Biprorshee Das

Saatchi & Saatchi wins creative duties for CIBIL

Credit Information Bureau (India) Ltd appointed the agency as its creative partner following a multi agency pitch

Saatchi & Saatchi has won the creative duties for Credit Information Bureau (India) Ltd (CIBIL). The account was won following a multi agency pitch that involved about three other agencies.

The aggregator of credit information earlier followed a B2B model; now, entering the B2C space, it sought a creative partner to build the brand and increase awareness in the public domain.

Saatchi & Saatchi wins creative duties for CIBIL
Commenting on the win, Kamal Basu, chief executive officer, Saatchi & Saatchi, tells afaqs!, "We won the business showing the client how well we could help create awareness and involvement in the category."

Incorporated in 2000, CIBIL aims to fulfil the need of credit granting institutions for comprehensive credit information by collecting, collating and disseminating credit information pertaining to both commercial and consumer borrowers to a closed user group of members.

Saatchi & Saatchi wins creative duties for CIBIL
Banks, financial institutions, non banking financial companies, housing finance companies and credit card companies use CIBIL's services. Members who have submitted all their credit data may access credit information reports from CIBIL.

Moving towards interaction that is more direct, consumers, too, can now directly approach CIBIL to be better informed of their credit history.

Basu says that while it is a new category in the country, it is well developed worldwide and the agency was able to pitch its case better seeking help from network agencies. Saatchi & Saatchi also conducted a fair amount of research to understand consumers' need for credit and how they go about it.

The campaign ahead will initially be led by the digital medium, before moving to a more 360 degree nature.

"There is a fair amount of education that is to be done in the space. It often happens that people tend to not have a detailed idea of their past credit such as earlier loans, repayments and credit card payments. People have to be educated how it is to be better informed about their credit history," Basu says.

The account size could not be ascertained, with the approximate spends earmarked for communication still being worked on.

CIBIL was earlier promoted by the State Bank of India (SBI), Housing Development Finance Corporation Limited (HDFC), Dun & Bradstreet Information Services India (D&B) and TransUnion International Inc. (TransUnion).

The shareholding pattern has now been diversified to include other banking entities and NBFCs such as Bank of Baroda, Bank of India, HSBC, Indian Overseas Bank, Sundaram Finance, Punjab National Bank, Union Bank of India, Citicorp Finance (India), ICICI Bank, Central Bank of India, Standard Chartered Bank and GE Strategic Investments India, besides the ones mentioned earlier.

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