Can Finfluencers Earn from Trust Without Losing Credibility?

Financial influencers, commonly known as finfluencers, are becoming an important source of financial information for audiences across India. However, turning their influence into income while maintaining credibility remains a major challenge.

The issue gained attention after Securities and Exchange Board of India (SEBI) chairman Tuhin Kanta Pandey warned investors against relying on anonymous tips, misleading financial influencers and unrealistic return promises.

A May 2025 report by Boston Consulting Group estimated that India has 2–2.5 million active digital creators who influence more than $350 billion in consumer spending annually. Despite this growth, only around 8–10% of creators are estimated to monetise their content effectively.

At the afaqs! BankFin 360 conference, financial content creator and business mentor Abhishek Garg and Prashant Chaudhari, head of marketing at Fino Payments Bank, discussed how creators can build audience trust, promote financial products responsibly and develop sustainable revenue streams.

Trust Matters More Than Follower Counts

Garg, who has been creating financial content since 2018, believes financial information must be simple, practical and relevant to everyday life.

The growth of social media has made financial information more accessible, but it has also allowed unqualified individuals to promote misleading claims and unrealistic returns.

According to Garg, simply reporting financial developments is no longer sufficient. Creators must explain how those developments affect people in practical ways. For example, explaining how a Reserve Bank of India policy change could influence loan EMIs or household spending makes financial news more useful.

Chaudhari cautioned that consumers do not automatically trust influencers over financial institutions. While some rely on online creators, others conduct independent research. The challenge lies in identifying reliable information amid misleading promises.

At Fino Payments Bank, influencers help generate awareness and attract potential customers, while the bank's extensive merchant network plays an important role in building relationships and trust. With around 20 lakh merchants across India, Fino relies on neighbourhood shopkeepers who often have established relationships with local customers.

Chaudhari emphasised that trust comes not only from a brand but also from the people delivering its services.

The Responsibility Behind Financial Influence

The discussion also explored the distinction between financial education and financial advice.

Garg believes creators have a responsibility to ensure their content does not encourage harmful financial decisions. Before promoting a product, he considers whether he would use it himself or recommend it to his family, whether it could negatively affect someone's finances and whether it offers genuine value.

He also avoids promoting unregulated offerings, including unauthorised forex trading platforms.

As brands become more selective, follower counts alone are no longer enough to secure partnerships. Expertise, credibility and audience trust are becoming increasingly important considerations.

Chaudhari noted that consumers must exercise judgement when acting on financial content, but creators also need to recognise the responsibility that comes with their influence.

He suggested that social media platforms could introduce verification systems similar to badges for registered financial professionals. Such measures could help audiences distinguish qualified experts from other creators, although verification alone would not guarantee credibility.

Monetising Trust Sustainably

Garg believes earning money and maintaining credibility can go hand in hand. Rather than accepting numerous promotional deals, creators can focus on fewer partnerships that offer greater value and align with their principles.

For example, a creator might choose three higher-value partnerships instead of ten smaller deals, prioritising the quality of brand associations over the quantity of promotions.

Creator marketing can also deliver long-term benefits beyond immediate sales. A credible recommendation may improve brand recall and influence a consumer's purchasing decision weeks or months later.

However, creators must treat their work as a business and prepare for market fluctuations, regulatory changes and variations in brand partnerships. Garg also highlighted the importance of managing personal finances responsibly and maintaining an emergency fund.

He cautioned that compromising credibility for short-term gains can damage the relationship creators build with their audiences.

What Brands Look for in Finfluencers

For brands, selecting financial creators requires more than evaluating reach and engagement.

Chaudhari explained that Fino Payments Bank assesses creators across three key areas: values and ethics, qualifications and expertise, and storytelling ability.

These factors are particularly important when promoting financial products such as savings accounts, which may require creative communication to capture audience interest.

Creators must make such products relevant and engaging without making exaggerated promises or misleading consumers.

Ultimately, the discussion highlighted that sustainable monetisation depends on aligning commercial partnerships with audience interests. For finfluencers, maintaining credibility is not simply an ethical responsibility; it is also essential to building long-term relationships with brands and followers.