Brand: IDFC Bank
Brand owner: IDFC Pvt. Ltd.
Lead agency: McCann Worldgroup
Budget: 1 - 3 million
This is the story of how India's 83rd bank, and also one of its smallest in value, bridged a gap left unmet for over 70 years, by 82 banks and several billions of dollars. It used an intuitive understanding of rural India to design an effective, ergonomic, and socially viable tool as an alternative to the bureaucratic banker.
India, home to 21% of the world's unbanked, faces a significant challenge in catching up with the rest of the world in universalising banking access. (Source: World Bank). One hundred and sixty seven million people in India don't even have a bank account. India's unbanked population is as big as that of the world's seventh largest country.