Equitas small finance bank founded in 2016, a microfinance lender repositions itself as an institution that believes in going, ‘Beyond Banking’ to positively influence the economic wellbeing of the deserving segments of the community.
Through the beyond banking, Equitas goes all out on its strategy of addressing the heart and mind of the people. The 7%* interest on Savings Account, no maintenance charges, free fund transfers, rewards etc., addresses the mind and the beyond banking initiatives, creating a better society together, addresses the heart. With Equitas, customers feel good about the fact that the money they save with ESFB works towards changing lives and building stronger communities. The bank invests 5% of net profit into the community through social initiatives and lends to businesses that have a positive impact on people and society. The journey of money and the positive change it makes to the community is beautifully captured in a video unveiled on the 5th Year Anniversary of the bank.
Equitas believes that by creating and returning value to customers and their communities, one can create sustainable prosperity for all. Their association with sports- be it Chennai Super Kings or the recent announcement of our Brand Ambassadors, Smriti Mandhana (Vice Captain, of Indian Women’s Cricket Team) and Rani Rampal (Captain of Indian Women’s Hockey Team) is a strategy to build the brand, as it unites every Indian irrespective of diversity. They could draw parallels between what sports and we bank do, bringing people together, celebrating diversities. Having the logo positioning at the back of the helmet & Cap of the CSK is to reiterate the fact that bank is there behind every champion. With the word “Champion”, they mean not just the players, but every single person who is directly or indirectly associated with the bank, being a positive change maker.
Equitas Small Finance Bank has always been an active member of the community, making money work towards a positive change. Since its inception as a microfinance institution in 2007, the company had enabled the lives of millions of people through micro lending, now on its journey of 5 years as a bank it had strived to enable individuals, families, businesses, and communities in their aspirations with seamless banking and beyond banking initiatives.
Apart from this, Beyond banking has helped millions of people by understanding their needs and touching their hearts in the form of rehabilitation for over 2,101 pavement dwellers, providing quality education to over 5,258 students, employment to over 1,99,493, skill training to over 5,63,260 women, and health beneficiaries to over 63,70,516 people over the years.
Detailing about the repositioning strategy, Vignesh Murali, Head of Marketing, Brand & Corporate Communications, Equitas Small Finance Bank, said, “We often use the word Champion for Sporting personalities, but we miss out the champions we meet every day who passionately transformed their lives and people around. As a bank, we have been supporting through our micro lending that have helped lakhs of people to transform their lives true to our campaign of The Bank Behind Every Champion.”
Murali further added, “When we realized the difference that money could make in people’s lives, we felt the power of the collective good that we are spreading through our banking and beyond banking initiatives. An idea that was conceived with great passion, which is strongly embedded in the value system and emulated by each and every member of the Equitas family. Being there with Equitas right from inception, I am happy to see how the in-house team has grown to build all that you see. Here is an ode of love, respect, support and salutation in the form of our newly unveiled brand positioning which is aimed at touching the heart and soul of our customers, aspiring them to take a step towards making responsible choices and making a difference in lives of others.”
