Floating rates: RaboDirect and Shine channel challenger spirit, take aim at big bad banks

Youtube VideoWhen it comes to challenger brands in the financial space, the ‘watch out for those big greedy, sneaky banks’ theme is a fairly common one. Kiwibank has been on that buzz since ages ago, NZCU launched its get your bank off your back campaign last year and now RaboDirect and Shine have taken a similar approach with the ‘Greedy Banks’ campaign. 

“These ads are all about RaboDirect’s strengths and highlight the nature of our offer, namely high interest rates, no fees and no hidden surprises,” says Melanie Templeton, who was appointed as the new general manager for RaboDirect New Zealand in February this year. “They reflect how RaboDirect offers New Zealand savers a different type of banking relationship. We don’t ‘clip the ticket’ all the way through.”

Templeton—a “Scottish Kiwi”—has worked with the bank for six years, and has held senior roles with RaboDirect in Australasia and Europe. She led the successful ‘Lazy Money‘ campaign for RaboDirect in Australia in 2010 and was also part of establishing RaboDirect in New Zealand in 2006, so she brings plenty of experience and a focus on strategic marketing and business development.

She says the new campaign, which follows on from Shine’s last effort in 2010 after it won the account off Ogilvy, is part of an effort to increase the ‘straight talking online bank’s’ presence in New Zealand this year. More specifically, it hopes to grow its customer base by 15 percent and provide more deposit funds for its parent Rabobank, the rural lending side of the bank’s business in New Zealand.

“As New Zealand’s only specialist online savings bank, we focus on savings services only. We are committed to delivering consistently competitive interest rates across a range of products, so that New Zealand savers can get ahead with their savings … Our ‘New Money’ bonus structure was new to New Zealand. Other bonus products in the market have super low base rates and criteria people have to meet to get the top rate.”

Youtube Video

As well as this regular above-the-line advertising fare, it seems RaboDirect is also aiming to corner the bicycle-loving banking market and launched its BikeRide iPhone app late last year with the help of committed ‘pedal-file’ Jon Bridges and his entertaining, anti-unicyclist promo clip.


Agency:  Shine

Creative Director:  Lucien Law

Agency Producer:  Michele Delaney

General Manager:  Simon Curran

Copywriter:  Jeremy Taine (string theory)

Film Company:  String Theory

Director:  Damon Duncan

Executive Producer:  Nick Barnes (string theory)

Post Production:  Toybox

3D:  Assembly

music composition & SFX:  Liquid Studios

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