How AU Small Finance Bank built on change as an intrinsic brand philosophy

India’s largest SFB, providing innovative banking solutions, AU Small Finance Bank (AU SFB), has recently launched a new ad film – Soch Badlo Aur Bank Bhi – under its 'Badlaav Humse Hai' campaign, featuring Kiara Advani. The ad film is a reinforcement of its Badlaav Humse Hai campaign ideology of challenging traditional banking practices with a quirky approach to conveying the message of making smart banking decisions with AU Small Finance Bank.

L&K Saatchi & Saatchi is the creative agency behind the campaign, which was entrusted with giving an innovative and fresh outlook to the Umbrella campaign - Badlaav Humse Hai. The marketing mix of the campaign includes three major components – Savings Account with AU Small Finance Bank offering monthly interest payment with competitive interest rates of 7.25% per annum, Current Account with which it provides an all-encompassing financial toolkit to businesses to meet their requirements and Video Banking  Services where it offers 24*7 online banking services, meeting the banking needs of the customers.

The objective of this campaign is to position AU Small Finance Bank as offering differentiated and tech-led products which are reflected in its marketing activities and campaigns and to deliver the message that it prioritizes customer wellbeing and convenience above everything else, by providing superior customer experience and higher returns.

In conversation with Adgully, Uttam Tibrewal, Executive Director, AU Small Finance Bank, speaks about the campaign also indicates the paradigm shift with the inclusion of women in financial decision-making. Excerpts:

What sets "Soch Badlo aur Bank Bhi" apart from other banking campaigns or initiatives? How does the campaign aim to change the perception of traditional banking through its unique value proposition?

At AU Small Finance Bank, we believe in Badlaav Humse Hai as an intrinsic brand philosophy, that we put into action by challenging the status quo in banking practices. This has helped us launch innovative product solutions for our valued customers, with 100 percent regulatory compliance. This was encapsulated in our previous brand campaign i.e. 'Badlaav Humse Hai' and is now extended in our new tactical theme - 'Soch Badlo aur Bank Bhi'.

What sets this campaign apart is that it is fresh in its feel, has an element of fact mixed with little fun, and, most importantly, connects well to the issues viewers face. Additionally, the campaign re-emphasizes our 'Badlaav Humse Hai' philosophy with Actor Kiara Advani taking forward the brand message and symbolizing the paradigm shift of involvement of women in financial decision-making.

Could you describe the key components of the marketing strategy employed for the launch of "Bank Badlo Soch Badlo"? Which creative agency has conceptualized the campaign and what was the brief given to them?

The campaign urges consumers to question their banking choices, showcasing how our tech-led customer-centric offerings suit their requirements.L&K Saatchi & Saatchi is the creative agency that has conceptualized the campaign & the brief given to them was to retain the essence of Badlaav Humse Hai and provide a fresh & young outlook towards this philosophy.

What product or service offerings are included in the marketing mix for "Bank Badlo Soch Badlo"?

The campaign touches on 3 key aspects of our offerings:

Savings Account - Monthly Interest Payment:

This theme highlights AU Small Finance Bank's commitment to providing customers with more than just a Savings Account. With monthly interest payments and competitive interest rates of up to 7.25% per annum, the bank encourages individuals to make their money work harder for them.

Current Account - Customized Business Solutions:

The 'Current Account' commercial reflects AU Small Finance Bank's focus on empowering businesses with a comprehensive financial toolkit. The campaign illustrates how AU Small Finance Bank's Current Account solution caters to diverse business requirements. From digital payment solutions to customized deposit limits, it reaffirms the bank's commitment to enable customer success.

Video Banking - 24x7 Convenience:

This commercial highlights how AU Video Banking has introduced a new era of banking convenience, wherein customers can access a wide range of banking services 24x7 without visiting a branch. Thus, avoiding the hassles of traveling for their banking needs and having access to this facility anywhere anytime.  It underlines AU Small Finance Bank's digital transformation and dedication to accessible, efficient, and convenient banking services.

Could you provide examples of recent or past marketing initiatives and how these recent initiatives impacted the brand visibility and engagement with the audience?

As I mentioned earlier, our new campaign is an extension of our previous Badlaav Humse Hai campaign. This campaign, which was also holistic and oriented towards reach, helped establish awareness about our brand across geographies. Thus, helping us establish our brand presence, in sync with our expanding presence. It was well appreciated for clarity of communication and more importantly the positioning, which centered around asking the right questions, which become the bedrock of positive progress.  

What are the planned future marketing activities for AUSFB in the coming year?

As a Bank oriented towards our customers, we keep on developing innovative, differentiated, and tech-led products to bring delight to our customers. Our marketing activities will be centered around ensuring that there is awareness of the brand and consideration for our offerings. For example, we recently launched the 'Heart to Cart' Shopping Festival, partnering with 30 leading brands in India to provide discount offers to our customers during this festive season.

What industry trends is AUSFB leveraging to ensure the campaign's success and how it aims to influence consumer behavior regarding banking and financial decisions?

As a regulated industry, most of the products in banking are standardized. With this campaign, we intend to position the bank as an innovative & technology-led brand that understands the unsaid customer needs and delivers superior customer experience by providing higher returns & convenience.