Standard Chartered picks up the tab for affluent Indians

When Goldman Sachs crunched some numbers to decipher India’s discretionary spenders—those who fly annually, order food monthly, earn over INR 10 lakh, use credit cards, and have postpaid mobiles—it tallied up to 50-60 million. These top-tier consumers rake in about $10,000 per year each.

With India’s real GDP set to grow over 6% annually from 2023-2028, affluence is soaring. By 2027, as per Goldman Sachs’ The Rise of ‘Affluent India’ report, this elite club will balloon to 100 million. In short, India’s luxury market is about to get a lot more crowded—and a whole lot richer.

And it is this cohort that most wealth management institutions are eager to tap, including Standard Chartered.

On 20 January 2025, the company launched its latest global campaign, ‘Now’s Your Time for Wealth,’ in a strategic move to grab the attention of the affluent segment. It was unveiled in India on 5 February, 2025. 

Created in partnership with Publicis Groupe Hong Kong and Singapore, the campaign highlights the bank’s global network, expertise, and wealth solutions while driving home the urgency of making financial decisions today.

This initiative aligns with Standard Chartered’s broader business objectives: achieving $200 billion in affluent Net New Money (NNM) and a double-digit CAGR in wealth solutions income by 2029.

The campaign is built on deep insights into client behaviour and wealth ambitions, as explained by Haymans Fung, global head of marketing for wealth and retail banking at Standard Chartered. “The genesis of our campaign is inspired by our clients and their wealth ambitions, now and in the future. We wanted to break away from the norms of speaking esoterically to the meaning of wealth planning and instead espouse a refreshingly human and direct tone that is in lockstep with the reality of our client needs and ambitions.”

India, with its rapidly growing affluent population and entrepreneurial spirit, plays a crucial role in this campaign. The messaging—‘Now’s the time to invest as a Global Indian’ and ‘Now’s the time to act on insight, not hindsight’—directly addresses the needs of Indian clients looking to diversify their investments and secure their financial future.

Fung explains, “The Indian market, with its growing affluent population, vibrant entrepreneurial spirit, and a strong focus on wealth preservation for future generations, aligns perfectly with our campaign’s objectives.”

India’s wealth management landscape is unique, requiring tailored solutions that cater to multi-generational families, sophisticated investors, and entrepreneurs. Recognising this, Standard Chartered is leveraging digital platforms and social media to drive high-quality leads, enhance customer acquisition, and offer personalised engagement at scale.

Evolution to a more targeted approach

The ‘Now’s Your Time for Wealth’ campaign seeks to address the hesitation many potential investors face, emphasising the cost of delaying financial decisions. With its reach across seven key markets—Singapore, Hong Kong, Mainland China, Korea, Taiwan, UAE, and India—it aims to establish Standard Chartered as the go-to wealth management partner for affluent and mass-affluent clients worldwide.

This new campaign follows Standard Chartered’s 2018 ‘Here for Good’ initiative, which focused on the bank’s broad financial capabilities and its role in facilitating growth and trade. In contrast, the latest version shifts the focus exclusively to wealth management, delivering a highly personalised message to affluent clients.

Elaborating this switch, Fung told Campaign that the ‘Now’s Your Time for Wealth’ campaign differs from the earlier ‘Here for Good’ campaign by shifting the attention to wealth management, specifically encouraging affluent clients to act now to protect and grow their wealth.

“While ‘Here for Good’ highlighted the bank's broad capabilities and its role in helping clients explore growth and trade opportunities, ‘Now’s Your Time for Wealth’ is more personalised, targeting distinct client segments like Global Indians, entrepreneurs, and sophisticated investors with tailored wealth solutions,” she explained.

However, the financial institution did lean on the insights from the ‘Here for Good’ campaign to refine the new strategy. That explains the emphasis on the importance of timely wealth management decisions and the need to engage clients based on their wealth stage. Additionally, the media strategy has evolved to incorporate more targeted and personalised messaging across digital channels.

Leveraging digital platforms for targeted engagement

Digital innovation is a key pillar of the campaign, enabling Standard Chartered to connect with clients in a cost-effective and personalised manner. Through advanced data analytics and hyper-personalised content, the campaign aims to optimise marketing spend while ensuring meaningful engagement.

Fung details this approach, “To further enhance the reach and engagement in India, digital platforms and social media will play a central role in driving high-quality leads and boosting customer acquisition for our wealth products.”

The financial major plans to use digital tools to deliver highly personalised content that speaks to each client’s unique wealth journey. This strategy aligns with the growing trend of digital wealth management, where clients expect seamless, intuitive experiences tailored to their financial goals.

Studies from the People's Research on India's Consumer Economy and India's Citizen Environment (PRICE) have indicated that the number of ‘super rich’ households in rural India is increasing at a faster pace compared to urban areas. However, they prefer to consume content that has a regional, topical and vernacular resonance.

Achieving $200 billion in net new money

The latest campaign is not about grandstanding; it is rooted in ensuring that the company achieves its outlined business outcomes. Standard Chartered has set itself an ambitious target of $200 billion in affluent Net New Money and double-digit CAGR in Wealth Solutions income by 2029.

The campaign will attempt to directly support it by focusing on affluent clients, particularly those with offshore assets and cross-border banking needs.  Fung highlights this strategic objective, “By positioning ourselves as a trusted partner for affluent clients globally, this campaign directly contributes to these objectives by reinforcing our capabilities in wealth management.”

Through targeted messaging and personalised wealth solutions, Standard Chartered aims to deepen relationships with existing clients while attracting new ones. The campaign plays a critical role in showcasing the bank’s global reach and expertise in cross-border wealth management.

Recognising the importance of strong client relationships, Standard Chartered is equipping its relationship managers (RMs) with digital tools and personalised content to enhance engagement. This is particularly crucial in a diverse market like India, where wealth management solutions must be culturally attuned and regionally tailored.

 “Through a mix of digital tools, including personalised content and resources, RMs can deliver more relevant and timely solutions to clients, particularly as many affluent individuals are internationally mobile,” Fung added.

This integrated approach ensures that clients receive tailored financial solutions that align with their specific wealth ambitions, reinforcing Standard Chartered’s position as a leading wealth manager.

Investing in martech for a competitive edge

Standard Chartered is also making significant investments in marketing technology (martech), automation, and omnichannel engagement to improve client acquisition and retention. Hyper-personalised marketing stands out as a key differentiator in the bank’s digital advertising approach.

Fung explained, “By tapping into data, we gain deep insights into client behaviours, preferences, and needs, enabling us to create more impactful, hyper-personalised campaigns. Our integrated approach follows clients through their journey, with messaging adapted for each stage of their wealth journey.”

This combination of creativity and technology ensures that the campaign delivers measurable results, optimising marketing spend while enhancing client engagement and conversion rates.

With ‘Now’s Your Time for Wealth,’ Standard Chartered is doubling down on its commitment to the affluent segment, leveraging digital innovation and targeted messaging to drive high-quality client engagement. India, as a key market, plays a vital role in this campaign, given its growing wealth management needs and global aspirations.