert skeptics into believers.

   • Example: Ramp showcases "Company X saved $2.5M in their first year" rather than "Company X loves our product."

3. Industry Recognition

   Awards, partnerships with established institutions, and regulatory approvals create instant legitimacy.

   • Example: Plaid's partnership with JPMorgan Chase signaled to the market they were a trusted player.

4. Active Community Engagement

   Real-time conversations about your product, especially in industry-specific communities, drive organic discovery.

   • Example: Stripe's dominance in developer communities made them the default choice for startups.

What's notable is the difference in impact between planned and organic social proof. While you can orchestrate case studies and testimonials, the most powerful signals often emerge organically from genuinely satisfied customers. That's why product quality remains the foundation of effective social proof.

The Implementation Timeline: Social Proof Doesn't Happen Overnight

Building credible social proof requires a strategic approach. Many fintech companies make the mistake of trying to manufacture it all at once or waiting too long to start collecting it.

Month 1-3: Foundation Building

• Identify your most successful early customers

• Document their results with specific metrics

• Develop lightweight case study formats

• Set up tracking for product mentions

Month 3-6: Amplification Strategy

• Create formal case study program with incentives

• Develop executive thought leadership around customer stories

• Implement social sharing processes for customer wins

• Launch referral program for existing clients

Month 6-12: Social Proof Flywheel

• Scale customer advocacy program

• Secure industry validation (awards, partnerships)

• Cultivate relationships with niche media

• Begin independent analyst coverage

Beyond Year 1: Institutionalize Social Proof

• Build library of vertical-specific case studies

• Develop customer community platform

• Create industry benchmarking reports

• Formalize ROI measurement models