Revolutionizing Traditional Banking: Trust Bank's Digital Transformation
Applicable Industries
- Finance & Insurance
About The Customer
Trust Bank is a Singapore-based financial institution that was looking to launch a new digital bank in a market dominated by traditional banking brands. The bank aimed to make its brand accessible to everyone and establish a strong presence in places where consumers stood to benefit the most from their product. Trust Bank sought the expertise of Iris to develop a unique brand positioning and launch plan for their new digital bank. The bank also aimed to combat in-store clutter at NTUC FairPrice supermarkets and effectively communicate their brand message through non-traditional in-store touchpoints.
The Challenge
Trust Bank, a Singapore-based financial institution, was faced with the challenge of launching a new digital bank in a market dominated by traditional banking brands. The task was to develop a unique positioning for the brand and a launch plan that would make the brand accessible to everyone. The bank also needed to establish a strong presence in places where consumers stood to benefit the most from their product, such as NTUC FairPrice supermarkets. However, the challenge was to combat in-store clutter and effectively communicate their brand message through non-traditional in-store touchpoints.
The Solution
To address these challenges, Iris, a brand strategy specialist, developed a 360 omnichannel brand campaign aimed at demystifying banking. The campaign was designed to make banking more accessible and understandable to the average consumer. To combat in-store clutter at NTUC FairPrice supermarkets, Iris hijacked non-traditional in-store touchpoints with strong and fun messaging. To drive sign-ups, a referral program was created that incentivized both the referrer and referee. This program was initially promoted through Key Opinion Leaders (KOLs) via social media. With the understanding that Trust referral incentives were unlimited, the public started to promote their own Trust referral code on their personal social channels, making the program go viral within the first few days of launch. Iris also provided end-to-end social strategy and solutions to build a social media presence that sets Trust apart.
Operational Impact
Quantitative Benefit
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