Overview

Ujjivan Financial Services was founded with the mission to improve the quality of life of the economically active poor people, unserved and underserved by the financial institutions of the country. 

In 2015, Ujjivan received approval from the Reserve Bank of India to set up a small finance bank. This undertaking required Ujjivan to transform its brand from a financial services company to a bank, aimed at providing complete financial solutions to its audiences in India (including small and marginal farmers, micro, small and medium enterprises).

We were assigned to lead this rebranding initiative with careful considerations that included taking its 3.7 million customers and 10,000+ employees along in the journey, step by step.

What we did

• Audience research and insights

• Customer journey map

• Brand positioning

• Brand manifesto

• Brand identity

• Space design

Outcome

The rebranding efforts resulted in a grand vision leading to strong alignment between the internal stakeholders, alleviating any doubts and confusion about the massive change.

The brand story inspired hundreds of Ujjivan employees to make positive contributions towards the brand’s communication amplifying the success of this project.

Soon after rebranding, Ujjivan received approval by the Security and Exchange Board of India to file for an initial public offering that was oversubscribed 170x by the final day of bidding, making it one of the most subscribed IPOs in India’s primary market.

Interesting facts about Ujjivan’s reach

Learnings

• Managing the undertakings of a “brand” is as much about its employees as it is about its customers

• Whether it’s a brand revolution or evolution, familiarity and resonance is key

Audience research

The three-tiered audience immersion approach included visiting branches across geographies (north, east, west and south India) and functions:

• Individual stakeholder interviews: We learned about institutional mandates, company culture, values and pain points, helping us distinguish operational challenges from brand challenges 

• Group discussions + Branch visits: These conversations shed light on the social, cultural and economic challenges that Ujjivan customers experience. We also gained insights on banking behavior by observing customers at branch locations

• Day in the life of a farmer: By visiting the homes of some of the customers and staying with them, we immersed deeply in their day-to-day lives identifying powerful behavioral insights especially through the lens of their financial / transactional needs

Customer insights

• Proud but not privileged: They’re self-respecting people who believe that there’s no substitute to hard work

• Limited means but unlimited dreams: Despite social and economical challenges, they want to provide for the generations to come and our relentless in their ambitions

What we heard from the employees

“We need to take those who are with us, ahead by making the process seamless and inclusive.”

Opportunities and challenges

From our conversations with internal stakeholders, it was clear that one of the biggest challenges with this rebranding was going to be retaining the company’s culture rooted in trust and compassion. Secondly, bringing everyone together in this change was also crucial given the scale and magnitude of the change. 

So, every brand touch point from the logo to the space design was carefully considered and checked against the core company values. We led conversations with a brand story, that helped build an emotional bridge from the old Ujjivan to the new one, keeping all the values intact and inspiring positive conversations. 

The next phase for Ujjivan was expected to help everyone in its arena grow and build better lives together.

Positioning statement

Catalyst for your growth

• Catalyst: Ujjivan accelerates the development of its stakeholders while retaining its intrinsic values of a decade long heritage

• Growth: Ujjivan builds relationships while constantly improving the lives of of its stakeholders

• Individualistic: Ujjivan is poised to transform from being an organisation which assists people as a group to one that empowers all individuals to grow independently

Brand manifesto

You work hard. You aspire. You wish for a honest good life and a future for your children.  We see that. You see opportunities that will bloom in the days ahead to make you and your kin walk forth. 

Then there are hurdles. Stones and deep sand, hard heat and dust storm that can make you give up early. We see that too. Do not tire or wilt my friend. For all you need is the wind beneath your wings to make you grow, to soar above new horizons of progress, reach the realm of comfort that you need. And we stand behind you. Ujjivan is about you. Ujjivan begins with you.

Brand identity

As Ujjivan embarks upon its journey to expansion, this brand mark aims to retain the brand’s core values of human-centric banking. The illustrative form is a combination of a nurturing flower and a bird set to take flight. The flower is a metaphor for growth while the bird symbolises freedom and the aspiration to live your dreams.

Team

Surabhi Rathi, Prtish Tandon, Kinshuk Bose, Disha Amin and Manjunath.

Leadership: Shivakumar Viswanathan, Managing Director, Brand Union.

Client: Ujjivan Small Finance Bank.