Simpler banking with Kotak and ANZ
November 17, 2009 – 4:17 pm by Shalini AmarnaniWe noted that our local private sector bank Kotak Bank and the Australian banking giant ANZ are both aiming at simpler banking.
Kotak Bank has launched a campaign titled ‘Let’s make Money Simple’.
The campaign is aimed at informing a user that Money is not a complicated affair; we have made it feel tough to manage our money.
The campaign is being promoted on Television, outdoor and on the Internet. The Kotak Bank website has 5 television commercials hosted to further promote the concept of ‘Let’s make Money Simple’. The TVCs are revolving aroung personal aspects of the man’s life – wife, children friends etc.
Have a look at one of ads in the campaign.
The campaing was brough to notice by Parush Sonakar who also blogs with us. What caught the attention was the website put up for the campaign.http://www.kotak.com/simple/home.html
The website is neatly laid out and while it is a part of the Kotak.com site; it has been made as a standalone neatly designed site by itself.
Across the oceans in Australia, ANZ has a very differnt take on making banking simpler.
It flaunts it brand new website and products http://anzbrandnew.com/
The ad that ANZ has used to launch this campaign is technologically sharp but leaves out family relationships and focuses purely on a professional on his way to work with a head full of worries.
While the ANZ ad campaign and approach may be perfect for the Aussies, i seemed to be a bit too detached for India. Here we seek family banking. Infact ICICI Bank has recently been promoting the concept offering gifts if the full family operates ICICI accounts
RSS
2 Responses to “Simpler banking with Kotak and ANZ”
“Making banking easier” does not mean “make it easier for me to find and buy your stuff.” It doesn’t even mean “make it easier for me to track my money.” This is bank-think, not how consumers think.
“Easier banking” means taking steps out of processes. It means taking doubt, worry and stress from one’s financial life. It means saving people time. It means not having complicated forms. It means a heck of a lot more than most financial institutions laying claim to the “simpler banking” message ever deliver.
By Jeffry Pilcher on Nov 17, 2009
Well said Jeffry, could not agree with you more. To be fair, some banks ARE trying to do their best but our observation has been that regulation sometimes gets in the way. For instance, in India the KYC (“Know Your Customer”) norm of the Reserve Bank of India requires banks to collect a lot of information about the customer in physically documented and signed form. This to an extent prevents them from making some tasks like opening accounts, investing etc easier. Although of course, many of these norms are in the interest of the consumer in the first place. So at times its a toss up negotiating which takes a lot of a bureaucratic time.
By Vikas Tandon on Nov 18, 2009