CIBIL puts number over name; underlines importance of credit scores to avail loans

Credit Information Bureau India Limited (CIBIL), a credit information company, has launched its first TVC. The filmfocuses on the importance of the CIBIL TransUnion score (credit score) for individuals who seek loans and credit cards from banks.

The film created by PostScript Advertising shows instances where loan seekers are told that their applications would get delayed. One instance shows a man's home loan getting delayed, while another shows a family of three being informed that their car loan would be delayed. Another instance shows an applicant trying to impress a lady executive saying his uncle is the manager of the bank’s Guntur branch. That's when a man walks in and announces his CIBIL score (750). That's enough to attract the attention of all the staff. The film shows him being treated like a celebrity, while a voice over informs: ‘Aaj kal aage badhne ke liye naam nahin number zaroori hai’ (To move ahead these days, you need a number, not name). It urges people to log on to www.cibil.com to get their CIBIL TransUnion score, to check their eligibility should they wish to procure a loan.

On the campaign, Arun Thukral, managing director, CIBIL, said, “The CIBIL TransUnion Score and credit report have been key criteria in lending decisions in India for a large part of the last decade. Our campaign carries a simple yet compelling message. It emphasises the importance that the CIBIL TransUnion Score has in the lending process and hence, creates the possibility of providing consumers access to loans more easily. This move is bound to generate large interest from consumers given that almost every loan application in the country is evaluated using the CIBIL TransUnion Score and credit report. If someone was previously not aware if they were eligible for a loan, they can now follow our simple online process to obtain their CIBIL TransUnion Score and credit report and evaluate their eligibility just like a lender would.”

Sumira Roy, co–founder and creative head, PostScript Advertising, said, “The story relates to the hardships customers go through in getting a loan for their dream purchase. It stresses that in the financial world one is recognised by numbers rather than a name. While the world entices consumers to avail of loans with promises, we thought we should empower the person applying for a loan with crucial information that banks look for when processing the loan application and give them the added confidence in knowing the true picture.”

Harshala Chandorkar, senior VP, consumer relations and communications, added, “The philosophy that we at CIBIL embrace is: You are a product of what you have created. Being diligent with payments builds ‘reputational collateral’ and you no longer have to rely on family, connections or assistance from anybody as long as you have control of your own financial destiny. This basic philosophy was weaved in with the focus of the TV commercial which is the CIBIL TransUnion Score. Couple this thought with the fact that financial strength gives you the freedom to aspire to an education and car or home ownership and we arrived at the punch line of the commercial which is: Aaj kal aage badhne ke liye naam nahin number zaroori hai.”