EQ Bank wants Canadians to feel smart about banking

The digital banking service is trying to get people to feel confident enough to make different financial decisions.

EQBank

EQ Bank wants Canadians to realize how smart they are – and to encourage them to apply their intelligence in other areas to banking.

In a new iteration of its “Smart Money” campaign from creative agency Union, the digital banking service is trying to position itself as the “smart” way to bank, by avoiding things like fees they are used to from bigger financial institutions. In a series of 15-second spots, people who might feel a bit clueless about finances are shown to suddenly be in their element discussing meteorology or basketball strategy.

The campaign is part of a larger strategy to encourage Canadians to question their current banking practices. EQ Bank has positioned itself as a challenger that bucks conventional banking trends, including monthly fees and split chequing and savings accounts. It wants consumers to consider those propositions by helping them be more confident in making financial decisions, especially those that are outside the norm of what big banks offer.

“Our research uncovered that consumers want to be empowered to consider alternative options to their bank,” says Caleb Rubin, EQ Bank’s VP of marketing. “Our approach focused on unlocking this desire by showing people how smart they are – and how they can apply the same smarts to their finances.”

In addition to the 15-second spots, the campaign includes TikTok videos, Spotify radio ads, digital takeovers of several news outlets and a partnership with Sportsnet and The Score, all of which directs Canadians to EQ Bank’s new website.