STANBIC BANK
DADA
Out of a population of 47 million people in Kenya, approx. 50% are females. 82% of the total savings in Kenya are by women. 72% of women contribute to the household budget and make key buying decisions. However, women are under presented when it comes to financial inclusion.
2019 -
Where do they want to end up?
- Introduce a sub-brand aimed at specifically banking women.
- Achieve 5% market share.
What stands between them?
- Barriers of entry into banking have reduced with non-traditional players now offering banking services like credit and payments.
- There are many players and very little differentiation between them with most players positioning themselves as transaction enablers.
The Strategy
Introduce a sub brand specifically for women called Dada. The role of the Dada is twofold:-
- Inspire Kenyan women
- Provide them affordable products and services
- Find a compelling narrative in order to position Stanbic Bank as the bank of choice for women in a way that will: -
- Create Awareness
- Drive uptake of services