Mumbai: Federal Bank, a private sector banks with a rich legacy, has announced the appointment of acclaimed Bollywood actress Vidya Balan as its first-ever brand ambassador. This significant milestone in the bank’s brand evolution was unveiled during a special ceremony in Mumbai, where Ms. Balan was presented with a commemorative memento by Mr. K.V.S. Manian, Managing Director & CEO of Federal Bank.
This partnership marks a key moment in Federal Bank’s strategic evolution, as it continues to enhance its market presence and transformation. The bank’s senior leadership had recently outlined a clear vision for its future, with brand transformation being one of the pivotal themes.
M V S Murthy, Chief Marketing Officer of Federal Bank, explained the strategic choice behind selecting Vidya Balan, “We are super-stoked to have Ms. Vidya Balan champion Federal Bank. She is versatile, appeals across demographics and gender, has a pan-India fan following, and is multi-faceted. An actor’s actor, she becomes the character on camera while continuing to charm us in her interpersonal interactions off-screen. Her preparation, desire to understand nuances, and consideration of various scenarios all contribute to her ability to bring out the essence of every role she plays. We have experienced this as we sought to bring her on board. At Federal Bank, too, empathy is our segue to understanding and servicing our customers. It’s a universal trait that transcends geographies, generations, and customer demographics. Our NPS scores and Peer Comparison in Nielsen studies clearly indicate the stripes we have earned by being a ‘Human at The Core, Digital at The Fore’ Franchise. Much like Vidya, we too make light of our chores and celebrate the wins created through the collective effort of our teams. I am sure Vidya will power prosperity for everyone associated with Federal Bank. Character, Culture, and Customers are how we celebrate ourselves and the brand.”
Vidya Balan, known for her versatile and critically acclaimed performances in films such as Kahaani, Parineeta, and Shakuntala Devi, expressed her excitement about the collaboration: “Being an ambassador for varied brands in the country, I believe we are telling the India story to the world. And Federal Bank makes the cut, in terms of powering our economy from down South to up North. They have a very broad brush when it comes to having a generationally loyal franchise, being the leading employer for women in the country, and creating a work culture where people stay and contribute to all-round growth. I am deeply appreciative of their efforts in supporting communities and causes, while continuing to build a very robust business. I genuinely sense the vibe when Federal Bankers tell me that they are ‘Human at the Core, Digital to the Fore’. Looking forward to a very exciting ‘Rishta’ with Federal Bank.”
The multi-year partnership will include a range of marketing initiatives, including television commercials and digital campaigns. Federal Bank aims to leverage this association to further deepen its engagement with its stakeholders and take its brand story to the world.
As Federal Bank embarks on its breakthrough journey, this collaboration with Vidya Balan is poised to bring the bank’s vision to life, similar to how Vidya has redefined female leadership in Indian cinema. The bank, at this juncture, is pursuing breakthroughs across product propositions, service lines, and geographies, continuing its legacy of growth and innovation.
