Spikes Asia
TATA CAPITAL, Mumbai / TATA / 2017
Awards:
Overview
Entries
Credits
Background
Situation: In India, 40% of the people don’t have access to the organized financial system. Majority of them belong to the marginalized section of the society and their hope of a better life is a loan. But unfortunately, absence of a
credit score makes them unworthy of a loan. Credit assessors do not evaluate people on their dreams and ambitions but focus only on their credit score.
Brief: Tata Capital wanted to make loans accessible to all.
Objective: Garner public support to make loans accessible to people who do not get a loan due to the absence of a credit score.
Execution
Twitter influencers like Gul Panag, Ranvijay Singh, Rahul Bose, Saina Nehwal and Geeta Phogat encouraged the online community to caste their salaams (Likes) and help deserving applicants to get on the platform for a loan. Native content platforms such as ScoopWhoop and The Better India endorsed the innovative product garnering more support from prominent news portals like Business Standard & TOI to support the cause.
Gauri Sawant, India's popular transgender activist elaborated how Salaam Loans would benefit her, at a press meet. While the soft launch took place in March, the campaign was launched on April 2017.
After launch, RJ Gautam (one of India's most popular RJ's) from Radio Mirchi hosted an impromptu radio show for Salaam Loans. India's No.1 financial news channel CNBC India appraised Salaam Loans with the headline, "Tata Capital replaces the credit score with Likes". Publications across the country carried the news of Salaam Loans.
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