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Cold Email Templates for Banks and Financial Services

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Jan 31, 2023Updated: Feb 09, 2023
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If you adhere only to the basic recommendations on how to stand out from the crowd while writing your emails, this can turn out to be ineffective. Therefore, we recommend finding your forte and considering the specifics of the industry your business operates in.


Moreover, the business type and the industry you target play an essential role in your outreach email campaigns. In this article, we’d like to share our insights and expertise based on successful cold emails explicitly tailored to clients from the financial sector. Let’s see what works and what is not worth applying in your emails, what approaches are likely to hit your prospect, and why it is important to identify your ideal customer profile before the outreach. If you want to skip our tips, check out our customized templates you can incorporate into your finance outreach campaign.


In this article you'll find out:

  • Guide for writing effective cold email templates for banks and financial services
  • Specifics of the industry and business type to be targeted in outreach email campaigns
  • Successful approaches for fintech startups and classical financial services
  • Finance email templates with high open rates

What approach is more valid for pitching financial services and products? (Templates included)


Dealing with our clients from the finance industry, we noticed certain peculiarities and similarities in the companies and their businesses that led us to delineate the approaches for classic financial services and fintech startups separately. 


Fintech startups


Due to digital transformation, almost any type of business must adapt to changing paradigms and implement solutions to disrupt highly competitive markets. FinTech startups are business drivers that know how to invest in the right technology and transparently communicate, enhance and streamline various financial services. 


Amid fast-paced market growth, there is a prodigious demand for innovative solutions to cut costs on financial operations. Therefore, investors are highly interested in such startup solutions anticipating high demands among businesses. This, in turn, gives the startup owners certainty of the quality of their services or products, which makes the outreach success rate in this niche relatively high.


We help fintech startups in such areas as neo-banks, wealth management services, payment systems, crypto platforms, and others. The selection of the approach depends on the target audience: 


       1. Targeting small and midsize businesses (BMSs):

  • The referral approach is our classical model of outreach. It allows you to find the appropriate title in the company you reach to, whose competency and interest will be relevant to your request, and vice versa. For example: I'm searching for the person at {{Company}} to discuss enlarging the payment stack with a crypto payment option at {{Company}}. Would it be you or {{Referral_Name}}?

  • The referral + Case study approach works great if you have a variety of success stories that you can modify in the templates and tailor to the prospects’ industries. So if, for instance, you target companies in the software technology industry, you mention your clients in this exact industry.

       2. Targeting large enterprises:

  • Face-to-face meeting approach. Offering your prospects to meet in person somewhere nearby their locations tells about your readiness to devote your time to the face-to-face meeting (F2F). This is an old classic model of building the network that will likely resonate with such a target audience.

  • Event-oriented campaign. If your prospect plans to attend a business event, you can use this opportunity to set up an offline meeting at this event. 


Classical Financial Services


This category encompasses banks, loans, and credit unions. The best-performing approaches for these financial institutions are the following:


  • General - this approach allows for a simple and straightforward outreach model where you outline the description of your services and ask your prospects if they are interested in learning more. 


  • Referral - the same approach we mentioned before - works excellently for industry-leading businesses. 


Finance email templates 


Wave 1

Subject line A: you or {{Referral_Name}}

Subject line B: should I be speaking with {{Referral_Name}}?

Hi {{FirstName}},

Are you, {{Referral_Name}} or someone else on your HR team researching or testing any compensation software as an alternative to your current legacy platform?

I'd like to introduce {{Company}} to {{Company}}, a software company created by {{Company Name}} and {{Company Name}} compensation experts as a "next-gen" service that allows you to market price your jobs at scale with less manual work.

{{Client 1}} and {{Client 2}} use {{Company}} to achieve fast, accurate results and analyze all jobs across families to adjust pricing in a few clicks.

Even if you have an existing platform, I’d love to provide a quick intro to {{Company}}, to “plant a seed” for the future. Would {{weekdays_from_now 3}} work for a quick intro chat?



Wave 2 - Same thread


Just a quick follow-up to my previous note.

Would {{weekdays_from_now 3}} at 1 PM work for a quick demo of {{Company}}?



Wave 3

Subject line A: market price jobs 90% faster

Subject line B: an overview for {{Company}}

Hi {{FirstName}},

Has {{Company}} been able to find a suitable platform to market price {{Company}}’s jobs at scale?

{{Company}} was founded by industry professionals and former executives from PayFactors and MarketPay, whose collaborative efforts resulted in a 24x quicker market pricing procedure for our clients like {{Client 1}}, {{Client 2}}, and {{Client 3}}.

With {{Company}}, {{Company}} can revolutionize the way you use compensation data and establish an agile control over large-scale data flows to perform market pricing at scale.

I’d love to show you a quick demo of all the features and how they can speed up {{Company}}’s market pricing processes. Can we meet online {{weekdays_from_now 3}} at 4 pm?



Wave 4 - Same thread

Hi {{FirstName}},

I’m circling back one last time to see if you may have any questions about {{Company}} and how it can eliminate manual work from your market pricing process, provide the world’s best survey data, and deliver insightful reporting to help {{Company}} market price your jobs at scale

Can we maybe schedule a quick demo and Q&A session on {{weekdays_from_now 3}} at 12 pm?



Wave 5

Subject line A: comp geeks in {{State}}

{{FirstName}}, I’m getting a feeling that a discussion doesn’t make sense at this moment but I'd love to continue this conversation if and when {{Company}} begins looking at compensation platforms again.

Because we work in the same field and I believe in maintaining a sense of community among comp geeks, I'd like to invite you to a brief interview to discuss the main bottlenecks and pain points you encounter when pricing jobs – input from industry experts like yourself is always valuable and beneficial to the entire market.

Would you have time on {{weekdays_from_now 3}} for a friendly chat?



6 Mistakes and solutions while reaching out to your prospects


To write outstanding finance email templates, you must be aware of the mistakes that lead to failures and solutions you can rely on instead.


Mistake 1: Pitch your product to as many industries as possible. 

Solution: Your main goal is to craft a Value Proposition that can be offered to the right people and be relevant and tailored specifically to them.


Mistake 2: Empty and corny openings. 

Solution: Hi, how are you doing?” is an inappropriate tone of voice for any industry you target. Instead, be straight to the point, and don't waste the space in your template for empty words.


Mistake 3: Overwhelming your prospects with your product details and benefits in one email. 

Solution: Your primary aim in the cold email must be starting a good conversation and building networking opportunities, not selling the product directly. 


Mistake 4:  Disqualifying the prospect from getting in touch for future perspectives once you get a refusal or ignorance of your messages. 

Solution: Refrain from burning bridges even if you know there is a tough chance of building rapport. 1-2 messages are inefficient for disclosing all the necessary details about your offer without being too clingy. Instead, keep on with follow-ups that can bring you more results.


Mistake 5: Cramming one email copy with as many nitty-gritty details as possible.

Solution: Reasonably portion your email copies. That’s why our main rule is to create a customized email cadence allowing us to harmonically combine an opening, value proposition, and closing. Don’t hurry up!  If you have a lot to say, that doesn’t mean it is worth cluttering everything in one message. 

Mistake 6: Including your case studies as attachments. 

Solutions: First of all, attachments affect deliverability rates since they are identified via anti-spam filters as spam. Secondly, put yourself in the shoes of your prospect. Are you ready to open the attached file from the sender you never had a common ground with? Finally, succinctly incorporate your case studies throughout the text, indicating the outcomes that will resonate with your prospects or your clients' companies' names that are relevant to your prospects’ business. 





Before reaching out to prospects with your financial services or products do thorough research on your target audience, their pain points, and business goals. Afterward, craft your cold email templates based on the insights you obtained. A good copy is NOT the one that differs from the rest and is creative - it is characterized by high relevancy, tailored value proposition, and appropriate approach utilization. One more crucial factor that entails a response rate increase in your emails is consistent follow-ups and holistic email sequences split into harmonically connected waves of outreach. 


Let us help you write email templates precisely for your requirements. If you do need help in determining your ideal customer profile or learning more about your target audience, contact us - our cold email experts will set the right direction. 


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What approach is more valid for pitching financial services and products? (Templates included)

Finance email templates 

6 Mistakes and solutions while reaching out to your prospects

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