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• My SBC Collection

  31 décembre 2023, par Multimedia Mike — General

  Like many computer nerds in the last decade, I have accumulated more than a few single-board computers, or “SBCs”, which are small computers based around a system-on-a-chip (SoC) that nearly always features an ARM CPU at its core. Surprisingly few of these units are Raspberry Pi units, though that brand has come to exemplify and dominate the product category.

  Also, as is the case for many computer nerds, most of these SBCs lay fallow for years at a time. Equipped with an inexpensive lightbox that I procured in the last year, I decided I could at least create glamour shots of various units and catalog them in a blog post.

  While Raspberry Pi still enjoys the most mindshare far and away, and while I do have a few Raspberry Pi units in my inventory, I have always been a bigger fan of the ODROID brand, which works with convenient importers around the world (in the USA, I can vouch for Ameridroid, to whom I’ve forked over a fair amount of cash for these computing toys).

  As mentioned, Raspberry Pi undisputedly has the most mindshare of all these SBC brands and I often wonder why… and then I immediately remind myself that it has the biggest ecosystem, and has a variety of turnkey projects and applications (such as Pi-hole and PiVPN) that promise a lower barrier to entry — as well as a slightly lower price point — than some of these other options. ODROID had a decent ecosystem for awhile, especially considering the monthly ODROID Magazine, though that ceased publication in July 2020. The Raspberry Pi and its variants were famously difficult to come by due to the global chip shortage from 2021-2023. Meanwhile, I had no trouble procuring these boards during the same timeframe.

  So let’s delve into the collection…
  

  Cubieboard
  The Raspberry Pi came out in 2012 and by 2013 I was somewhat coveting one to hack on. Finally ! An accessible ARM platform to play with. I had heard of the BeagleBoard for years but never tried to get my hands on one. I was thinking about taking the plunge on a new Raspberry Pi, but a colleague told me I should skip that and go with this new hotness called the Cubieboard, based on an Allwinner SoC. The big value-add that this board had vs. a Raspberry Pi was that it had a SATA adapter. Although now that it has been a decade, it only now occurs to me to quander whether it was true SATA or a USB-to-SATA bridge. Looking it up now, I’m led to believe that the SoC supported the functionality natively.

  Anyway, I did get it up and running but never did much with it, thus setting the tone for future SBC endeavors. No photos because I gave it to another tech enthusiast years ago, whose SBC collection dwarfs my own.

  ODROID-XU4
  I can’t recall exactly when or how I first encountered the ODROID brand. I probably read about it on some enthusiast page or another circa 2014 and decided to try one out. I eventually acquired a total of 3 of these ODROID-XU4 units, each with a different case, 1 with a fan and 2 passively-cooled :

  

  Collection of ODROID-XU4 SBCs

  This is based on the Samsung Exynos 5422 SoC, the same series as was used in their Note 3 phone released in 2013. It has been a fun chip to play with. The XU4 was also my first introduction to the eMMC storage solution that is commonly supported on the ODROID SBCs (alongside micro-SD). eMMC offers many benefits over SD in terms of read/write speed as well as well as longevity/write cycles. That’s getting less relevant these days, however, as more and more SBCs are being released with direct NVMe SSD support.

  I had initially wanted to make a retro-gaming device built on this platform (see the handheld section later for more meditations on that). In support of this common hobbyist goal, there is this nifty case XU4 case which apes the aesthetic of the Nintendo N64 :

  

  ODROID-XU4 N64-style case

  It even has a cool programmable LCD screen. Maybe one day I’ll find a use for it.

  For awhile, one of these XU4 units (likely the noisy, fan-cooled one) was contributing results to the FFmpeg FATE system.

  While it features gigabit ethernet and a USB3 port, I once tried to see if I could get 2 Gbps throughput with the unit using a USB3-gigabit dongle. I had curious results in that the total amount of traffic throughput could never exceed 1 Gbps across both interfaces. I.e., if 1 interface was dealing with 1 Gbps and the other interface tried to run at 1 Gbps, they would both only run at 500 Mbps. That remains a mystery to me since I don’t see that limitation with Intel chips.

  Still, the XU4 has been useful for a variety of projects and prototyping over the years.

  ODROID-HC2 NAS
  I find that a lot of my fellow nerds massively overengineer their homelab NAS setups. I’ll explore this in a future post. For my part, people tend to find my homelab NAS solution slightly underengineered. This is the ODROID-HC2 (the “HC” stands for “Home Cloud”) :

  

  ODROID-HC2 NAS

  It has the same guts as the ODROID-XU4 except no video output and the USB3 function is leveraged for a SATA bridge. This allows you to plug a SATA hard drive directly into the unit :

  

  ODROID-HC2 NAS uncovered

  Believe it or not, this has been my home NAS solution for something like 6 or 7 years now– I don’t clearly remember when I purchased it and put it into service.

  But isn’t this sort of irresponsible ? What about a failure of the main drive ? That’s why I have an external drive connected for backing up the most important data via rsync :

  

  ODROID-HC2 NAS backup enclosure

  The power consumption can’t be beat– Profiling for a few weeks of average usage worked out to 4.5 kWh for the ODROID-HC2… per month.

  ODROID-C2
  I was on a kick of ordering more SBCs at one point. This is the ODROID-C2, equipped with a 64-bit Amlogic SoC :

  

  ODROID-C2

  I had this on the FATE farm for awhile, performing 64-bit ARM builds (vs. the XU4’s 32-bit builds). As memory serves, it was unreliable and would occasionally freeze up.

  Here is a view of the eMMC storage through the bottom of the translucent case :

  

  Bottom of ODROID-C2 with view of eMMC storage

  ODROID-N2+
  Out of all my ODROID SBCs, this is the unit that I long to “get back to” the most– the ODROID-N2+ :

  

  ODROID-N2+

  Very capable unit that makes a great little desktop. I have some projects I want to develop using it so that it will force me to have a focused development environment.

  Raspberry Pi
  Eventually, I did break down and get a Raspberry Pi. I had a specific purpose in mind and, much to my surprise, I have stuck to it :

  

  Original Raspberry Pi

  I was using one of the ODROID-XU4 units as a VPN gateway. Eventually, I wanted to convert the XU4 to something else and I decided to run the VPN gateway as an appliance on the simplest device I could. So I procured this complete hand-me-down unit from eBay and went to work. This was also the first time I discovered the DietPi distribution and this box has been in service running Wireguard via PiVPN for many years.

  I also have a Raspberry Pi 3B+ kicking around somewhere. I used it as a Steam Link device for awhile.

  SOPINE + Baseboard
  Also procured when I was on this “let’s buy random SBCs” kick. The Pine64 SOPINE is actually a compute module that comes in the form factor of a memory module.

  

  Pine64 SOPINE Compute Module

  Back to using Allwinner SoCs. In order to make this thing useful, you need to place it in something. It’s possible to get a mini-ITX form factor board that can accommodate 7 of these modules. Before going to that extreme, there is this much simpler baseboard which can also use eMMC for storage.

  

  Baseboard with SOPINE, eMMC, and heat sinks

  I really need to find an appropriate case for this one as it currently performs its duty while sitting on an anti-static bag.

  NanoPi NEO3
  I enjoy running the DietPi distribution on many of these SBCs (as it’s developed not just for Raspberry Pi). I have also found their website to be a useful resource for discovering new SBCs. That’s how I found the NanoPi series and zeroed in on this NEO3 unit, sporting a Rockchip SoC, and photographed here with some American currency in order to illustrate its relative size :

  

  NanoPi NEO3

  I often forget about this computer because it’s off in another room, just quietly performing its assigned duty.

  MangoPi MQ-Pro
  So far, I’ve heard of these fruits prepending the Greek letter pi for naming small computing products :

  • Raspberry – the O.G.
  • Banana – seems to be popular for hobbyist router/switches
  • Orange
  • Atomic
  • Nano
  • Mango

  Okay, so the AtomicPi and NanoPi names don’t really make sense considering the fruit convention.

  Anyway, the newest entry is the MangoPi. These showed up on Ameridroid a few months ago. There are 2 variants : the MQ-Pro and the MQ-Quad. I picked one and rolled with it.

  

  MangoPi MQ-Pro pieces arrive

  When it arrived, I unpacked it, assembled the pieces, downloaded a distro, tossed that on a micro-SD card, connected a monitor and keyboard to it via its USB-C port, got the distro up and running, configured the wireless networking with a static IP address and installed sshd, and it was ready to go as a headless server for an edge application.

  

  MangoPi MQ-Pro components, ready for assembly

  The unit came with no instructions that I can recall. After I got it set up, I remember thinking, “What is wrong with me ? Why is it that I just know how to do all of this without any documentation ?”

  

  MangoPi MQ-Pro in first test

  Only after I got it up and running and poked around a bit did I realize that this SBC doesn’t have an ARM SoC– it’s a RISC-V SoC. It uses the Allwinner D1, so it looks like I came full circle back to Allwinner.

  

  MangoPi MQ-Pro with more US coinage for scale

  So I now have my first piece of RISC-V hobbyist kit, although I learned recently from Kostya that it’s not that great for multimedia.

  Handheld Gaming Units
  The folks at Hardkernel have also produced a series of handheld retro-gaming devices called ODROID-GO. The first one resembled the original Nintendo Game Boy, came as a kit to be assembled, and emulated 5 classic consoles. It also had some hackability to it. Quite a cool little device, and inexpensive too. I have since passed it along to another gaming enthusiast.

  Later came the ODROID-GO Advance, also a kit, but emulating more devices. I was extremely eager to get my hands on this since it could emulate SNES in addition to NES. It also features a headphone jack, unlike the earlier model. True to form, after I received mine, it took me about 13 months before I got around to assembling it. After that, the biggest challenge I had was trying to find an appropriate case for it.

  

  ODROID-GO Advance with case and headphones

  Even though it may try to copy the general aesthetic and form factor of the Game Boy Advance, cases for the GBA don’t fit this correctly.

  Further, Hardkernel have also released the ODROID-GO Super and Ultra models that do more and more. The Advance, Super, and Ultra models have powerful SoCs and feature much more hackability than the first ODROID-GO model.

  I know that the guts of the Advance have been used in other products as well. The same is likely true for the Super and Ultra.

  Ultimately, the ODROID-GO Advance was just another project I assembled and then set aside since I like the idea of playing old games much more than actually doing it. Plus, the fact has finally crystalized in my mind over the past few years that I have never enjoyed handheld gaming and likely will never enjoy handheld gaming, even after I started wearing glasses. Not that I’m averse to old Game Boy / Color / Advance games, but if I’m going to play them, I’d rather emulate them on a large display.

  The Future
  In some of my weaker moments, I consider ordering up certain Banana Pi products (like the Banana Pi BPI-R2) with a case and doing my own router tricks using some open source router/firewall solution. And then I remind myself that my existing prosumer-type home router is doing just fine. But maybe one day…

  The post My SBC Collection first appeared on Breaking Eggs And Making Omelettes.

• B2B Marketing Attribution Guide : How to Master It in 2024

  21 mai 2024, par Erin

  The last thing you want is to invest your advertising dollars in channels, campaigns and ads that don’t work. But B2B marketing attribution — figuring out which marketing efforts drive revenue — is far from easy.

  With longer sales funnels and multiple people from the same company involved in the same sales process, B2B (business-to-business) is a different ballgame from B2C (business-to-consumer) marketing.

  In this guide, we break down what B2B marketing attribution is, how it’s different, which tools you can use to set it up and the best practices.

  What is B2B marketing attribution ?

  Marketing attribution in B2B companies is about figuring out where your high-value leads come from — nailing down long customer journeys across many different touchpoints.

  

  The goal is to determine which campaigns and content contributed to various parts of the customer journey. It’s a complex process that needs a reliable, privacy-focused web analytics tool and a CRM that integrates with it.

  This process significantly differs from traditional marketing attribution, where you focus more on short sales cycles from individual customers. With multiple contributing decision makers, B2B attribution requires more robust systems.

  What makes marketing attribution different for B2B ?

  The key differences between B2B and B2C marketing attribution are a longer sales funnel and more people involved in the sales process.

  The B2B sales funnel is significantly longer and more complex

  The typical B2C sales funnel is often broken down into four simple stages :

  1. Awareness : when a prospect first finds out about your product or brand
  2. Interest : where a prospect starts to learn about the benefits of your product
  3. Desire : when a prospect understands that they need your product
  4. Action : the actual process of closing the sale

  Even the most simplified B2B sales funnel includes several key stages.

  

  Here’s a brief overview of each :

  1. Awareness : Buyers recognise they have a problem and start looking for solutions. Stand out with blog posts, social media updates, ebooks and whitepapers.
  2. Consideration : Buyers are aware of your company and are comparing options. Provide product demos, webinars and case studies to address their concerns and build trust.
  3. Conversion : Buyers have chosen your product or company. Offer live demos, customer service, case studies and testimonials to finalise the purchase.
  4. Loyalty : Buyers have made a purchase and are now customers. Nurture relationships with thank you emails, follow-ups, how-tos, reward programs and surveys to encourage repeat business.
  5. Advocacy : Loyal customers become advocates, promoting your brand to others. Encourage this with surveys, testimonial requests and a referral program.

  A longer sales cycle typically involves not only more touchpoints but also extended decision-making processes.

  More teams are involved in the marketing and sales process

  The last differentiation in B2B attribution is the number of people involved. Instead of clear-cut sales and marketing teams, revenue teams are becoming more common.

  They include all go-to-market teams like sales, marketing, customer success and customer support. In B2B sales, long-term customer relationships can be incredibly valuable. As such, the focus shifts away from new customer acquisition alone.

  For example, you can also track and optimise your onboarding process. Marketing gets involved in post-sale efforts to boost loyalty. Sales reps follow up with customer success to get new sales angles and insights. Customer support insights drive future product development.

  Everyone works together to meet high-level company goals.

  The next section will explore how to set up an attribution system.

  How to find the right mix of B2B marketing attribution tools

  For most B2B marketing teams, the main struggle with attribution is not with the strategy but with creating a reliable system that gives them the data points they need to implement that strategy.

  We’ll outline one approach you can take to achieve this without a million-dollar budget or internal data science team.

  Use website analytics to track touchpoints

  The first thing you want to do is install a reliable website analytics solution on your website. 

  Once you’ve got your analytics in place, use campaign tracking parameters to track touchpoints from external campaigns like email newsletters, social media ads, review sites (like Capterra) and third-party partner campaigns.

  This way, you get a clear picture of which sources are driving traffic and conversions, helping you improve your marketing strategies.

  With analytics installed, you can track the referring sources of visits, engagement and conversion events. A robust solution like Matomo tracks everything from traffic sources, marketing attribution and visitor counts to behavioural analytics, like clicks, scrolling patterns and form interactions on your site.

  Marketing attribution will give you a cohesive view of which traffic sources and campaigns drive conversions and revenue over long periods. With Matomo’s marketing attribution feature, you can even use different marketing attribution models to compare results :

  

  For example, in a single report, you can compare the last interaction, first interaction and linear (three common marketing attribution models). 

  In total, Matomo has 6 available attribution models to choose from :

  1. First interaction
  2. Last interaction
  3. Last non-direct 
  4. Linear
  5. Position based
  6. Time decay 

  These additional attribution models are crucial for B2B sites. While other web analytics solutions often limit to last-click attribution, this model isn’t optimal for B2B with extended sales cycles.

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  Use a CRM to integrate customer data from multiple sources

  Use your CRM software to integrate customer data from multiple sources. This will give you the ability to get meaningful B2B marketing insights. For example, you can get company-level insights so you can view conversion information by company, not just by person.

  Done effectively, you can close the loop back to analytics data by integrating data from multiple teams and platforms. 

  Implement self-reported attribution

  To further enhance the data, add qualifying questions in the lead signup process to create a hybrid attribution model. This is also known as self-reported attribution.

  

  Your web analytics platform won’t always be able to track the source of certain visits — for instance, “dark social” or peer-to-peer sharing, where links are shared privately and are not easily traceable by analytics tools.

  Doing self-reported attribution is crucial for getting a holistic image of your customer journey. 

  However, self-reported attribution isn’t foolproof ; users may click randomly or inaccurately recall where they first heard about you. So it’s essential to blend this data with your analytics to gain a more accurate understanding.

  Best practices for handling B2B prospect data in a privacy-sensitive world 

  Lastly, it’s important to respect your prospects’ privacy and comply with privacy regulations when conducting B2B marketing attribution.

  Privacy regulations and their enforcement are rapidly gaining momentum around the globe. Meta recently received a record GDPR fine of €1.2 billion for insufficient privacy measures when handling user data by the Irish Data Protection Agency.

  If you don’t want to risk major fines (or customers feeling betrayed), you shouldn’t follow in the same footsteps.

  Switch to a privacy-friendly web analytics

  Instead of using a controversial solution like Google Analytics, use a privacy-friendly web analytics solution like Matomo, Fathom or Plausible. 

  These alternatives not only ensure compliance with regulations like GDPR but also provide peace of mind amid the uncertain relationship between Google and GDPR. Google Analytics has faced bans in recent years, raising concerns about the future of the solution.

  While organisations governed by GDPR can currently use Google Analytics, there’s no guarantee of its continued availability.

  Make the switch to privacy-friendly web analytics to avoid potential fines and disruptive rulings that could force you to change platforms urgently. Such disruptions can be catastrophic for marketing teams heavily reliant on web analytics for tracking campaigns, business goals and marketing efforts.

  Improve your B2B marketing attribution with Matomo

  Matomo’s privacy-by-design architecture makes it the perfect analytics platform for the modern B2B marketer. Matomo enables you to meet even the strictest privacy regulations.

  At the same time, through campaign tracking URLs, marketing attribution, integrations and our API, you can track the results of various marketing channels and campaigns effectively. We help you understand the impact of each dollar of your marketing budget. 

  If you want a competitive edge over other B2B companies, try Matomo for free for 21 days. No credit card required.

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• Overcoming Fintech and Finserv’s Biggest Data Analytics Challenges

  13 septembre 2024, par Daniel Crough — Banking and Financial Services, Marketing, Security

  Data powers innovation in financial technology (fintech), from personalized banking services to advanced fraud detection systems. Industry leaders recognize the value of strong security measures and customer privacy. A recent survey highlights this focus, with 72% of finance Chief Risk Officers identifying cybersecurity as their primary concern.

  Beyond cybersecurity, fintech and financial services (finserv) companies are bogged down with massive amounts of data spread throughout disconnected systems. Between this, a complex regulatory landscape and an increasingly tech-savvy and sceptical consumer base, fintech and finserv companies have a lot on their plates.

  How can marketing teams get the information they need while staying focused on compliance and providing customer value ? 

  This article will examine strategies to address common challenges in the finserv and fintech industries. We’ll focus on using appropriate tools, following effective data management practices, and learning from traditional banks’ approaches to similar issues.

  What are the biggest fintech data analytics challenges, and how do they intersect with traditional banking ?

  Recent years have been tough for the fintech industry, especially after the pandemic. This period has brought new hurdles in data analysis and made existing ones more complex. As the market stabilises, both fintech and finserve companies must tackle these evolving data issues.

  Let’s examine some of the most significant data analytics challenges facing the fintech industry, starting with an issue that’s prevalent across the financial sector :

  1. Battling data silos

  In a recent survey by InterSystems, 54% of financial institution leaders said data silos are their biggest barrier to innovation, while 62% said removing silos is their priority data strategy for the next year.

  

  Data silos segregate data repositories across departments, products and other divisions. This is a major issue in traditional banking and something fintech companies should avoid inheriting at all costs.

  Siloed data makes it harder for decision-makers to view business performance with 360-degree clarity. It’s also expensive to maintain and operationalise and can evolve into privacy and data compliance issues if left unchecked.

  To avoid or remove data silos, develop a data governance framework and centralise your data repositories. Next, simplify your analytics stack into as few integrated tools as possible because complex tech stacks are one of the leading causes of data silos.

  Use an analytics system like Matomo that incorporates web analytics, marketing attribution and CRO testing into one toolkit.

  

  Matomo’s support plans help you implement a data system to meet the unique needs of your business and avoid issues like data silos. We also offer data warehouse exporting as a feature to bring all of your web analytics, customer data, support data, etc., into one centralised location.

  Try Matomo for free today, or contact our sales team to discuss support plans.

  2. Compliance with laws and regulations

  A survey by Alloy reveals that 93% of fintech companies find it difficult to meet compliance regulations. The cost of staying compliant tops their list of worries (23%), outranking even the financial hit from fraud (21%) – and this in a year marked by cyber threats.

  

  Data privacy laws are constantly changing, and the landscape varies across global regions, making adherence even more challenging for fintechs and traditional banks operating in multiple markets. 

  In the US market, companies grapple with regulations at both federal and state levels. Here are some of the state-level legislation coming into effect for 2024-2026 :

  • Oregon – Oregon Consumer Privacy Act (July 1, 2024)
  • Florida – Florida Digital Bill of Rights (July 1, 2024)
  • Texas – Texas Data Privacy and Security Act (July 1, 2024)
  • Montana – Montana Consumer Data Privacy Act (October 1, 2024)
  • Delaware – Delaware Personal Privacy Act (January 1, 2025)
  • Iowa – Iowa Consumer Data Protection Act (January 1, 2025)
  • New Jersey – SB 332 (January 15, 2025)
  • Tennessee – Tennessee Information Protection Act (July 1, 2025)
  • Indiana – Indiana Consumer Data Protection Act ( January 1, 2026)

  Other countries are also ramping up regional regulations. For instance, Canada has Quebec’s Act Respecting the Protection of Personal Information in the Private Sector and British Columbia’s Personal Information Protection Act (BC PIPA).

  Ignorance of country- or region-specific laws will not stop companies from suffering the consequences of violating them.

  The only answer is to invest in adherence and manage business growth accordingly. Ultimately, compliance is more affordable than non-compliance – not only in terms of the potential fines but also the potential risks to reputation, consumer trust and customer loyalty.

  This is an expensive lesson that fintech and traditional financial companies have had to learn together. GDPR regulators hit CaixaBank S.A, one of Spain’s largest banks, with multiple multi-million Euro fines, and Klarna Bank AB, a popular Swedish fintech company, for €720,000.

  To avoid similar fates, companies should :

  1. Build solid data systems
  2. Hire compliance experts
  3. Train their teams thoroughly
  4. Choose data analytics tools carefully

  Remember, even popular tools like Google Analytics aren’t automatically safe. Find out how Matomo helps you gather useful insights while sticking to rules like GDPR.

  3. Protecting against data security threats

  Cyber threats are increasing in volume and sophistication, with the financial sector becoming the most breached in 2023.

  

  The cybersecurity risks will only worsen, with WEF estimating annual cybercrime expenses of up to USD $10.5 trillion globally by 2025, up from USD $3 trillion in 2015.

  While technology brings new security solutions, it also amplifies existing risks and creates new ones. A 2024 McKinsey report warns that the risk of data breaches will continue to increase as the financial industry increasingly relies on third-party data tools and cloud computing services unless they simultaneously improve their security posture.

  The reality is that adopting a third-party data system without taking the proper precautions means adopting its security vulnerabilities.

  In 2023, the MOVEit data breach affected companies worldwide, including financial institutions using its file transfer system. One hack created a global data crisis, potentially affecting the customer data of every company using this one software product.

  The McKinsey report emphasises choosing tools wisely. Why ? Because when customer data is compromised, it’s your company that takes the heat, not the tool provider. As the report states :

  “Companies need reliable, insightful metrics and reporting (such as security compliance, risk metrics and vulnerability tracking) to prove to regulators the health of their security capabilities and to manage those capabilities.”

  Don’t put user or customer data in the hands of companies you can’t trust. Work with providers that care about security as much as you do. With Matomo, you own all of your data, ensuring it’s never used for unknown purposes.

  

  4. Protecting users’ privacy

  With security threats increasing, fintech companies and traditional banks must prioritise user privacy protection. Users are also increasingly aware of privacy threats and ready to walk away from companies that lose their trust.

  Cisco’s 2023 Data Privacy Benchmark Study reveals some eye-opening statistics :

  • 94% of companies said their customers wouldn’t buy from them if their data wasn’t protected, and 
  • 95% see privacy as a business necessity, not just a legal requirement.

  Modern financial companies must balance data collection and management with increasing privacy demands. This may sound contradictory for companies reliant on dated practices like third-party cookies, but they need to learn to thrive in a cookieless web as customers move to banks and service providers that have strong data ethics.

  This privacy protection journey starts with implementing web analytics ethically from the very first session.

  

  The most important elements of ethically-sound web analytics in fintech are :

  1. 100% data ownership : Make sure your data isn’t used in other ways by the tools that collect it.
  2. Respecting user privacy : Only collect the data you absolutely need to do your job and avoid personally identifiable information.
  3. Regulatory compliance : Stick with solutions built for compliance to stay out of legal trouble.
  4. Data transparency : Know how your tools use your data and let your customers know how you use it.

  Read our guide to ethical web analytics for more information.

  5. Comparing customer trust across industries 

  While fintech companies are making waves in the financial world, they’re still playing catch-up when it comes to earning customer trust. According to RFI Global, fintech has a consumer trust score of 5.8/10 in 2024, while traditional banking scores 7.6/10.

  

  This trust gap isn’t just about perception – it’s rooted in real issues :

  • Security breaches are making headlines more often.
  • Privacy regulations like GDPR are making consumers more aware of their rights.
  • Some fintech companies are struggling to handle fraud effectively.

  According to the UK’s Payment Systems Regulator, digital banking brands Monzo and Starling had some of the highest fraudulent activity rates in 2022. Yet, Monzo only reimbursed 6% of customers who reported suspicious transactions, compared to 70% for NatWest and 91% for Nationwide.

  So, what can fintech firms do to close this trust gap ?

  • Start with privacy-centric analytics from day one. This shows customers you value their privacy from the get-go.
  • Build and maintain a long-term reputation free of data leaks and privacy issues. One major breach can undo years of trust-building.
  • Learn from traditional banks when it comes to handling issues like fraudulent transactions, identity theft, and data breaches. Prompt, customer-friendly resolutions go a long way.
  • Remember : cutting-edge financial technology doesn’t make up for poor customer care. If your digital bank won’t refund customers who’ve fallen victim to credit card fraud, they’ll likely switch to a traditional bank that will.

  The fintech sector has made strides in innovation, but there’s still work to do in establishing trustworthiness. By focusing on robust security, transparent practices, and excellent customer service, fintech companies can bridge the trust gap and compete more effectively with traditional banks.

  6. Collecting quality data

  Adhering to data privacy regulations, protecting user data and implementing ethical analytics raises another challenge. How can companies do all of these things and still collect reliable, quality data ?

  Google’s answer is using predictive models, but this replaces real data with calculations and guesswork. The worst part is that Google Analytics doesn’t even let you use all of the data you collect in the first place. Instead, it uses something called data sampling once you pass certain thresholds.

  In practice, this means that Google Analytics uses a limited set of your data to calculate reports. We’ve discussed GA4 data sampling at length before, but there are two key problems for companies here :

  1. A sample size that’s too small won’t give you a full representation of your data.
  2. The more visitors that come to your site, the less accurate your reports will become.

  For high-growth companies, data sampling simply can’t keep up. Financial marketers widely recognise the shortcomings of big tech analytics providers. In fact, 80% of them say they’re concerned about data bias from major providers like Google and Meta affecting valuable insights.

  This is precisely why CRO:NYX Digital approached us after discovering Google Analytics wasn’t providing accurate campaign data. We set up an analytics system to suit the company’s needs and tested it alongside Google Analytics for multiple campaigns. In one instance, Google Analytics failed to register 6,837 users in a single day, approximately 9.8% of the total tracked by Matomo.

  In another instance, Google Analytics only tracked 600 visitors over 24 hours, while Matomo recorded nearly 71,000 visitors – an 11,700% discrepancy.

  

  Financial companies need a more reliable, privacy-centric alternative to Google Analytics that captures quality data without putting users at potential risk. This is why we built Matomo and why our customers love having total control and visibility of their data.

  Unlock the full power of fintech data analytics with Matomo

  Fintech companies face many data-related challenges, so compliant web analytics shouldn’t be one of them. 

  With Matomo, you get :

  • An all-in-one solution that handles traditional web analytics, behavioural analytics and more with strong integrations to minimise the likelihood of data siloing
  • Full compliance with GDPR, CCPA, PIPL and more
  • Complete ownership of your data to minimise cybersecurity risks caused by negligent third parties
  • An abundance of ways to protect customer privacy, like IP address anonymisation and respect for DoNotTrack settings
  • The ability to import data from Google Analytics and distance yourself from big tech
  • High-quality data that doesn’t rely on sampling
  • A tool built with financial analytics in mind

  Don’t let big tech companies limit the power of your data with sketchy privacy policies and counterintuitive systems like data sampling. 

  Start your Matomo free trial or request a demo to unlock the full power of fintech data analytics without putting your customers’ personal information at unnecessary risk.