UCash: Standing with the lonely migrants
Bitop Das Gupta
Brand Owner: United Commercial Bank
Lead agency: Grey Advertising Bangladesh
Industry: Financial services (general)
Media: Newspapers; Television
Budget: 500k – 1 million
Market background and cultural context
The long tail of the unbanked population in Bangladesh is as big as 85% as they are not considered to be valuable and attractive to the formal banking system. Yet these are the people who are in most need of such services, either for receiving funds from loved ones in distant locations, or to access financial tools to improve their economic condition.
Being sidestepped by the formal system, these people started adopting many informal and unsecure methods to deal with their money and the whole system spread its wings off the radar of the government. People started being cheated by the shrewd "money dealers". Moreover, the government also wasn't getting any revenue out of its services. The government took the matter very seriously and decided to utilize the revolution of telecommunication services in the country. Though less than 15% of the population have access to banking services, 68% of the population had mobile phones. So, these phones do not need to be used merely for talking but can be used for far more useful and sophisticated processing tasks.