How Web3 Will Soon Shape Fintech Onboarding

Fintech companies looking to tether customers to their platforms long-term will have no choice but to adopt web3 into their strategies. But how to do that? An easy solution would be to take advantage of the subdomain feature of the Ethereum Name Service (ENS).

With ENS, anyone can create subdomains of .eth domains that they own. It costs gas but the process is simple, simple enough that fintech companies may have an interest in offering a variety of custom ENS names for their customers to choose from.

And if they are successful in getting a customer attached to that name, well then that customer’s entire individual web3 identity will potentially live on the fintech company’s platform. In doing this, it may be smart to offer subdomains of a variety of top-level .eths, even if the branding is unrelated to the fintech company.

Imagine, for example, that a fintech company offered new customers the option to choose any username they want attached from the following options.

  • username.fntc.eth
  • username.rocknroll.eth
  • username.sofun.eth

A company that tires of its relationship with the fintech company might not feel compelled to change their web3 identity if perhaps rocknroll.eth is the domain their account is registered under. And thus the customer remains connected to the original fintech who controls that subdomain.

web3 signup