What’s the first thing that comes to your mind when you think of banks?
Is it the mile-long paperwork, or is it the equally as long lines and waits for your turn?
Banks and banking has always been hard on us, extremely long lines and waits are what we automatically expect when going to our branch, which is why only 33% of Egyptian adults have their own bank account.
During a speech at the People and Banks Conference in Cairo last year, deputy governor of the Central Bank of Egypt (CBE) Tarek El Khouly stated that only 33% of adults have bank accounts in Egypt.
The low number isn’t surprising, as we have been avoiding banks for years but new modern banks such as the Al Ahli Bank of Kuwait-Egypt (ABK-Egypt) are trying to change that.
The bank, which took over Piraeus Bank in 2016, has been doing some great work in creating fun content for younger bankers to get interested in personal banking, as well as working on improving the banking experience.
Relating to young bankers has always been an issue for Egyptian banks, since older generations of bankers have cultivated an image of banks in which younger generations see it as things to avoid due to all the hustle and annoyance that banks bring.
ABK-Egypt is trying to change that.
ABK-Egypt is trying to change the narrative that banks have in the country, by implementing simpler processes, faster turn-around time, online banking and mobile wallets and special shopping experiences with their credit cards.
The ad is extremely relatable for many young adults. The pressure from both sides, from family and cultural expectations to friends and feelings of “YOLO,” makes it hard for many to make decisions on their saving/ spending habits.
Parents pressuring to look forward to the future and cultural expectations that come from being married make any man cringe when thinking about it.
Friends and other young adults pressing on living, on the YOLO behavior that most millennials have, makes it hard to keep money saved but also instills guilt when not enjoying life as much as others.
ABK-Egypt’s ad hits the nail on the head through its funny, and very relatable, commentary on the pressures of banking and personal financial planning, but also reminds us at the end that the brand is there to make it easier.
How ABK-Egypt is targeting young bankers through fun and sharable content
Content creation for banks and other financial type companies usually isn’t fun, and usually not charming, but ABK-Egypt is able to change that with their cute series of stop motion videos. Fun, witty, entertaining and relatable, these content pieces are exactly the type of content that ABK needs to capture the attention of reluctant young adults.
Fun, witty, entertaining and relatable, these content pieces are exactly the type of content that ABK needs to capture the attention of reluctant young adults.
Although ABK-Egypt may have only been on the scene for a short while since its takeover of Piraeus Bank in 2016, the bank has already been turning heads and improving the local banking scene.
Since its arrival, ABK-Egypt has been recognized as a climbing star in the banking community.
In 2017, it was recognized as the “Best New Brand in Egypt” by The Banker Middle East, won the “Best New Bank in Egypt” award from The European Magazine and was nominated “The fastest Growing Bank in Egypt” by International Finance Magazine.
At the very least the bank is doing some great work with their content and reaching out to young reluctant bankers, and so far, seems to be doing well on the banking front as well.
We’ll be looking forward to some more fun ads or content from this particular bank.
What do you think of their content and about banking in Egypt? Let us know in the comments below.