Bolder Thinking Blog

Chime is making banking better for everyone

August 5th, 2020 | Jeannette Ornelas

In a new 30-second spot, the neobank celebrates the diversity of its client base and reinforces its mission to make banking better for everyone by positioning itself as a helpful, easy-to-use alternative to big banks. 

Chime is competing against big banks for young mobile-first consumers, and growing rapidly; While its straightforward early wage access and no-fee value propositions resonate with underbanked and unbanked consumers.  

“We know that people need trusted financial services that are on their side more than ever. We’ve proven that banking can be free, helpful, and easy to use, and hope this will inspire more people to learn about Chime’s mission and make the switch from fee-driven banks.” –  Melissa Alvarado, Chief Marketing Officer at Chime 

Chime’s TV buys notably target a younger Millennial/Gen Z audience, with its largest primetime spend against reality programming on MTV.

What we think 

Chime is well-positioned to help the underbanked achieve financial peace of mind through its fee-free banking services.

In the wake of COVID-19 and increasing social unrest, consumers are expecting substantive actions on part of businesses they opt to do business with. Chime has touted early access to stimulus payments for its members, provided tools to help customers navigate unemployment benefits and credit building, and launched Chime In For A Cause—its latest community initiative as part of its commitment to address social injustice, fight racial inequalities, and support financial literacy.

In leading with its mission to provide financial peace of mind through fee-free banking—for all kinds of people—Chime reinforces that diversity and inclusion isn’t just about visual representation—it’s about creating equity—and that means providing financial products/services that empower underserved communities.

Jeannette Ornelas

Jeannette Ornelas

Jeannette Ornelas is a Senior Digital Marketing Analyst for Comperemedia. Jeannette is responsible for producing syndicated and custom reports and providing marketing insights across a range of industry sectors and channels.