The news: Revolut launched its first major marketing campaign, pitching itself to “money underdogs” as their “way in” to new banking opportunities, per Marketing Week.
More on the campaign: The digital bank hinted earlier this year that the campaign was in the works, and at the time it hired 45 new marketing staff and invested in performance marketing, analytics, and insights.
The campaign, titled “Your way in,” launched last week with a TV commercial that depicts how people can “break into” new parts of the banking world. It features various characters crashing into areas across the world. Examples include:
The TV commercial was directed by Craig Gillespie, who directed movies such as “Cruella” and “I, Tonya,” and was shot by young photographer Aidan Zamiri, who’s worked with artists like FKA Twigs. In addition to the commercial, ads will appear on billboards, Revolut’s social media pages, digital marketing channels, and podcasts.
What’s the goal? The campaign was launched just as the neobank reached 5 million UK customers and 20 million customers worldwide.
Will it work? Revolut’s attempt to bring excluded customers into the banking world plays to consumers’ growing interest in inclusiveness and social justice. But labeling the underserved as “underdogs” might hold a slightly negative connotation, and the term is a bit unfocused.
Ironically, Revolut itself might struggle to access “new banking worlds”—it hasn’t been able to obtain a UK banking license due to compliance and security concerns around its crypto offering. And it seems it will also struggle to get a US banking license without first getting one in the UK.
The big takeaway: Revolut dedicated a lot of time and resources to bring in highly regarded marketing talent and build a brand founded on inclusion. But it has fallen flat in identifying a specific target audience.
This article originally appeared in Insider Intelligence’s Banking Innovation Briefing—a daily recap of top stories reshaping the banking industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.