Up Banking

Up, also known as Up Bank and Up Banking, is an Australian neobank based in Melbourne.

Founded in 2018, the bank is a collaboration between software development company Ferocia and Bendigo and Adelaide Bank.

Ferocia invited Rhyme & Reason to help re-imagine internet banking and customer experience to bring a more human technology platform to market.

Internet banking. Designed for now.

Supporting product development, R+R worked to build out the marketing plan via a series of workshops to:

i) Articulate the customer value proposition for digital banking
ii) Clearly segment customers and identify the most attractive target audience(s)
iii) Define Up’s brand positioning allowing for partner brand associations
iv) Outline a go to market launch considering pre-launch / launch / post-launch tactics

Secondary research into the fast-moving global digital banking and FinTech category was conducted in support of all strategic recommendations.

The business objectives were to establish a customer base before the launch, drive rapid customer acquisition at launch, and build the platform beyond launch through agile customer engagement.

Within a year of launch, Up passed the 100,000 customer acquisition mark. Up’s growth trajectory continues with now over 600,000 customers as of March 2023.

Services

• Consumer Behaviour
• Customer Segmentation & Targeting
• Campaign Planning