VEVE Enables Fino
Payments to Onboard
5000+ Merchants
Monthly via
On-Device Ads
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Key outcomes
>5 Million
Daily impressions delivered
>3%
Click-to-account-open ratio (higher than other channels)
5000+
merchants onboarded monthly
About the brand
Fino Payments Bank, the digital banking partner for millions of hardworking Indians, spans across 90% of districts with 7,24,671 outlets, 54 branches, and 130 service points. Committed to financial security, Fino envisions a prosperous nation by redefining the way banking services are delivered. Their unique "phygital" delivery model (i.e., a combination of physical and digital) integrates banking into rural communities, ensuring accessible financial services to a broader range of consumers.
THE STORY
A significant portion of India's population in smaller towns and rural areas lacks access to modern banking services, leaving them without proper financial assistance. Introducing fintech and digital banking to these regions is essential for India's rapid economic advancement. The FinTech market in India is quickly growing and is projected to reach 12.4 trillion rupees by 2025[1]. Fino Payments Bank aimed to play a crucial role in this expansion by extending digital banking services to areas beyond major cities. This initiative aimed to improve the financial well-being of diverse communities across India.
The challenge
Fino actively sought out effective digital advertising methods to reach its target audience, mainly NCCS (National Consumer Classification System) B and C consumers in tier 2, 3, 4 locations and rural markets. They realized that conventional advertising methods have limited reach in rural areas, where the audience is less engaged and mostly uses traditional search and social platforms for entertainment. Hence, Fino aimed to identify alternative advertising avenues. They were looking for an AdTech partner who would enable them to effectively reach, engage and onboard active smartphone users who are interested in digital banking.
Campaign objective
Fino wanted to:
- Acquire new customers who were actively seeking financial solutions or additional income sources.
- Onboard ‘Fino Merchants’ in rural areas. Fino merchants refer to shopkeepers, who facilitate account opening, money transfers and loan disbursements within their communities.
- Increase their reach beyond traditional search and social media channels.
- Target NCCS (National Consumer Classification System) B, C consumers predominantly across tier 2, 3, 4 locations and rural markets.
- Focus on the workforce in factories, etc., in urban markets.
The solution
VEVE kickstarted the campaign by strategically placing its unique on-device ads such as Push Notifications and Tiles across premium mobile OEMs, including Oppo, Vivo, Xiaomi, Samsung and One Plus. As the campaign gained traction, it was scaled further by using Notification ads via content sites including regional news and entertainment websites.
- Notification ads in 7-10 languages were used to creatively communicate to the merchants that their shops can also be banks for the people in their communities, leading to a dual source of income.
- Tiles, a quick access icon (brand logo) was placed on multiple mobile browsers (Oppo, Vivo, and more) to target high-intent users interested in finance products and acquire customers for Fino’s banking services.
VEVE ran a pan-India campaign for Fino. To reach out to relevant users, multiple targeting options were used, including:
- Geolocation: This enabled targeting consumers in semi-urban and rural areas all over India.
- Device-level: Smartphones priced between
INR 10,000 to 15,000 were targeted. - Language: Notifications ads were introduced to effectively target audiences in specific regional pockets, encompassing 7-10 languages including Hindi, Marathi, Gujarati, Kannada, Punjabi, Rajasthani, Bengali, Malayalam, and Tamil.
- Shopkeepers owning retail establishments were targeted in rural areas for merchant onboarding.
- Notifications in Local Languages
- Notifications via Content Sites
- Tiles
The results
>5 Million
Daily impressions delivered
Daily impressions delivered
>3%
Click-to-account-open ratio (higher than traditional search and social media channels)
Click-to-account-open ratio (higher than traditional search and social media channels)
5000+
merchants onboarded monthly
merchants onboarded monthly
>60%
Reduction in cost-per-lead owing to continuous optimizations
Reduction in cost-per-lead owing to continuous optimizations
Anand Bhatia
CMO, Fino Payments Bank Ltd
CMO, Fino Payments Bank Ltd
VEVE’s unique on-device mobile ads performed phenomenally, leading to a substantial upliftment in brand exposure and customer acquisitions. Their expertise has greatly contributed to our ability to penetrate regional pockets and acquire new audiences across
consumer segments typically overlooked by traditional brands in the financial service sector. VEVE has demonstrated a deep understanding of our industry, and we are incredibly pleased with the results achieved through this partnership.
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