WeLab Bank concludes media pitch for HK

Hong Kong-based virtual bank WeLab Bank has appointed Mindshare as the sole media agency following a competitive pitch back in August.  
 
The appointment will last for two years starting 1 January 2025. This decision aligns with WeLab Bank’s ongoing efforts to optimise media planning synergy following the bank’s corporate reorganisation earlier this year that integrated WeLend as a wholly-owned subsidiary.  
 
The incumbent agencies were PHD and Mindshare. As WeLab Bank is on track to enter another new growth stage, it has consolidated its media agency partnership from two agencies to one.  
 
This strategic move not only aims to elevate operational synergy and efficiency between the two entities but also to drive growth in brands and product offerings, empowering the launch of eye-catching and innovative campaigns, according to Mindshare. 
 
Under the partnership, Mindshare will be responsible for developing and executing media strategies across various traditional and digital channels, aiming to drive business synergy and achieve WeLab Bank and WeLend’s marketing goals. 
 
Mindshare will also support the marketing activities for WeLab Bank's innovative banking products, including the popular “GoSave” time deposit, the digital wealth management solution “GoWealth,” and the personal loan product that ranks fourth in Hong Kong for new monthly disbursements, following only the major banks. 
 
These innovative solutions are designed to empower customers to achieve their financial goals effectively. 
 
“We are excited to work closely with Mindshare as we enter this new chapter,” said Crystal Wong, head of marketing at WeLab Bank. “Their innovative approach and deep understanding of our business and market will be instrumental in driving our growth strategies for WeLab Bank in 2025.” 
 
Kathy Fu, head of loan marketing at WeLab Bank, added, “By consolidating our media efforts with Mindshare, we can create a more cohesive strategy that aligns with our business objectives. We are actively developing new campaigns and anticipate that this partnership will enhance our brand presence and improve business performance.” 
 
Micheal Beecroft, CEO, GroupM Northeast Asia, said: “We are honoured to be selected as WeLab Bank's media agency and are excited to partner with such an innovative company. Together, we will leverage our expertise to create impactful campaigns that resonate with their target audience and drive measurable results.”

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