HSBC has become the latest global bank to harness famous sports influencers to endorse their products or services.
The bank’s Indian arm has launched a new campaign as part of its drive to expand its international personal banking customers over the next two years.
The latest series of ads feature international cricketer Virat Kohli. A five-minute film featuring Kohli will be gradually released in short snippets between 14 August and 30 September 2023.
The series of takes feature Kohli interacting with young, international students through games of cricket and social university events.
Stephanie Ng, HSBC’s managing director, global head of marketing for wealth and personal banking, said the campaign “goes beyond banking” and showcases “powerful creative storytelling.”
“Our collaboration with Virat Kohli reflects the deep-rooted positive sentiments and unwavering commitment to India,” said Sandeep Batra, head of wealth and personal banking at HSBC India.
The company’s head of customer proposition, digital and marketing (wealth and personal banking), Jaswinder Sodhi, added that the campaign was driven by its core purpose of opening up a world of opportunity for its customers.
He added: “We are committed to investing for the long-term success of our clients, globally, fostering a sense of belonging that transcends borders and resonates with international students and their parents.”
Financial services companies continue to use celebrities and sports influencers to promote their products, while international financial regulators are working hard to establish boundaries of how products are promoted through social media.
In the UK, the financial watchdog, the FCA, is currently undergoing a consultation on financial services companies’ use of social media promotions, including influencers, with a view to publishing finite guidance in September 2023.