Techcombank is one of the largest financial institutions in Vietnam and it needed solutions for lending products that included all kinds of consumer loans – Home, Auto, Car, Personal, Business and Loan against property for Vietnam’s B and C segments. In times of economic slowdown, demand for loans is low and there is little difference between loans as interest rates for all banks are regulated by the central bank of Vietnam. Besides, an indepth category audit showed that even the communication of all banks was the same – talking about interest rates in a boring, tactical way. Our challenge was to build differentiation for loan products of Techcombank.

To Vietnamese people, lending products of banks are almost the same with each other in term of interest. There is no loyalty toward any brand and the Vietnamese middle class was averse to taking loans. However, there was a cultural shift in their attitude towards loans. The young Vietnamese were aspiring to a better lifestyle, and were impatient to see their dreams actualized. There was now a larger motive behind seeking a loan. A loan was more than just a means of meeting a need. A loan was a tool to help people fulfill their aspirations – a better home, a better car, a business opportunity. We realized that Techcombank had a fabulous turnaround time for processing loans, the best in the industry. We tied this unique point of difference to Vietnamese people’s aspirations. We tied the fulfillment of people’s aspirations to the happiness it brings to their lives, and implied that waiting for it to be fulfilled was equivalent to delaying their happiness. With Techcombank, there was no need for customers to put their happiness on the shelf. It was the fastest way to realize their dreams. The strategy to differentiate Techcombank’s lending products was to position them as the fastest way to fulfill the dreams of the Vietnamese middle class.

The idea was brought to life through 2 Phases. In Phase 1, the idea was introduced through a thematic campaign, followed with a campaign that showed dream fulfillment through each product vertical – Home, Auto, Car, Personal, Business and Loan against property. Each creative would be used for a relevant touch point. (Eg. Car Loans to be communicated at car showrooms, etc.) In Phase 2, we highlighted the ‘Service’ aspect of Techcombank loan agents, highlighting how they would take care of all paperwork and formalities to ensure the fastest disbursement of loans.