The popular fintech news publication backed by the Fincajil Times Newspaper with a huge number readership which also has more than 17500 followers on Twitter has recently come into the news because growing Europe’s fintech community have shown special interests stating that Sifted.eu is doing more harm than any good. The approach is not liked by many critics. In one of the recent articles, Isabel Woodford published a negative article about various things regarding the Fintech industry. This has now become a worrying trend for many fintech start-ups as this is damaging their reputation.
There are various such articles. In one of the articles, Isabel wrote “May have just hit 7m customers, but its 2019 accounts suggest it’s paying a high popularity price.” The article also claimed that the N26 global operational loss saw an increase of 210% which was €217m. This was pointed to the German digital bank N26.
In her next article, she claimed that Fintech Curve has delayed filing their annual account. The article stated that one of the most valuable fintech firms had to submit the accounts by December 31st which was further granted extensions in March and October.
These two are not the only articles. There was yet another article about Klarna’s CEO. The exact title of the article reads Klarna’s CEO: I worry about debt too. I know we’re not perfect.” The line was quoted with the context of borrowing the money. The article further read “If we don’t charge [fees] in the UK, are we doing a good thing? Or are we encouraging people? We’re trying to find a balance.” The entire article was on the same topic.
Due to not one but multiple negative articles about Fintech industries have kept people wondering about the intentions of the journalist. Whether it was pre-planned and she desired to pull down so many huge fintech companies, that too between the global pandemic? The question has made many key people wonder about Isabel Woodford. The fintech industry is doing great and the trend has increased due to the global pandemic. People are starting to use digital platforms for all their financial needs. In the middle of this pandemic, such negative articles have made many people scratch their heads and rethink the entire situation and journalism. When a big journalist does anything similar, people often wonder about the rest of the trend after these articles.
One of many sources in the Fintech industry says, “Unfortunately, Sifted.eu seems to be under the influence of big businesses and special interests, aggressively attacking new companies, whilst lavishing praise on more established players. Whilst we understand that that’s the way the world works, it’s hardly fair and accurate journalism.”
So, the question is, will Sifted.eu take steps to clear the mistake and use a better approach for journalism or they will continue with the same thing? Everyone is waiting for the response and waiting to see what happens next.