BankBulb Monthly Report_January 2021

Page 1

THE MONTHLY REVIEW OF NOTABLE BANK PRODUCTS, SERVICES, INNOVATIONS & CAMPAIGNS JANUARY 2021 PERSONAL BANKING 02 - 08….….Digital, Innovation & Customer Experience 09 - 16.….....Products (Deposits, Cards, Loans, Payments)

INVESTING / WEALTH MANAGEMENT 17 - 19..........Innovations, Products, Services and Campaigns

BUSINESS BANKING 20 - 23……..Innovations, Products, Services and Campaigns

GROUP BRAND 24 - 25…..…News and Campaigns Highlights from this edition: • Discovery Bank highlight their pioneering banking proposition (p. 2) • Quirk PFM advice based on understanding of user personality (p. 3) • Tinkoff enables change of virtual assistant name and gender (p. 4) • Citi Quick Cash loans available on SE Asia’s leading super app (p. 5) • Revolut & N26 offer pandemic travel insurance as extra benefit (p. 8) • Chime offer new method for receiving a metal card (p. 11) • Axis Bank & YES Bank launch wellness focused credit cards (p. 12) • OCBC offers Singapore’s first Solar Panel Consumer Loan (p. 14) • ABN AMRO makes impact investing easy for to individuals (p. 17) • BMO launch MyESG™ to help people consider ESG investing (p. 18) • ICICI Bank platform for foreign companies setting up in India (p. 20) Notes: • Produced by BankBulb a marketing brand of Otaara Ltd. • Featured advertisements and marketing materials are sometimes shown without the accompanying disclosure copy. This is done for space layout reasons. • Articles marked with a point to a particularly noteworthy initiative.



Discovery Bank shows why its Shared Value concept makes it a bank like no other (South Africa) Discovery Bank has released a new multi-media campaign focused on their unique concept in banking and the foundation of the Bank - that it is no ordinary bank, it is a shared-value bank. The Bank's unique way of incentivising, measuring and rewarding client's financial behaviours is inspired by the Discovery Group’s Vitality Shared-Value Insurance model - encouraging customers to be financially healthy and rewarding them for their efforts through its Vitality Money rewards program. Customers are incentivized to make shrewd financial choices to help them advance through the bank’s Vitality status levels – meaning the better they are at maintaining strong financial health, the more they are rewarded. These rewards vary from dynamic interest rates to flight and gym discounts. Firoze Bhorat, Chief Marketing Officer at Discovery, says, 'Discovery Bank is...essentially creating a new category of banking around shared-value to make a real difference in our clients' lives as well as in society; consistent with our core purpose of making people healthier and enhancing and protecting their lives. This new campaign...highlights every aspect of how Discovery Bank shares continual value with clients in meaningful ways.' The headline TV spot of the new campaign unpacks shared-value as a concept in banking. It visually displays how its technology, its behaviour-change platform and its personalised services and features converge to create a shared-value bank. The campaign also used a range of shorter adverts to focus on specific rewards and features. As a whole, the campaign highlights how shared-value banking coupled with world-class digital banking platform enables Discovery Bank to quantify and monetise the value of lower financial risk and return this to banking clients in the form of real financial gains, whether they be better interest rates on credit borrowing and savings, or unprecedented discounts at partners and Discovery Miles rewards. 'Our clients have the tools to manage their money well through Vitality Money and they know that by managing their money well, they become more financially resilient.' says Bhorat. The headline TV spot (watch here) will be supported through radio, digital and OOH. Discovery Bank launched in 2019 calling itself the “World First Behavioural Bank.” BankBulb opinion: Changing consumer behaviour is never easy. Often, people require compelling incentives to adjust their lifestyle choices for the better. These days, digital tools that allow people to track their fitness levels, dietary habits, sleeping patterns and more have proliferated globally, increasing individual awareness of how good habits can positively influence their overall wellbeing. Coupling improved lifestyle routines with financial well-being has become increasingly entrenched in health and life insurance through global programs like Vitality, so taking this behavioural nudging concept into the banking sphere is a fascinating next-stage and opportunity to increase financial literacy and confidence. We are confident that 2021 will be the year we start to see a marked increase in banking solutions tied to health and wellness. Some examples - that we've previously highlighted on BankBulb - include recent launches of Axis Bank Aura credit card and YES Bank Wellness credit card and Emirates NBD's coupling of a customer's savings interest rate with the customer's fitness activity.

TV spot screenshots demonstrating 'Shared Value' with the Bank increasing savings interest rates and decreasing credit interest rates based on customer behaviours



Quirk advises users on money management through an understanding of each customer's personality (UK) Quirk - which just secured pre-seed funding from SFC Capital and angel investors - has a differentiated angle for approaching PFM. To help its users (currently about 1,000 Beta testers) the Quirk app uses a unique personality test – based on wellaccepted psychological principles such as the “big five” personality traits – to understand users in detail and deliver personalised advice. New users first take The Money Personality Test which consists of 25 simply questions and takes participants about three minutes to complete.

After taking the test, participants are immediately shown their results for which personality trait they correspond to, from: The Optimizer, The Explorer, The Artist, The Blissful.

Taking the test, I found out I am 'The Explorer' personality type which after reading through the personality profile (shown on right) I think captures my personality pretty well! More than 10,000 people have taken Quirk’s “money personality test” since launch in April last year, with an average rating of 4.5/5 for accuracy from 5,000 reviews and 86% of respondents saying it described them accurately. Once the test is completed, Quirk then invites users to connect their bank accounts - using Open Banking - so that the app can monitor their finances and provide ongoing personalised recommendations. Quirk's claim is that by understanding their customers' personality types the app will help customers spend smarter, offering a new way of creating a budget by focusing on a monthly spending goal, with insights for each personality type. BankBulb opinion: This is a fascinating and essential learning for banks and other PFM providers, many of which have segmented their users based on lifestyle and life stage data points; But, to truly offer effective personalisation, understanding the reasons behind customer decisions and choices is essential, and Quirk is showing a way to do so.



Standard Chartered promote digital solutions with #TechItEasy campaign (India) Standard Chartered is promoting the ease and speed of using the bank's app for applying for a credit card or personal loan under a campaign title #TechItEasy. In the below print ad placed on the front page of The Times of India on 25 January 2021 the focus is on the ability to get a Virtual Credit Card through applying on the app, then filling in the digital form followed by a "quick" Video KYC.

Tinkoff customers can personalise their virtual assistant’s name, voice and gender - creating an emotional connection between customer and digital experience (Russia) Tinkoff Mobile has launched a new 2.0 version of its Print Ad voice assistant Oleg, which enables customers to create their own mobile concierge. With the new version of the voice assistant, customers can choose the assistant’s name, voice and gender plus set up instructions to handle different calls from people on their contact list, as well as calls from unknown numbers, create their own greetings, and so on. Users can choose how Oleg will introduce them when answering calls by setting up their name, personal description, alias, job title, etc. They can also instruct the assistant on how to handle calls from different contacts. For example, Oleg can tell a caller that he will pass on a message to the Tinkoff Mobile customer if someone from outside this customer’s contact list is calling, . But when answering a call from a known number, the assistant can also refer to the customer by nickname, such as Kostya, Crutch or Super Boss, or any other nickname the customer prefers to be addressed by for a specific person from the contact list. Customers can also customise greetings and conversational phrases (up to 400 characters) for the assistant when communicating with people. Customers can either welcome their callers with default greetings or set up their own conversation scripts to be used by the voice assistant. Different greetings can be set up separately for numbers on the contact list and for unknown numbers. Oleg will be able to greet those on the contact list by name. The assistant also knows how to identify specific contacts, even if their name is not recorded in the contact list fields as a first and a last name. For instance, when Sveta Eyebrows calls, Oleg will say: "Hi, Sveta, Sasha cannot answer. I am Oleg, the assistant. Do you want to leave a message?" In case of a contact with no specific name such as, for example, Flower Delivery, Oleg will use a default greeting without calling the contact by name. BankBulb opinion: This pioneering effort is certain to become to the norm over the coming years. With consumers increasingly using digital channels, Tinkoff understands the importance of forging and maintaining a digital experience that creates a personal and emotional connection for customers. Enabling this personalised connection helps reduce the threat of digital commoditisation, where consumers focus solely on price.

DIGITAL, INNOVATION & CX Citi make Citi Quick Cash loans available through Grab, Southeast Asia’s leading super app (Singapore) Citi and Grab, Southeast Asia’s leading super app, have expanded their partnership in consumer lending with the launch of the bank’s first API-enabled lending capability with Grab in Asia Pacific. Beginning with Singapore with more markets in the region to follow, existing and eligible Citi credit card customers can apply for a personal instalment loan (Citi Quick Cash) through the Grab app via API. Customers who meet Citi’s lending criteria can now seamlessly apply for a loan from Citi through the Grab app, with flexible repayment options ranging from 12 to 60 months. Citi Quick Cash enables eligible customers to convert the available credit limits on their respective Citi credit cards into a cash loan that is payable in monthly instalments. Currently, most of the Citi Quick Cash loan applications in Singapore are already acquired digitally. With the API connectivity, eligible customers are able to perform select actions on a partner’s digital e-commerce site or app, using a secured connection developed, controlled and owned by Citi. When a Citi Quick Cash application is initiated through the Grab app, the information is then sent to Citi through the APIs where the loan will be processed, reviewed and disbursed by Citi. “Citi is proud to be the first banking partner to offer personal loans on the Grab app. Our partnership with Grab has progressed from strength to strength as we continue to expand our presence in digital ecosystems,” said Sanjay Nambiar, Regional Head of Partnerships, Asia Pacific and EMEA, Citi. As a launch offer, customers can get up to S$500 cashback from Citi in your GrabPay Wallet on approval.

05 Santander's new ad transforms Ant and Dec into 1980s video game characters to promote My Money Manager (UK) In November 2020, Santander launched My Money Manager, an AI driven tool integrated into Santander UK’s mobile banking app that delivers personalized, data-driven insights into customer finances. The app learns as it is used, incorporating customer behavior, preferences, and feedback to provide alerts and tips to help keep users on track. Among the features of My Money Manager are expected deposit dates for recurring payments, push notifications for changes in scheduled payments, purchase analysis – including insight into category spending – as well as notification of expiring subscriptions and cards. Now to promote the solution, the latest instalment of Santander's campaigns featuring TV presenters Ant McPartlin and Declan (Dec) Donnelly in their Bank of Antandec series. In this campaign Ant and Dec switch between virtual reality, becoming avatars of a 1980s style video game, and their in-person roles as CEOs of their own bank of Antanddec, as they are determined to take ‘digital’ to the next level. The message is that while Ant and Dec create chaos, Santander is concentrating on keeping the digital stuff simple by benefiting real customers with the launch of the new My Money Manager tool in its Mobile Banking app.

Dan Sherwood, director of marketing at Santander, said: “Ant & Dec return to our screens in their now familiar roles as CEOs of the Bank of Antandec taking on a new challenge, a digital one. Not only has their strategy changed, but so have they … and we get to see them for the very first time as avatars in the world’s first ever virtual bank.”



ASB new campaign demonstrates the different ways they’ve been helping Kiwi kids get cash clever (New Zealand) ASB has launched its new campaign showcasing different ways they’ve been helping Kiwi kids get cash clever. Set in the summer of 1994, the spot features brand characters in Ben and Amy, at the time of their first meeting, with Ben saving his pennies into an ASB money bank to buy a present for Amy. Fast forward to current times and we are shown the evolution of the old money bank to the highly awarded ASB digital money box Clever Kash (featured multiple times on BankBulb) which is cashless and digitally connected to the child's ASB savings account. Screenshots from TV spot Clever Kash is an easy to use digital money box and free for Kiwi kids. Its design aim is to help kids learn about money in an increasingly cashless world in a way that is fun and interactive. Clever Kash links to an ASB savings account and enables kids to set savings goals and see their savings balance grow through a progress bar in the ASB app.

Snapshot from Clever Cash website

DBS offers ease and cash rebates for customers who settle tax bills for themselves and family members via DBS (Hong Kong) For this tax season, DBS Hong Kong has rolled out a campaign encouraging members to leverage the bank's platform to settle their payments with a number of rewards. To make it easier to reach the level required to earn the rewards of the campaign, DBS Hong Kong allows participants to gather tax bills from their family members for a higher total payment. The campaign "Family as One" invites users to pay taxes by scanning the FPS QR code on their family’s tax, rates or government rent bills via the dedicated DBS iWealth app or the bill payment services in DBS iBanking. Participants can enjoy cash rebates and also have the chance to enter a lucky draw after paying the tax of at least HK$50,000. The more taxes they pay at DBS, the higher the chances they will have to win a prize.



NatWest soft launches "Tomorrow Begins Today" encouraging small steps to build financial security (UK) NatWest unfurled a new brand campaign ‘Tomorrow Begins Today’ #TomorrowBeginsToday that will show how NatWest empowers customers to take small, simple steps, right now, so customers can achieve their goals for tomorrow sooner. For example: "Set up a budget in the NatWest app today, so you can track what you spend tomorrow" which can make a positive difference to your financial future. ‘Tomorrow Begins Today’ is an aspirational promise, that NatWest will empower you to get where you want to be, and a rallying cry to stop procrastinating and take action. After all, starting can often be the hardest part, especially when it comes to getting your money in order. The campaign ‘soft’ launched with radio, digital audio, social and print (see below) in late December with further activity, including TVC, OOH and partnership to follow this Quarter. Margaret Jobling, chief marketing officer at NatWest Group, said: “We want to show customers we truly care about them reaching their goals, with a brand character that is expert, empathetic and encouraging. Many people feel that they don’t know where to start when it comes to finances, which holds them back. We are the bank that truly champions potential, and we want to help drive better financial decisions. We know young people in particular have been impacted during the pandemic, but we can give our customers a clear idea of where they stand with their finances and what they need to do to move forward.”

CIBC promotes CIBC GoalPlanner™ as the tool for turning insights into personalized plan (Canada) In November 2020 CIBC launched CIBC GoalPlanner, a platform aiming to take complexity out of financial planning, leveraging insights and helping clients keep their goals in sight. As shown below, the bank has now started advertising the tool. CIBC GoalPlanner, available to Imperial Service clients enables client s to digitally kick start their financial planning through CIBC Online Banking. Clients then work with their advisor to get the expert advice and insights needed to build their long-term plans, and can use CIBC GoalPlanner to track their progress anytime.

Print Ad

Print Ad

CIBC GoalPlanner also gives clients a full view of their finances and highlights opportunities, shortfalls and surpluses in areas such as cash flow, so that they have a clear understanding of opportunities to further their progress and know what it takes to achieve their goals.

DIGITAL, INNOVATION & CX Revolut partners with Chubb for more insurance options, including pandemic travel coverage (Global) Revolut has teamed up with Chubb to diversify its insurance offerings to include products like purchase protection, refund protection, and ticket cancellation on purchases made with a Revolut card. The policy also offers coverage where a customer has a confirmed diagnosis of COVID-19 and is therefore unable to use event tickets purchased using their Revolut account. The programme will be rolled out across 22 countries. "We're always looking to provide the best value possible to our customers and help them get more from their money. We're constantly improving our paid plans and are delighted to partner with Chubb to add purchase protection, refund protection and ticket cancellation for our customers," said Felix Jamestin, Head of Premium Product at Revolut.


N26 gives customers pandemic travel insurance at no extra cost (Global) N26 is expanding its Allianz Assistance travel insurance included with N26 You, N26 Business You, N26 Metal and N26 Business Metal to cover epidemic and pandemic related claims. The extended insurance benefits make N26 one of the first digital banks in Europe to offer customers cover against trip Instagram posting interruptions if traveling when necessary during the COVID-19 pandemic all at no extra cost. Trips starting on 19 January or later booked with an N26 You, N26 Business You, N26 Metal or N26 Business Metal card will include cover for: • Trips cancelled or cut short because the account holder or their traveling companion is ill, injured, has developed a medical condition, or has been diagnosed with a pandemic disease like COVID-19, will be covered. Customers can also claim compensation for trips that are interrupted or cancelled, or if they or their travel companion are denied boarding because either of them has been singled out for being potentially exposed to a contagious disease like COVID-19 and required to go into quarantine. • Emergency hospitalization or medical treatment in the event that they develop an illness, injury or medical condition during a trip abroad, including being diagnosed with a pandemic disease such as COVID-19. This may include medicine costs, medical transportation, and repatriation assistance, if necessary. N26 You, N26 Business You, N26 Metal or N26 Business Metal customers can get a complete overview of their Allianz Assistance insurance coverage in N26 app under Insurances in the Explore tab to view all active travel insurance coverage that’s offered with their N26 membership.

HSBC Canada promote a special HK$ and Renminbi rate for Chinese New Year period transfers (Canada) Running through February 28, 2021 HSBC is promoting a Hong Kong Dollar and Renminbi non-cash conversion sale for Canadian personal banking residents to send "a big red envelope" for Lunar New Year. The exact promotion discount to the FX conversion charges is not stated but apparently applies when converting any of the currencies (Hong Kong Dollar or Renminbi) to or from either CAD or USD.



Emirates NBD 'The Wise Ones' campaign highlights the benefits of its rewarding products and services (United Arab Emirates) Emirates NBD is running a film series titled 'The Wise Ones' showing the benefits of its rewarding and beneficial products and services to people’s everyday lives. The series takes a light-hearted tongue-in-cheek approach to demystify financial prudence, by telling the stories through the lens of those who admire, envy or look up to the bank’s customers: • The neighbouring grandma who is a TikTok influencer thanks to The Wise Shopper - the one who shops and gets great deals with the U by EMAAR shopping credit card. • The young husband and wife who aspire to learn how to wield magic through their mobile like The Wise Sender - the one who sends money home, to his family, from his mobile, within 60 seconds, for free, at the best rates. • The little girl who cannot, for the life of her, figure out the secret behind The Wise Vacationer - her best friend whose family travels all the time and stays in hotel for free (not paying for a room) courtesy the Marriott Bonvoy Mastercard World Credit Card. • The neighbourhood housewife with a knife who envies her fit and healthy neighbour, The Wise Saver – the one who saves more by moving more with the unique Fitness Account. • The businessman who wonders how his colleague Noor - The Wise Planner - is managing education as well as extracurricular activities for his kids in today’s time of pay cuts and tightening purse strings (Hint: He uses a 0% Instalment Plan and pays school fees in monthly instalments!). • And the young Arab fashionista who fangirls and positively desires the life of a woman she knows called Hala - The Wise Diner - who dines out at 5-star restaurants several times a week, with the Bon Appetit dining program that gives people 30% off across 2500 restaurants in the UAE. The films have two distinct parts in terms of mood and look, distinguishing 'The Others' from 'The Wise Ones'. As the fans speak about the smart people they know, we see teases of those people through cutaways. And then, when the reveal steps in and the music drops, we see an underwater shot coupled with “heroic” dolly zooms that reveal the bank’s real customers, the names of those real customers as well as the data around how they use a product to the fullest and make the most of life a novel approach in banking and finance. Watch The Wise Ones headline spot here.

Screenshots showing: Hala - The Wise Diner - saves up to 30% across 2,000 restaurants

Screenshots showing: Noor - The Wise Planner - pays school fees in monthly installments with the 0% installment plan



Ally puts $250 into custodial accounts for babies born on December 31, 2020 to show Ally was similarly born for the digital era (USA) With the excuse that 2020 is universally accepted as having been an extraordinarily difficult year, Ally put in place a promotion based around the idea of new babies representing hope. To celebrate that hope Ally offers $250 in a custodial Online Savings Account to all babies born on December 31, 2020 with the messaging "Like these babies, Ally was made for the new era, one that's far more digital than ever, and this is our way of giving the future a financial head-start." Parents or guardians need to visit to learn how to set up a custodial online savings account into which Ally will then put $250. BankBulb note: This Ally promotion reminds us of an initiative run by Westpac in Australia though 2017. To celebrate the bank's 200th anniversary, Westpac placed an initial deposit of $200 into a Westpac Bump Savings account, opened by the parents of every child born in 2017. The $200 then stays in the account, accumulating interest, until the child is sixteen and old enough to put it to good use. Westpac insisted that the initiative was not a marketing gimmick but a genuine commitment to advancing the newest generation of young Australians, and instilling the habit of saving in every child, as early as possible. Watch the Westpac Bump TV spot here.

Bank Muscat launch 2021 prize draw scheme across multiple categories and 7,470 winners (Oman) Bank Muscat has launched the 2021 edition of its Al Mazyona savings scheme with a record 7,470 prizes totalling over RO 11 million to be given away during the year. Al Mazyona is the longest-running savings scheme and offers the largest prize money in Oman. This year’s prize draw scheme has reserved prizes worth RO 5.6 million for Asalah and Al Jawhar customers. The bank also continued to offer 420 monthly prizes to customers across all the governorates as well as 25 special prizes on the occasion of Eid Al Fitr. This year’s 7,470 prizes compares to 6,677 in 2020, an increase of 12%. The 2021 scheme, which will give away prizes worth over RO 11 million, will feature several special draws including an Eid Al Fitr draw, a National Day draw, Midyear draw and an End of Year draw. There are also prize drawings for regional, women, youth, children, premier and salary transfer categories.

Print Ad



Westpac giving a special interest rate on savings accounts to customers aged between 18-29 (Australia) Westpac has extended a special offer for customers aged between 18-29 to earn an interest rate of 3% on savings up to $30,000. To take advantage of the special rate customers need to first open a Westpac Choice bank account and a Westpac Life savings account. Once a customer has opened the bank account and savings account, to get the 3% rate customers need to make sure to grow their Westpac Life savings account balance by the end of each month then make 5 eligible purchases a month with the debit card linked to their Westpac Choice bank account.

Digital Ad on Facebook: "Tommy (29) from Summer Hill made 5 grand last year diving for golf balls. However you make it, we’re here to help you save it. Introducing our exclusive 3% p.a. variable savings rate for 18-29 year olds"

Chime offer new method for receiving a Credit Builder metal card: 40 purchases in the next 60 days (USA) With many customers clamouring for the perceived cachet of having a metal card, Chime is running an incentive for both new customer acquisition and card usage through offering to send a new metal card to customers who use their existing card for at least 40 purchases over the next 60 days. The offer is for customers of Chime Credit Builder which was introduced in 2019. Credit Builder is a secured Visa card with money moved by the customer into a secured account as collateral, with this money used to pay off their charges at the end of every month.

Instagram posting



Axis Bank launch ‘Aura’- a credit card loaded with health and wellness benefits (India) Axis Bank released a new credit card called ‘AURA’ that is built around offering several health and wellness benefits for customers, at an affordable price. The health and wellness offering from Axis Bank has partners like IndusHealth Plus, a health check-up company and Practo, an online medical consultation platform. Cardholders will be eligible for discount on annual medical check-up via IndushealthPlus. With Practo, the Card will provide up to four free online video consultations per month, with 24*7 access to doctors across all 21 specialties and not just limited to general physicians. List of specialties range from the most common ones like dermatology and cardiology to alternative medicine practices like ayurveda and homeopathy. Additionally, this proposition offers up to four free online interactive fitness sessions per month powered by Fitternity (a health and fitness platform). Cardholders also get access to 16 recorded training sessions per month and can choose from a wide array of sessions like Yoga, Cross Functional Training programs etc. Sanjeev Moghe, EVP & Head, Cards & Payments, Axis Bank said: “During the pandemic, an individual’s focus towards health and wellness has increased significantly. Our analytics indicated a strong trend amongst consumers with the way they have been spending on health care products, which showed a significant spend lift in the health and wellness categories.

Key Benefits and offers: • Welcome benefit voucher – INR 700 • Free online video doctor consultants – Up to four per month • Free online interactive workout session - Up to four per month • Access to recorded fitness sessions by Celebrity Fitness Trainers – Up to sixteen per month • Discount on annual health check-up – Up to INR 500

YES Bank launches wellness themed credit card (India) YES Bank has teamed up with Aditya Birla Wellness Private Limited to launch 'YES BANK Wellness' and 'YES BANK Wellness Plus' credit cards, which aimed at the holistic health, self-care and wellness of consumers. With Wellness Card, YES Bank customers can avail complimentary health check-ups or lifestyle benefits or consultations with doctors. This card has been designed keeping the holistic wellness needs of consumers. By registering on the Aditya Birla Multiply App, consumers can enjoy complementary benefits such as annual health check-ups, round the clock doctor or counsellor helpline, in-studio or home based workout sessions as well as personalised diet plans. This credit card comes with first year membership fee of Rs 1,999 plus taxes and renewal fee of Rs 1,999 and taxes. Speaking on the launch, Rajanish Prabhu, Business Head Credit Cards and Merchant Acquisition at YES BANK, said, "We are pleased to partner with Aditya Birla Wellness and offer consumers a unique wellness credit card with exciting offers and rewards. As we adapt to the new normal, prioritising the health and well-being as individuals and that of our loved ones has become ever more important. This card has been designed keeping the holistic wellness needs of consumers in mind and it is a compelling value proposition." BankBulb note: As we reported in August 2019 RBL Bank in India became the first to launch a co-branded health credit card. Now with these two health and wellness inspired credit card launches from banks in India we are sure to see similar credit card launches to come in India and elsewhere, as well as other non-credit Health and Wellness propositions from FIs.

Key benefits of YES Bank Wellness Credit Card: • Complimentary annual preventive health check-up, annual eye and dental check-up • Unlimited consultation with General Practitioner, Specialist & Nutritionist through App • 6 complimentary fitness sessions (Gym, Yoga, Zumba, etc.) per month • 20 reward points per Rs 200 spent on chemist/ pharmaceutical stores • 4 reward points per Rs 200 spent on all other categories • 500 reward points on each YES PayNow registration • Credit Shield cover in case of accidental death of primary card member • Interest rate of 3.5% per month (42% annually) on revolving credit, cash advances and overdue amount • 1% fuel surcharge waiver at all fuel stations across India for transaction between Rs 400 to Rs 5,000

PERSONAL BANKING CARDS KBank offers free COVID-19 insurance for activating spending notifications on credit cards (Thailand) Kasikornbank (KBank) is now giving KBank credit card customers who activate the credit card spending notification service in LINE KBank Live, free insurance covering COVID19 illness and death for a period of 90 days between 21st January to 20 April 2021 The insurance coverage is for a maximum limit of 100,000 baht and income compensation of 1,000 baht per day for up to 15 days. Cardholders apply for the privilege by opening the credit card spending notification service for the first time in LINE KBank Live and selecting "Coronavirus Free Insurance" from the menu. Registration is open from January 15 - 18, 2021 and is limited to the first 100,000 cardholders to register.

13 SBI promotes their EMI on debit card offering (India) To promote its EMI through debit cards offering SBI has launched a campaign titled #KhushiyanOnEMI. With EMI through debit cards, SBI customers can make high ticket purchases and convert them to easy monthly instalments. SBI customers are informed as to whether they are pre-approved and will have no additional documentation and KYC verification. Three TV spots highlight the offering, each playing on a family dynamic such as one spot featuring a meat-eating brother who asks his vegetarian sister why there is a new double door refrigerator in their kitchen. The sister explains that one door is hers and the other his, so no more bickering for fridge space...and even better it was paid for via debit card with an EMI plan.

Barclaycard launch 0% balance transfer credit card offer with cashback - to help people with their holiday period spending (UK) As an extra piece of help for those with struggling with credit card debt during a pandemic and tough Christmas period, Barclaycard have recently launched a new deal offering additional cashback of £20 for balance transfers of £2,500 or more within 60 days of opening a Platinum credit card. This cashback offer also comes with no fee, 0% balance transfer for 15 months.

BNP Paribas to begin issuing biometric payment cards to all customers within 6 months (France) BNP Paribas has declared its plan to begin a general roll-out in the first half of 2021, MoneyVox reports. BNP Paribas launched a commercial trial of 15,000 payment cards with fingerprint biometric authentication based on Thales and Fingerprint Cards technology instead of PIN entry for purchase authorization in the fall of 2020. The bank’s transformation, marketing and digital director Céline Ansquer said its carriers are in favor of the move. Its customers will receive a metal case for fingerprint biometric enrollment from home with the new cards, though their price is yet to be announced. MoneyVox notes that other banks could quickly follow BNP Paribas lead into generalized commercial biometric payment card issuance.



OCBC offers Singapore’s first Solar Panel Consumer Loan (Singapore) OCBC has launched a consumer loan for landed property homeowners looking to install solar panels on their homes. The 'Solar Panel Loan' facility, which is Singapore's first, provides these owners with a term-financing option for installing solar panels, defraying upfront costs to enable and accelerate clean energy adoption. Each homeowner can borrow up to S$30,000 with a tenure of between one and five years to allow for greater flexibility on the repayment period. OCBC has exclusively partnered Sembcorp Industries' electricity retail arm Sembcorp Power to provide homeowners with onsite solar panel installation assessment. Initial consultation costs will be borne by Sembcorp Power. OCBC's head of consumer financial services Singapore Sunny Quek said offering this retail loan for solar panels is one of the key ways to introduce and improve the accessibility of a green and Product sustainable energy source to Singapore's webpage landed property homeowners. illustration demonstrated "This is the first but an important step in economic getting people to relook the way they view benefits of the electricity and we are glad to pioneer this loan loan," he said.

Westpac advertise their lowering of fixed home loan rates to further support home loan customers who also have a Westpac bank account (Australia) In early November 2020 Westpac announced further reductions to fixed interest rates for home loan customers, including: Fixed interest rate of 1.99% p.a. on a four year term for owner occupied customers on principal and interest repayments with a Premier Advantage Package. On 10 January 2021 we see the first mass-media advertising support for the offering with this ad placed in The Sunday Herald. At the time of the rate announcement Richard Burton, Westpac Acting Chief Executive Consumer Division said: “We recognise it has been a tough time for many Australian households, and these changes mean that customers will be able to access even lower interest rates on our home loan and small business loans. However, we are in an extraordinary period with the official cash rate at a historical low and unconventional monetary policy measures in place. It is critical we carefully manage interest rate changes, while continuing to do our part in supporting customers and the economy,” With the Premier Advantage Package, Westpac states: "When you package your home loan and bank account, you could enjoy the benefits of Premier Advantage Package, including interest rate discounts and savings on a range of great products. For an annual package fee of $395 you could save up to $3,981 in your first year on a $250,000 home loan."



Habito's new identity conveys how it is the antidote to the “hell, stress and confusion mortgages can cause” (UK) Habito - voted Best Mortgage Broker at the British Bank Awards 2020 - has overhauled its brand identity with a new logo, visual system, website and user experience. Habito has positioned itself over the past years as the alternative to mortgage hell (see this 2018 TV spot) and continues that creative idea with this rebrand but dials it up. As the antidote to hell - whether that’s cost, stress, time or jargon -the new logo, website and brand assets imagine an alternate universe a place where getting a mortgage is wildly easier and more joyful than ever before. Working with brand agency Uncommon, in collaboration with acclaimed New York visual artist Saiman Chow, the new bespoke graphics, textures and movement are apparently inspired by a "phantasmagoric aesthetic," as agency puts it. "The phantasmagoric visual style is applied through a technique of shifting images and colourful patterns that are continually moving and changing to create a dream-like effect," it adds. The visual identity features a background of pastel-tinted palettes and a bold use of shapes, swatches of colour and swirly dreamlike textures. Habito's former word mark has been replaced with a chunky ‘winged’ “o” and this pair of wings appears on the “H” logo, which is also used as the app icon.

Snapshot of Habito homepage The new brand is incorporated in the entire Habito experience and be added to the existing ad campaign ‘Hell or Habito' shown here.

OCBC first in Singapore for car loans under 60 seconds (Singapore) OCBC now offers Singaporeans the ability to get a car loan before visiting a showroom with online approval within 60 seconds. This first-in-Singapore requires application using MyInfo* with the users confidential information sent directly to OCBC. Applicants will know before they begin shopping for a car their maximum approval amount so can then "buy with confidence" when they visit a showroom. Watch the introductory video here.

Instagram posting



Kotak Mahindra Bank campaign focus on its ‘Unbelievably Low’ home loan interest rate and introduce instant in-principle home loan approval (India) Kotak Mahindra Bank (Kotak) is running a digital and social media campaign focussed on its ‘Unbelievably Low’ home loan interest rate of 6.75% p.a. In addition to the campaign, Kotak has introduced instant in principle sanction of home loans on its digital platform – Kotak Digi Home Loans. Home loan applicants can now check their loan amount eligibility and applicable interest rate immediately online, and also receive an in-principle sanction letter instantly.

The instant sanction of home loans is available to both existing and new Kotak customers, and for salaried and self-employed customer segments. Applicants can use the facility to apply for a fresh home loan, balance transfer or a top-up loan. The campaign includes videos playing across digital and social media platforms in eight languages along with radio and OOH. Elizabeth Venkataraman, Joint President, Consumer, Commercial and Wealth Marketing, Kotak Mahindra Bank, said, “The pride and joy in owning the home of one’s dreams is unlike any other. However, for many it can be a dream too far. Now, with Kotak Home Loans offering an ‘unbelievable’ rate of 6.75% p.a., that dream is within reach. There are a number of reasons why this is the right time to buy a home, but Reason No. 1 is 6.75%.” Watch the spot here.

Mashreq jump on campaign opportunity to link home loan rate to 2021 (United Arab Emirates) With mortgage rates in the UAE generally starting at around 2.49% for a two year fixed interest rate Mashreq saw the opportunity to drop a few points to create an eye-catching campaign headline: Celebrate 2021 with 2.21% on Home Loans. The promotional rate runs to 31 March 2021 and is only available to customers who transfer their salary to Mashreq. In addition to the rate, Mashreq is offering zero processing fee, cashback up to 4,000 AED and pre-approval in 10 mins.

WEALTH MANAGEMENT & PRIVATE BANKING 17 Pictet position themselves as pioneers in ESG investing due to their thematic equity experts (UK) The following ad from Pictet Asset Management plugs in to the current megatrend of ESG/sustainability/responsible investing with the reason to believe for choosing Pictet being that "from the 1990s onwards, their innovative thematic equity strategies have looked beyond benchmarks to offer investors the opportunity to capitalise on the most powerful trends shaping our world." The sustainability theme, in particular Clean Energy is the focus on the bank's client-facing website:

Print Ad

ABN AMRO makes impact investing accessible to "regular" individuals (Netherlands) Private individuals can now invest from as little as 50 euros in the Global Impact Equity Fund distributed and advised on by Aegon Asset Management and ABN AMRO, giving clients the opportunity to invest in companies that could produce financial yields but also have a positive impact on society and the environment. Companies are included in this fund based on their Environmental, Social and Governance (ESG) performance and their positive contribution to society. The fund looks at their sustained efforts in the areas of the environment, society and corporate governance, excluding companies that are known to be involved in controversial activities. Given that clients can invest from as little as 50 euros, Aegon Asset Management and ABN AMRO have significantly lowered the threshold to impact investing, making it accessible to small private investors. ABN AMRO clients can invest in this fund through the bank’s self-directed investing, investment advice and sustainable asset management services. ‘What we want our clients to realise is that they can truly make a difference with their sustainable investments with ABN AMRO,’ says Vincent Triesschijn, ABN AMRO’s Sustainable Investing Director. ‘We are seeing that investing based on ESG criteria is becoming increasingly popular and that the total capital invested sustainably worldwide has meanwhile reached record levels. More and more of our clients want to see the direct impact of their sustainable investment. We want impact investing to grow into a mature investment category, with investments ranging from 50 euros to 50 million euros. With the launch of the Global Impact Equity Fund, we are now giving everyone the opportunity to contribute to a positive impact on society and the environment through their investments. But remember, investments also carry inherent risks.’

WEALTH MANAGEMENT & PRIVATE BANKING 18 Desjardins ad highlighting Responsible Investing points readers to Canada's largest range of ESG solutions (Canada) The following new ad from Desjardins focused on Responsible Investing through Desjardins Funds points readers to which is a clearly designed webpage - aimed principally at advisors - which lays out reasons, solutions and opportunities for ESG investing. The webpage (below) points to Desjardins offering the largest range of RI solutions in Canada, with over 25 product options, and the most comprehensive selection of thematic funds in addition to their sustainability commitment for being the first Canadian financial institution to sign the UN Principles for: • Responsible Investment • Sustainable Insurance • Responsible Banking

BMO Global Asset Management launch MyESG™ to help investors better understand ESG investing preferences (Canada) BMO Global Asset Management (BMO GAM) has launched MyESGTM an online tool to help advisors and individual investors better understand ESG investing preferences. MyESGTM uses data collected through a BMO GAM survey to help guide the discussion between investors and advisors. The BMO GAM survey, conducted in conjunction with DCIIA Retirement Center, found four distinct ESG investing personalities, one of which will be assigned to the survey participant: • ESG Motivated (22%) – Does not separate belief from investment decisions. Such investors are likely open to numerous ESG-related options and feel strongly about shareholder activism • ESG Ready (30%) – Sees value in ESG, but still tends to separate investment choices with personal beliefs. There is opportunity for advisors to further educate investors on how their beliefs are investable • ESG Pragmatic (27%) – Approaches ESG from a portfolio perspective, basing investments on financial goals over values. These investors likely need to see that ESG investments provide the right profile for their risk and return appetite • ESG Skeptical (21%) – Positive impact is not these investors' motivation, and ESG investments likely need to demonstrate solid risk-adjusted returns. Advisors can start discussions with investors citing examples of where material ESG considerations impacted a company's performance

WEALTH MANAGEMENT & PRIVATE BANKING 19 UOB highlight their commitment to helping business advance responsibly and personal wealth to grow sustainably (Singapore) In this new UOB ad placed in The Straits Times on 1 January 2021, the copy underscores the bank's commitment for a sustainable future (#SustainableFutureWithUOB) for customers, colleagues and communities. The copy states "across our global network today, we help businesses to advance responsibly and guide personal wealth to grow sustainably" and also highlights the Platinum award in The Asset ESG Corporate Awards 2020.

Citi open its largest wealth advisory hub globally, dedicated to Citigold and Citigold Private Clients (Singapore)

Print Ad

Citi opened its largest wealth advisory hub dedicated to Citigold and Citigold Private Client customers in Singapore in December 2020. Officially named Citi Wealth Hub at 268 Orchard, it occupies an area of 30,000 sq. ft. across four floors at 268 Orchard Road, and have over 30 client advisory rooms, as well as flexible work and event spaces. The Wealth Hub is part of Citi's target for achieving double-digit growth in market share and number of clients in the wealth segment over the next few years. The Wealth Hub can house more than 300 Relationship Managers and Product Specialists and has built-in facilities to host bespoke lifestyle events for clients, investment seminars and more. To drive awareness the following print ad was placed on the front cover of The Sunday Times on 10 January 2021 which also highlights a Welcome Gift of $6,626 for starting a Citigold relationship. An animated video virtual tour of the Wealth Hub can be seen here.

Print Ad



ICICI Bank launches 'Infinite India', a comprehensive online platform for foreign companies setting up operations in the country (India) ICICI Bank announced the launch of an online platform for foreign companies looking to establish or expand business in the country. Called 'Infinite India', the platform offers them banking solutions as well as value-added services such as incorporation of a business entity, corporate filings, licences and registrations, HR services, compliances and taxation among others. An industry-first initiative, the 'Infinite India' platform offers significant convenience to foreign companies, as it eliminates the need of co-ordinating with multiple touchpoints leading to a hassle-free experience of doing business in India. The 'Infinite India' initiative is a part of the host of technology-enabled-services that the Bank is offering to foreign companies/MNCs coming to India. These technology-enabled-services are aimed at strengthening the Bank's position in the MNC segment.

Value-added offerings include: End-to-end services ranging from advisory to getting connected with subject matter experts, who in turn help the companies to incorporate a business entity, corporate filings, licences and registrations, HR services, compliances and taxation among others. These value-added services are now available in association with a a leading cloud based business accounting and corporate services firm. The Bank will induct more partners on board in order to expand its bouquet of services on the platform. Banking services include: a wide range of products and services that cover the entire range of the financial space, to cater to every banking need of a foreign entity. The offering spreads across corporate banking, personal banking, treasury operations, trade services, digital channels- internet banking and mobile application, API integrations, customised current account with a dedicated manager and authorise set-up of office among many other banking services. Watch the launch video here.

Screenshot from introductory video



Scotiabank introduces AI-Powered Cash Flow Predictor ‘Sofia’ (Canada) Scotiabank has released a new AI-powered cashflow prediction tool called SOFIA (Strategic Operating Framework for Insights and Analytics) that uses historical commercial banking data, such as deposits, and trends from the past year combined with machine learning to forecast what clients could expect in the next four weeks. The rolling four-week average predicted by Sofia gives banks a better sense of which clients will be impacted by economic downturn and how best to support them. The Bank launched a regional pilot of the cashflow tool in Commercial Banking and Retail Banking early in its fiscal first quarter and was first intended to help Scotiabank bankers to expedite the review process for managing commercial banking accounts. Its now been rolled out nationally and in a post-pandemic world, the technology is being used as a “cash flow prediction tool”—to assess and predict which customers will require assistance amid ongoing uncertainty. “What we've been solving for really isn’t a new issue, but it's been highlighted through the pandemic,” said Chris Wise, Director of the National Agricultural Credit Unit at Scotiabank. “It's the need to get a banker out in front of a customer when they need us.

“It’s really intended to be a conversation starter with our customers,” said John Phillips, Scotiabank’s director & head of the Credit Solutions Group, in a blog post on the Scotiabank website. “It’s intended to provide us with insights into accounts which may be trending down so that we can get in front of it and have discussions with our customers that are informed by the data.”

Maybank Islamic launch first Islamic Corporate Card with charity feature (Malaysia) Maybank Islamic Berhad has launched a new Islamic Corporate Card, the first in the market that channels a percentage of customer spending to charity. The Bank will contribute 0.1% of all customer spending on overseas merchants such as eBay US, Amazon US and Apple Store US, to selected charity bodies. The Maybank Islamic Corporate Card is also the first Islamic corporate card in Malaysia to be offered in both Visa and Mastercard. Prior to these cards, Maybank has offered a charity element in one of its personal cards, the Maybank Islamic Mastercard Ikhwan Card which also contributes 0.1%, but for all consumer expenditure. Besides the charity element, the Maybank Islamic Corporate Card offers 0.3% cashback for local spend and 0.7% cashback on overseas spend, for both retail and online purchases. The card also provides a digital Shariah-compliant payment platform to assist businesses with the management and planning of their operations. According to Dato’ Mohamed Rafique Merican, CEO of Maybank Islamic, the new Maybank Islamic Corporate Card embodies the Islamic finance values of equitability and social well-being, and is aimed at meeting the increasing demand by Shariah compliant and halal-conscious businesses.



Caisse d'Epargne launches IZ ecommerce, a turnkey solution for ecommerce development (France) The Caisse d'Epargne has launched IZ e-commerce, a turnkey solution for a merchant site, to support entrepreneurs in their e-commerce development. The solution allows entrepreneurs to quickly set up a personalized Shopify online store and is made in partnership with Trenta Axome, an agency specializing in e-commerce, and integrating the PayPlug, Natixis Payments' fintech and the first French payment solution 100% designed for SMEs allowing them to cash payments by credit card on their ecommerce site. Watch the introductory video here.

Print Ad

DBS sets new standard of 3 working days and online application for opening a business account in Hong Kong (Hong Kong) Opening a business account in Hong Kong is traditionally a relatively time consuming process that has also involved a trip to a branch. Now, DBS (Hong Kong) has slashed the time for an application to be considered and approved to 3 working days and also made the process 100% online. Through This is DBS digibanking concept, “Not only does it make it easy for SMEs in simple business structures to open an account with us in as fast as 3 working days, all done digitally without setting foot in a branch, our online banking does all other things – all the way from account opening and personalised online banking platform to loan application, trade finance, security services and so forth,” said Nimish Panchmatia, Head of Global Transaction Services at DBS. SMEs in simple structures can apply for a business account by submitting required documents, followed by taking a short video of the HKID card of directors and shareholders of a limited company incorporated in Hong Kong, online. The backend AI system then validates the authenticity of the HKID card and checks them against the live video taken by the applicant. This is how the document submission and identity authentication are automated, he explained.

Digital Ad



OCBC business rallying cry 'Improvise. Adapt. Overcome.' with the help of the bank's digital solutions (Malaysia) A new COVID-19 related campaign from OCBC suggests the bank's digital features are a way to help Malaysian businesses overcome the challenges brought about by the pandemic. Centered on the rallying cry 'Improvise. Adapt. Overcome' by 'Go[ing] Digital with OCBC' the below digital scrolling banner highlights the ability for businesses to use OCBC's digital features to: • Operate Online • Sell Online • Bill and Pay Online The 'Go Digital' message is back with a section on the business banking website which provides details on how a business can monitor their operations online as well as sell, bill and pay. This Malaysian campaign is similar in tone to the bank's business campaign in Singapore -which we highlighted in November 2020- that uses the rallying cry: Rethink. Reinvent. Rebuild. Improvise. Adapt. Overcome. is also considered the unofficial mantra of the US Marine Corps.

Digital Ad

ICICI updated InstaBIZ app includes ability for customers to get an instant overdraft (India) The ICICI Bank InstaBIZ platform was first introduced in July 2019, offering over 115 products and services through online and mobile banking. Since launch ICICI regularly adds new services and products to InstaBIZ and as shown in the below print ad placed on the front page of The Times of India on January 5, 2021 the number of services available has now increased to over 150, with one such service being the ability for customers to instantly get overdraft approval through the app.

Print Ad



Truist Financial aims to increase brand awareness with NFL naming deal as "An Official Retail Bank of the NFL" (USA) Truist has signed a multi-year naming deal with the NFL, as an “official retail bank” partner stating on their social media platforms, “We’re partnering with the NFL to help communities everywhere believe in their potential." “Truist is now an official retail banking partner of the NFL. And we’re united in our mission to create positive change. Together, we’ll help communities achieve better.” A multi-media campaign will break to coincide with the NFL’s Wild Card weekend of playoff games, January 9-10, 2021. Truist NFL team partners include the Atlanta Falcons and Miami Dolphins. Financial terms of the alliance were not disclosed. In an intro spot, which shows NFL action interspersed with staff members and customers, a voiceover offers, “When I look around I see what we’re capable of. I see the potential in each and every one of you just waiting to be unleashed. Truist and the NFL, we believe in your potential."

Screenshots from launch spot

Barclays: "Help fill a tummy and we’ll fill two more" through the bank's COVID-19 Community Aid Package (UK) In this double page print ad placed in The Daily Express national newspaper, Barclays encourages Brits who can afford to donate £1 to FareShare, the UK’s longest running food redistribution charity, to do so prior to 28 February as the bank will match donations up to that date made via their donation link or text number at a rate of £2 for every £1 donated across all platforms, up to a total of £1,000,000 in matched donations.



TSB campaign introduces Brits to new positioning 'Life Made More', joining other banks with money confidence message (UK) TSB has introduced a new brand positioning in a campaign fronted by Friends TV series star David Schwimmer. The new positioning 'Life Made More' is another bank brand purpose built around the idea that money confidence helps build life confidence. As TSB states on their website "we believe that money is just a means to an end" which is "why we do what we can to help all our customers feel on top of their money, every day." In the headline spot, David Schwimmer drives around Britain in a camper van, highlighting various idiosyncratic things Brit are seen to enjoy, such as golfing, going to an outdoor cinema, getting a soft scoop from the ice cream van, enjoying a pint of beer and hiking, all the while encouraging the nation to achieve personal financial confidence and get the most out of life.

Screenshots from 'Welcome to a life made more' TV spot In the 60 second headline spot, David Schwimmer briefly - for about 10 seconds - brings the focus to TSB's debit card round up savings feature on its Spend & Save Account with the rest of the ad time spent humorously setting the scene for the sign off: "When you're feeling in control of your money you can spend it on what makes you happy, whatever it is that makes you happy. That's life made more.“ Developed by McCann, the new creative is the first time since the 1980s that TSB has not used animation (view example) in their advertising. The catalyst being that in the midst of a global pandemic, a new 'real-world' lens using empathy and humour is considered more relatable and appropriate. Visuals and messaging has been carried through on the bank's website as shown right. BankBulb opinion: We’ve recently heaped praise on TSB for their ‘Fraud Refund Guarantee’ and debt management messaging. This new creative and brand positioning, overseen by TSB’s chief marketing officer Pete Markey who is leaving the bank in February to become CMO at Boots, we’re finding harder to judge positively from a strategic standpoint. On the one hand "Financial confidence" is a perfectly reasonable positioning to push, especially in this current economic climate. It’s a theme being used by multiple banks around the world, but also by a number of TSB’s direct competitors (see examples from NatWest, Barclays and Lloyds Bank) which of course brings up the question of how differentiating will it be, and ultimately what is the purpose and strategy? The creative is certainly pleasantly amusing but we feel that it lacks punch. In a 60 second spot the copy could have incorporated more proof-points into how TSB is able to help customers feel more confident. The focus on round-up savings, a feature offered by many TSB competitors, is hardly going to move the needle for consumer consideration of the TSB brand. It is of course perfectly possible that subsequent creative executions will address our concerns (we will update this article if that is the case).

Company Address: 48-49 Princes Drive, London, W11 4QA, United Kingdom For enquiries: Š 2021 Otaara Limited or its affiliates. All rights reserved. BankBulb is a service mark and marketing name of Otaara Limited. Otaara Limited is a company registered in England and Wales with company number 10987751