Cannes Lions

Cash Everywhere

OGILVY, La Paz / SOULFTWARE SRL / 2022

Presentation Image
Video
Presentation Image

Overview

Entries

Credits

Overview

Background

The main reason for choosing a bank is its number of branches and ATMs.

According to World Bank, in Bolivia, there are only 42 ATMs for every 100,000 people and they are only accessible to the most privileged.

BCP Bank wanted to change this situation. But there was a huge problem. It costs $8,000 to install an ATM and $1,000 to maintain it per year.

Our main objective was to increase the number of ATMs at least in 100% the first year and democratize the access to money with a very low budget.

And we made it.

Idea

Blink aims to turn more than 70,000 taxis and 10,000 delivery motorcycles into the world´s first mobile ATM network.

We work with the money that taxi drivers have in their cars, the money from delivery motorcycles and neighborhood stores.

You have the need for cash, they have the money in their vehicles and businesses.

We connect an offline need with an online solution.

Strategy

- There are 11MM inhabitants.

- Almost 100% smartphones penetration.

- 80% of banked people takes their salary out from an ATM every month till day 4.

- In Latin America the use of cash grew during the pandemic.

- Only 42 ATMs for every 100,000 people.

- This innovation could change the way people interact with money, going from an offline need (cash) to an online solution (the application).

- We may be talking about the missing link between traditional banking culture and the digital one.

- Taxis, delivery motorcycles and stores work with cash inventory. There are tons of money in the streets! We just needed to convert them into the first mobile ATM network in the world!

Execution

Blink is a bolivian-based application for iOS and Android. We expect to growth regionally starting on Q4 - 2022 and we hope to impact 360MM banked people in the region in 2027.

- December 2020 Blink is incorporated.

- In 2021 we integrated Blink to BCP Bank and got our first delivery ally Yaigo with more than 4000 motorcycles.

- April 4th 2022 we soft launched the app within the BCP Bank clients with an exclusivity contract.

We are planning to scale to Perú in BCP Bank on January 2023 and start an ambitious scaling offering the solution to other banks in the region.

Outcome

- We saved BCP Bank $32 million on ATMs installation and $4 million on maintenance.

- We had a 1100% growth of ATMs in just one day.

- More than US$ 0.5MM reached in worldwide earned media before launching.

- Worldwide coverage in 21 specialized media in countries such as France, UK, USA, Spain, India, LATAM countries, etc.

- More than 1MM people impacted.

- 4000 brand new mobile ATMs on the first day of launch.

- Through our main transactional partner (BCP Bank --leading bank of Perú and third in Bolivia), we impacted 6,500 customers on the first day of launch.

- We were selected as one of the Top 100 Startups in The World by Entrepreneurship World Cup 2021.

We accomplished and overcome IN JUST ONE DAY, our main objective that was planned for one year!

Similar Campaigns

1 items

Shortlisted Cannes Lions
Mobile ATMs

OGILVY, La paz

Mobile ATMs

2021, SOULFTWARE SRL

(opens in a new tab)