Yubi aims to build trust in the FinTech space amongst its consumers: Karanpreet Bindra

The debt marketplace, CredAvenue, has announced its rebranded identity called Yubi.

With this, the brand aims to capture the company’s long-term ambition of being ubiquitous in the debt ecosystem and creating an infrastructure that enables financial credits globally. 

Furthermore, Yubi aspires to reach customer touchpoints through the brand’s channels, including its website, social media handles and existing product lines. It aims to cater to a more consistent brand experience for its customers, that is in line with its brand philosophy of ‘Go Get Great’.

Campaign India spoke with Karanpreet Bindra, chief marketing officer, Yubi, to pick his mind on their re-branded philosophy, marketing strategy, and trends in the FinTech space that will help garner consumer awareness. 

Edited excerpts: 

What was the intent behind rebranding CredAvenue? How will this revamp benefit your consumers?

We have a global ambition and are hoping to open a lot of product lines by expanding in many countries. The important factor is that the brand should reflect our purpose. CredAvenue was founded with the purpose of wanting to build an infrastructure to empower the debt markets globally. The debt to GDP ratio in India is only 60%, while in the US it is 160%. 

We intend to revamp, so that people, businesses and companies have access to capital and prudent capital. Our journey has tried to take care of the entire end-to-end debt process, right from collecting borrowers and lenders, to ensuring that the deals are fulfilled and executed efficiently. We aim to have a full stack, with our vision of where we want to lead the debt market space. Thus, we thought it should be communicated in the form of branding.  

What marketing initiatives have you undertaken, to talk about the rebrand? 

All of our efforts would mean nothing if we don't go out and spread the message about it. So, we have built an extensive plan that factors in communicating with the existing consumers, potential prospects as well as the larger world. 

To communicate the re-branding philosophy, we partnered with a global branding company venturethree. We have also partnered with all the financial dailies and business magazines to drive the message through product messages and testimonials. 

In addition to this, we will be focusing heavily on digital. Our plan includes all the digital touchpoints including the counterparts of the business publications, including the standard trinity of YouTube, Facebook and Google. 

Watch the ad film here: 

A trend that you intend to build on…

The trend which comes to mind is the one we are riding on. We are hoping that it takes the centre stage in building trust. There is a trust deficit, especially with FinTech. Traditional banks are still considered authoritative brand names, while we are still perceived as a novelty. 

Yubi will aim to fill this gap and create an environment where we are empowering the ecosystem. We are hoping that with this re-launch, we will be able to bridge the trust deficit, both at the lender and the borrower levels.