Cencosud: Case study

Credits & Description:

Agency: Wunderman BA
Client: Cencosud
CD: Sebastian Tarazaga / Dany Minaker
Agency Producer: Laura Martinez
CW: Dario Ventura
Assistance: Maria Jose Cruces
Designer: Damian Lavandera
URL:: http://www.hackfinanciero.com/
Art Director: Damian Lavandera
Production Company: Gloria Films / Checco
Director: Federico Gianotti
Agency: Wunderman Buenos Aires
Advertiser: Tarjeta Cencosud
Product: Financial Hack
General Creative Directors: Sebastian Tarazaga / Dany Minaker
Creative Directors: Damian Lavandera / Dario Ventura
Production Manager: Laura Martinez
Production: Josefina Espil
Head of Strategy: Matilde Yvert Rankin
Managing Director: Victoria Cole
Accounts Group Director: Mercedes Cores
Accounts Executive: Maria José Cruces
Head of PR: Daniela Tucci
Music Band: Swing Music
Production Company: Gloria Films / Checco
Director: Federico Gianotti
Executive Producer: Fabian Zayat / Juanse Guzzo
Editor: Nicolás Victoriano
3d Animator and Ilustrator: Gabriel Montes
Client’s representatives: Analia Riganti / Jessica Villareal

Synopsis:
Credit limit is based on people’s income, their assets and risk level. In South America, the informal labor rate is high, making it hard for people to have the documentation needed to upgrade their credit limit.This system usually benefits the ones who have more.Tarjeta Cencosud, one of the most important credit cards in Argentina, wanted to make the financial system more humane.Our insight was that a financially charitable person is a financially responsible person. Our strategy was to leverage this insight to increase the credit limit of deserving Tarjeta Cencosud card holders.That’s why we hacked the formula that determined people’s credit limit and added a new variable to it: generosityTo test the insight, Tarjeta Cecosud partnered with one of the most recognized NGOs in South America, Techo, which has multiple initiatives to fight poverty. We launched an online platform where Tarjeta Cencosud credit card holders can donate directly to Techo to automatically upgrade their credit limit. The launch was communicated on card holders monthly statements, Tarjeta Cencosud’s website and a video in our social networks. As soon as it was launched, donations started to flow and credit limits were upgraded. Due to the immediate success, the platform will remain active indefinitely and Tarjeta Cencosud is working to partner with other NGOs.In just a year after the launch, Techo used the Tarjeta Cencosud donations to build more than 200 houses for those in need. Additionally, 99% of clients who received an upgrade on their credit limit, paid the total amount of their balance on time unlike a 78% of the clients who upgraded without donating. We increased brand sentiment and created a successful financial system that rewards those who give more.