DraftFcb

Financial Services (105)

Show me my money

Show me my money

Rising from the ashes of the traditional banking industry in America, Kasasa (BancVue) is a website that offers customers savings and current accounts with a personal twist.  In addition to the cashback and automatic savings plans commonly seen in the major banks, Kasasa has paired with less traditional partners such as charitable foundations and iTunes to give their customers a choice in what they do with their money.  For example, the Giving account automatically donates high interest and a per-debit-transaction to your choice of one of 5 charities.  The iTunes account comes with a number of free iTunes downloads per month.

Why it matters

There are a couple of powerful forces at work here.  First, banks are in dire need of transparent and more altruistic practices, and people want more control over their money.  Second, philanthropy has long been relegated to the upper echelons of society, and you could really only make a difference if you could give a lot.  Today, thanks to the scalability of the internet, giving belongs to anyone. Now, people can easily make small donations that add up to a big impact.  How can brands turn a small gift - whether on your behalf or the customers’ - into  a big love?
 

Significance
Financial Services
United States
  • home_top_nav_list
  • home_top_nav_list
  • home_top_nav_list
  • left_menu_category
  • most_viewed

Related articles

Talking to youngsters the youngster way

The French post has launched an interactive video in order to introduce its bank services to young people. A young man is having a bad day and viewers have to help him decide what to do. As the video progresses, he has the opportunity to use all of the services provided by the bank.

France
Authenticity
Significance
Financial Services
 
Power to the people

One of the biggest challenges that poor urban entrepreneurs face is lack of access to capital. Banks and financial institutions are hesitant to lend to these individuals due to credit risk and small money lenders charge almost usurious interest rates. State Bank of India has developed a unique model where small sums (sometimes as low as $100) are loaned to individuals who form ‘Self Help Groups’ that together add up to a significant corpus. The bank benefits because the default risk is spread across multiple individuals in same social circle. Additionally peer pressure helps to prevent defaults.

One World
Significance
Financial Services
India