Situation:

A three-year study finds that gen z are looking for ways to live a bank-free existence in the future.

When Scratch polled 10,000 gen z to find out which industry was most prime for disruption, the results were clear: Not only did banks make up four of their top 10 most hated brands, but gen z increasingly viewed these financial institutions as irrelevant.

Brief:

So let's face it, the banking industry is aging and fintechs are getting into the game, that's because generation z is leading that trend.

What the heck can we do to avoid this?

Objective:

To attract the younger generations, the oldest bank in Colombia decided to create a revolutionary financial product to allow thousands of young people to attend the largest and therefore the most expensive music festival in the country.

We already knew that Banco de Bogota would sponsor the biggest music festival of the country.

But we realized that it was not enough just to sponsor the festival, we needed something more relevant, something that would really generate a positive feeling.

A bank loan created to buy tickets for the biggest music festival in Colombia and also the most expensive: Festival Estereo Picnic.

A music festival with artists such as: The Strokes, Foo Fighters and J Balvin.

So let's think, in this way, the bank not only became the main sponsor of the festival, but also made it possible for thousands of young people to attend it, even many for the first time.

In your face fintechs!

Banco de Bogotá is the oldest bank in the country, so it is perceived as an institution from another era. And the current era is dominated by fintechs, young organizations.

So they decided to sponsor the coolest music festival in the country, one where all the young people would be, but it wasn't really enough to just sponsor.

So we took the biggest insight from a bank:

"I need a bank when I need money."

And we turned it into a banking product, the first credit to buy tickets for the biggest music festival in Colombia and also the most expensive: Festival Estereo Picnic.

But to be able to create a financial product is very difficult, it requires approvals from the president, lawyers (many), legal terms, blah, blah, blah, you know.

But when we did it, we managed to create the first credit of a whole generation.

Banco de Bogotá became the sponsor of the Estereo Picnic festival in 2021, but they realized that that was the same as nothing. Just another brand in a music festival.

So they needed to do something that no bank had ever done before, but we couldn't just be a bank pretending to be cool, we had to do it for real.

So we decided to create a banking product.

But to be able to create it is very difficult, it requires approvals from the president, lawyers (lots of them), legal terms, blah, blah, blah.

But when we did it, we realized that we managed to create the first festival of a whole generation, that's a lot.

And weeks before the festival we decided to make a digital, billboards, news and radio launch announcing: your first loan ever.

The first great result was to allow a lot of young people to attend the festival when they thought they would have to watch it on instagram.

But it was even more of a surprise when we realized that the positive sentiment from the youth sector grew by +79.5

We achieved more than 40 million impacts through our communication and 4039 were requested for the first time by new users.

We went from being the oldest bank in the country to the youngest bank in the country.

From now on we will be the bank that allows young people to access what they always wanted but could not do before.