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• What Is Ethical SEO & Why Does It Matter ?

  7 mai 2024, par Erin

  Do you want to generate more revenue ?

  Then, you need to ensure you have a steady stream of traffic flowing to your site.

  Search engines like Google, Bing and Yahoo are powerful mediums you can use to scale your business.

  Search engine optimisation (SEO) is the process of creating search engine-friendly content to draw in traffic to your website. But, if you aren’t careful, you could be crossing the line of ethical SEO into unethical SEO.

  In this article, we break down what ethical SEO is, why it’s important in business and how you can implement effective SEO into your business while remaining ethical.

  Let’s begin.

  What is ethical SEO ?

  Since the early days of the internet and search engines, business owners and marketers have tried using all kinds of SEO tactics to rank atop the search engines for relevant keywords.

  The problem ?

  Some of these practices are ethical, while others aren’t.

  What exactly is ethical SEO ?

  It’s the practice of optimising your website’s rankings in search engines by following search engine guidelines and prioritising user experience.

  

  Ethical SEO is also referred to as “white hat SEO.”

  On the other hand, businesses that break search engine rules and guidelines to “hack” their way to the top with faulty and questionable practices use unethical SEO, or “black hat SEO.”

  Ethical SEO aims to achieve higher rankings in search engines through sustainable, legitimate and fair methods.

  Black hat, or unethical SEO, aims to manipulate or “game” the system with deceptive strategies to bypass the search engine’s guidelines to rank higher.

  The two core branches of ethical SEO include :

  1. Strategies that align with search engine guidelines.
  2. Accessibility to broad audiences.

  Some examples of ethical SEO principles include :

  • Natural link building
  • Compliance with search engine guidelines
  • Establishing great user experiences
  • Creating reader-focused content

  By sticking to the right guidelines and implementing proper SEO practices, businesses can establish ethical SEO to generate more traffic and grow their brands.

  8 ethical SEO practices to implement

  If you want to grow your organic search traffic, then there’s no doubt you’ll need to have some SEO knowledge.

  While there are dozens of ways to “game” SEO, it’s best to stick to proven, ethical SEO techniques to improve your rankings.

  Stick to these best practices to increase your rankings in the search engine results pages (SERPs), increase organic traffic and improve your website conversions.

  

  1. Crafting high-quality content

  The most important piece of any ethical SEO strategy is content.

  Forget about rankings, keywords and links for a second.

  Step back and think about why people go to Google, Bing and Yahoo in the first place.

  They’re there looking for information. They have a question they need answered. That’s where you can come in and give them the answer they want. 

  How ? In the form of content.

  The best long-term ethical SEO strategy is to create the highest-quality content possible. Crafting high-quality content should be where you focus 90% of your SEO efforts.

  2. Following search engine guidelines

  Once you’ve got a solid content creation strategy, where you’re producing in-depth, quality content, you need to ensure you’re following the guidelines and rules put in place by the major search engines.

  This means you need to stay compliant with the best practices and guidelines laid out by the top search engines.

  If you fail to follow these rules, you could be penalised, your content could be downgraded or removed from search engines, and you could even have your entire website flagged, impacting your entire organic search traffic from your site.

  You need to ensure you align with the guidelines so you’re set up for long-term success with your SEO.

  3. Conducting keyword research and optimisation

  Now that we’ve covered content and guidelines, let’s talk about the technical stuff, starting with keywords.

  In the early days of SEO (late 90s), just about anyone could rank a web page high by stuffing keywords all over the page.

  While those black hat techniques used to work to “game” the system, it doesn’t work like that anymore. Google and other major search engines have much more advanced algorithms that can detect keyword stuffing and manipulation.

  Keywords are still a major part of a successful SEO strategy. You can ethically incorporate keywords into your content (and you should) if you want to rank higher. 

  Your main goal with your content is to match it with the search intent. So, incorporating keywords should come naturally throughout your content. If you try to stuff in unnecessary keywords or use spammy techniques, you may not even rank at all and could harm your website’s rankings.

  4. Incorporating natural link building

  After you’ve covered content and keywords, it’s time to dive into links. Backlinks are any links that point back to your website from another website.

  These are a crucial part of the SEO pie. Without them, it’s hard to rank high on Google. They work well because they tell Google your web page or website has authority on a subject matter.

  But you could be penalised if you try to manipulate backlinks by purchasing them or spamming them from other websites.

  Instead, you should aim to draw in natural backlinks by creating content that attracts them.

  How ? There are several options :

  • Content marketing
  • Email outreach
  • Brand mentions
  • Public relations
  • Ethical guest posting

  Get involved in other people’s communities. Get on podcasts. Write guest posts. Connect with other brands. Provide value in your niche and create content worth linking to.

  5. Respecting the intellectual property of other brands

  Content creation is moving at lightspeed in the creator economy and social media era. For better or for worse, content is going viral every day. People share content, place their spin on it, revise it, optimise it, and spread it around the internet.

  Unfortunately, this means the content is sometimes shared without the owner’s permission. Content is one form of intellectual property (IP). 

  If you share copyrighted material, you could face legal consequences.

  6. Ensuring transparency

  Transparency is one of the pillars of ethical marketing.

  If you’re running the SEO in your company or an agency, you should always explain the SEO strategies and tactics you’re implementing to your stakeholders.

  It’s best to lean on transparency and honesty to ensure your team knows you’re running operations ethically.

  7. Implementing a great user experience

  The final pillar of ethical SEO practices is offering a great user experience on your website.

  Major search engines like Google are favouring user experience more and more every year. This means knowing how to track and analyse website metrics like page load times, time on page, pageviews, media plays and event tracking.

  8. Use an ethical web analytics solution

  Last but certainly not least. Tracking your website visitors ethically is key to maintaining SEO ethics.

  You can do this by using an ethical web analytics solution like Matomo, Plausible or Fathom. All three are committed to respecting user privacy and offer ethical tracking of visitors.

  We’re a bit biassed towards Matomo, of course, but for good reasons.

  Matomo offers accurate, unsampled data along with advanced features like heatmaps, session recording, and A/B testing. These features enhance user experience and support ethical SEO practices by providing insights into user behaviour, helping optimise content. 

  Try Matomo for Free

  Get the web insights you need, without compromising data accuracy.

  Start for free

  No credit card required

  6 unethical SEO practices to avoid

  Now that we’ve covered the ethical SEO best practices let’s talk about what kind of unethical SEO practices you want to avoid.

  Remember, SEO isn’t as easy to manipulate as it once was 20 years ago.

  Algorithms are much more sophisticated now, and search engines are getting better at detecting fraudulent, scammy or unethical SEO practices every year.

  Avoid these eight unethical SEO practices to ensure you can rank high in the long term :

  

  1. Keyword stuffing

  Keyword stuffing is probably the most common unethical SEO practice. This is where someone deliberately stuffs keywords onto a page to manipulate the search engines to rank a web page higher.

  Where this is unethical isn’t always easy to detect, but in some cases, it is. It comes down to whether it’s relevant and natural or intentionally stuffing.

  2. Cloaking

  Cloaking is another unethical SEO practice where someone manipulates the information search engines see on their website.

  For example, someone may show search engines one web page on their website, but when someone clicks on it in Google, they can direct someone to a completely different page. They do this by detecting the incoming request from the user agent and presenting different content.

  3. Deceiving functionality

  Another way companies are unethically implementing SEO tactics is by deceiving people with misleading information. For example, a website may claim to provide a free resource or directory but may intentionally lead visitors to paid products.

  4. Fraudulent redirects

  Another way to deceive or mislead searchers is by creating fraudulent redirects. A redirect is a way to take someone to a different web page when they click on another one. Redirects can be useful if a page is broken or outdated. However, they can be used to deceptively take someone to a website they didn’t intend to view.

  5. Negative SEO

  Negative SEO is the intentional attempt to harm a competitor’s search engine rankings through unethical tactics.

  These tactics include duplicating their content or generating spammy links by creating low quality or irrelevant backlinks to their site.

  6. Hidden text

  Placing hidden text on a website typically has one purpose : keyword stuffing.

  Instead of making it visible to users reading the content, websites will place invisible text or text that’s hard to read on a website to try to rank the content higher and manipulate the search engines.

  3 reasons you need to implement ethical SEO

  So, why should you ensure you only implement ethical SEO in your organic traffic strategy ?

  It’s not just about what’s morally right or wrong. Implementing ethical SEO is the smartest long-term marketing strategy :

  1. Better long-term SEO

  Search engine optimisation is about implementing the “right” tactics to get your website to rank higher.

  The funny thing is many people are trying to get quick fixes by manipulating search engines to see results now.

  However, the ones who implement shady tactics and “hacks” to game the system almost always end up losing their rankings in the long term. 

  The best long-term SEO strategy is to do things ethically. Create content that helps people. Make higher quality content than your competitors. If you do those two things right, you’ll have better search traffic for years.

  2. Great brand reputation

  Not only is ethical SEO a great way to get long-term results, but it’s also a good way to maintain a solid brand reputation.

  Reputation management is a crucial aspect of SEO. All it takes is one bad incident, and your SEO could be negatively impacted.

  3. Lower chance of penalties

  If you play by the rules, you have a lower risk of being penalised by Google.

  The reality is that Google owns the search engine, not you. While we can benefit from the traffic generation of major search engines, you could lose all your rankings if you break their guidelines.

  Track SEO data ethically with Matomo

  Ethical SEO is all about :

  • Serving your audience
  • Getting better traffic in the long run

  If you fail to follow ethical SEO practices, you could be de-ranked or have your reputation on the line.

  However, if you implement ethical SEO, you could reap the rewards of a sustainable marketing strategy that helps you grow your traffic correctly and increase conversions in the long term.

  If you’re ready to start implementing ethical SEO, you need to ensure you depend on an ethical web analytics solution like Matomo.

  Unlike other web analytics solutions, Matomo prioritises user privacy, maintains transparent, ethical data collection practices, and does not sell user data to advertisers. Matomo provides 100% data ownership, ensuring that your data remains yours to own and control.

  As the leading privacy-friendly web analytics solution globally, trusted by over 1 million websites, Matomo ensures :

  • Accurate data without data sampling for confident insights and better results
  • Privacy-friendly and GDPR-compliant web analytics
  • Open-source access for transparency and creating a custom solution tailored to your needs

  Try Matomo free for 21-days. No credit card required.

  Try Matomo for Free

  21 day free trial. No credit card required.

  
  

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• How to Track Website Visitors : Benefits, Tools and FAQs

  31 août 2023, par Erin — Analytics Tips, Marketing

  Businesses spend a ton of time, money and effort into creating websites that are not only helpful and captivating, but also highly effective at converting visitors. They’ll create content, revise designs, add new pages and change forms, all in the hope of getting visitors to stay on the site and convert into leads or customers.

  When you track website visitors, you can see which of your efforts are moving the needle. While many people are familiar with pageviews as a metric, website visitor tracking can be much more in-depth and insightful.

  In this article, we’ll cover how website visitor tracking works, what you can track, and how this information can improve sales and marketing results. We’ll also explain global privacy concerns and how businesses can choose the right tracking software. 

  What is website visitor tracking ? 

  Website visitor tracking uses software and applications to track and analyse how visitors interact with your website. It’s a vital tool to help businesses understand whether their website design and content are having the desired effect.

  

  Website visitor tracking includes very broad, non-specific data, like how many times visitors have come to your site. But it can also get very specific, with personal information about the user and even recordings of their visit to your site. Site visits, which may include visiting several different pages of the same site, are often referred to as “sessions.”

  Although Google Analytics is the most widely used website visitor tracking software, it isn’t the most comprehensive or powerful. Companies that want a more in-depth understanding of their website may need to consider running a more precise tool alongside Google Analytics, like Matomo.

  As we’ll cover later, website tracking has many important business applications, but it also poses privacy and security concerns, causing some states and countries to impose strict regulations. Privacy laws and your company’s values should also impact what web analytics tool you choose.

  How website tracking works

  Website tracking starts with the collection of data as users interact with the website. Tracking technologies like cookies, JavaScript and pixels are embedded into web pages. These technologies then gather data about user behaviour, session details and user actions, such as pageviews, clicks, form submissions and more.

  More advanced tracking systems assign unique identifiers (such as cookies or visitor IDs) to individual users. This enables tracking of user journeys across multiple sessions and pages. These detailed journeys can often tell a different story and provide different insights than aggregated numbers do. 

  All this collected data is transmitted from the user’s browser to a centralised tracking system, which can be a third-party web analytics tool or a self-hosted solution. The collected data is stored in databases and processed to generate meaningful insights. This process involves organising the data, aggregating metrics, and creating reports.

  Analytics tools process the collected data to generate reports and visualisations that provide insights into user behaviour. Metrics such as pageviews, bounce rates, conversion rates and user paths are analysed. Good web analytics tools are able to present these insights in a user-friendly way. Analysts and marketing professionals then use this knowledge to make informed decisions to improve the user experience (UX).

  Advanced tracking systems allow data segmentation and filtering based on various criteria, such as user demographics, traffic sources, devices and more. This enables deeper analysis of specific user groups. For example, you might find that your conversion rate is much lower when your website is viewed on a mobile device. You can then dig deeper into that segment of data to find out why and experiment with changes that might increase mobile conversions.

  3 types of website tracking and their benefits

  There are three main categories of website tracking, and they each provide different information that can be used by sales, marketing, engineering and others. Here, we cover those three types and how businesses use them to understand customers and create better experiences.

  Website analytics 

  Website analytics is all about understanding the traffic your website receives. This type of tracking allows you to learn how the website performs based on pageviews, real-time traffic, bounce rate and conversions. 

  For example, you would use website analytics to determine how effectively your homepage drives people toward a product or pricing page. You can use pageviews and previous page statistics to learn how many people who land on your homepage read your blog posts. From there, you could use web analytics to determine the conversion rate of the call to action at the end of each article.

  

  User behaviour

  While website analytics focuses on the website’s performance, user behaviour tracking is about monitoring and quantifying user behaviour. One of the most obvious aspects of user behaviour is what they click on, but there are many other actions you can track. 

  The time a user spends on a page can help you determine whether the content on the page is engaging. Some tracking tools can also measure how far down the page a user scrolls, which reveals whether some content is even being seen. 

  Session recordings are another popular tool for analysing user behaviour. They not only show concrete actions, like clicks, but can also show how the user moves throughout the page. Where do they stop ? What do they scroll right past ? This is one example of how user behaviour data can be quantitative or qualitative.

  Visitor information

  Tracking can also include gathering or uncovering information about visitors to your site. This might include demographic information, such as language and location, or details like what device a website visitor is using and on which browser they view your website. 

  This type of data helps your web and marketing teams make better decisions about how to design and format the site. If you know, for example, that the website for your business-to-business (B2B) software is overwhelmingly viewed on desktop computers, that will affect how you structure your pages and choose images. 

  Similarly, if visitor information tells you that you have a significant audience in France, your marketing team might develop new content to appeal to those potential customers.

  Use website visitor tracking to improve marketing, sales and UX 

  Website visitor tracking has various applications for different parts of your business, from marketing to sales and much more. When you understand the impact tracking has on different teams, you can better evaluate your company’s needs and build buy-in among stakeholders.

  Marketing

  At many companies, the marketing team owns and determines what kind of content is on your website. From landing pages to blog posts to the navigation bar, you want to create an experience that drives people toward making a purchase. When marketers can track website visitors, they can get a real look at how visitors respond to and engage with their marketing efforts. Pageviews, conversion rates and time spent on pages help them better understand what your customers care about and what messaging resonates.

  But web analytics can even help marketing teams better understand how their external marketing campaigns are performing. Tracking tools like Matomo reveal your most important traffic sources. The term “traffic source” refers to the content or web property from which someone arrives at your site. 

  For instance, you might notice that an older page got a big boost in traffic this month. You can then check the traffic sources, where you find that an influential LinkedIn user posted a link to the page. This presents an opportunity to adjust the influencer or social media aspects of your marketing strategy.

  

  Beyond traffic sources, Matomo can provide a visual user journey (also known as User Flow), showing which pages visitors tend to view in a session and even in what order they progress. This gives you a bird’s-eye view of the customer journey.

  Sales

  Just like your marketing team, your sales team can benefit from tracking and analysing website visitor information. Data about user behaviour and visitor demographics helps sales representatives better understand the people they’re talking to. Segmented visitor tracking data can even provide clues as to how to appeal to different buyer personas.

  Sales leadership can use web analytics to gauge interest over time, tie visitors to revenue and develop more accurate sales forecasts and goals. 

  

  And it’s not just aggregated website tracking data that your sales team can use to better serve customers. They can also use insights about an individual visitor to tailor their approach. Matomo’s Visits Log report and Visitor Profiles allow you to see which pages a prospect has viewed. This tells your sales team which products and features the prospect is most interested in, leading to more relevant interactions and more effective sales efforts.

  User experience and web development

  The way users interact with and experience your website has a big impact on their impression of your brand and, ultimately, whether they become customers. While marketing often controls much of a website’s content, the backend and technical operation of the site usually falls to a web development or engineering team. Website analytics and tracking inform their work, too.

  Along with data about website traffic and conversion rates, web development teams often monitor bounce rates (the percentage of people who leave your website entirely after landing on a page) and page load time (the time it takes for an individual web page to load for a user). Besides the fact that slow loading times inconvenience visitors, they can also negatively affect your search engine optimization (SEO).

  

  Along with session recordings, user experience teams and web developers may use heatmaps to find out what parts of a page draw a visitor’s attention and where they are most likely to convert or take some other action. They can then use these insights to make a web page more intuitive and useful.

  Visitor tracking and privacy regulations 

  There are different data privacy standards in other parts of the world, which are designed to ensure that businesses collect and use consumer data ethically. The most-discussed of these privacy standards is the General Data Protection Regulation (GDPR), which was instituted by the European Union (EU) but affects businesses worldwide. However, it’s important to note that individual countries or states can have different privacy laws.

  Many privacy laws govern how websites can use cookies to track visitors. With a user’s consent, cookies can help websites identify and remember visitors. However, many web visitors will reject cookie consent banners. When this happens, analysts and marketers can’t collect information from these visitors and have to work with incomplete tracking data. Incomplete data leads to poor decision-making. What’s more, cookie consent banners can create a poor user experience and often annoy web visitors.

  With Matomo’s industry-leading measures to protect user privacy, France’s data protection agency (CNIL) has confirmed that Matomo is exempt from tracking consent in France. Matomo users have peace of mind knowing they can uphold the GDPR and collect data without needing to collect and track cookie consent. Only in Germany and the UK are cookie consent banners still required.

  Choosing user tracking software

  The benefits and value of tracking website visitors are enormous, but not all tracking software is equal. Different tools have different core functionalities. For instance, some focus on user behaviour over traditional web analytics. Others offer detailed website performance data but offer little in the way of visitor information. It’s a good idea to start by identifying your company’s most important tracking goals.

  Along with core features, look for useful tools to experiment with and optimise your website with. For example, Matomo enables A/B testing while many other tools do not.

  

  Along with users of your website, you also need to think about the employees who will be using the tracking software. The interface can have a big impact on the value you get from a tool. Matomo’s session recording functionality, for example, not only provides you with video but with a colour-coded timeline identifying important user actions.

  

  Privacy standards and compliance should also be a part of the conversation. Different tools use different tracking methods, impacting accuracy and security and can even cause legal trouble. You should consider which data privacy laws you are subject to, as well as the privacy expectations of your users.

  

  Some industries have especially high data security standards. Government and healthcare organisations, for example, may require visitor tracking software that is hosted on their premises. While there are many purely cloud-based software-as-a-service (SaaS) tracking tools, Matomo is available both On-Premise (also known as self-hosted) and in the Cloud.

  Frequently asked questions

  Here are answers to some of people’s most common questions about tracking website visitors.

  Can you track who visited your website ?

  In most cases, tracking your website’s traffic is possible. Still, the extent of the tracking depends on the visitor-tracking technology you use and the privacy settings and precautions the visitor uses. For example, some technologies can pinpoint users by IP address. In other cases, you may only have access to anonymized data.

  Is it legal to track someone’s IP address ?

  It is legal for websites and businesses to track someone’s IP address in the sense that they can identify that someone from the same IP address is visiting a page repeatedly. Under the General Data Protection Regulation (GDPR), IP addresses are considered personally identifiable information (PII). The GDPR mandates that websites only log and store a user’s IP address with the user’s consent.

  How do you find where visitors are clicking the most ?

  Heatmap tools are among the most common tools for learning where visitors click the most on your website. Heatmaps use colour-coding to show what parts of a web page users either click on or hover over the most.

  Unique tracking URLs are another way to determine what part of your website gets the most clicks. For example, if you have three links on a page that all go to the same destination, you can use tracking links to determine how many clicks each link generates.

  Matomo also offers a Tag Manager within the platform that lets you manage and unify all your tracking and marketing tags to find out where visitors are clicking.

  What is the best tool for website visitor tracking ?

  Like most tools, the best website visitor tracking tool depends on your needs. Each tool offers different functionalities, user interfaces and different levels of accuracy and privacy. Matomo is a good choice for companies that value privacy, compliance and accuracy.

  Tracking for powerful insights and better performance

  Tracking website visitors is now a well-ingrained part of business operations. From sales reps seeking to understand their leads to marketers honing their ad spend, tracking helps teams do their jobs better.

  Take the time to consider what you want to learn from website tracking and let those priorities guide your choice of visitor tracking software. Whatever your industry or needs, user privacy and compliance must be a priority.

  Find out how much detail and insight Matomo can give you with our free 21-day trial — no credit card required.

• 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.