The communication goal
We wanted to make digital banking a part of daily life for Axis bank customers and potential customers.
Axis bank had a low share of 11% over its competition
And despite digital options, consumers still preferred to stick with their own bank and transacted physically
The situation analysis
With the trend of increased number of smartphone owners, it comes as no surprise that consumers across India are increasingly using their devices as a way to research, shop, bank and pay. And combined by the benefits of convenience, accessibility, security and continued increase in functionality. However this did not resonate with Axis Bank consumers
In spite continuous communication on online banking, the consumers were very sceptical about using the service
Demonetization should have been the biggest catalyst for mobile banking unfortunately not for Axis Bank as per their quarter results. The consumers found mobile wallets convenient over online banking to transfer smaller amounts and for bigger amounts preferred to visit their banks or handover cheques.