The mBank advertising campaign – has a thin red line been crossed?

At the end of last year (November 2000), we witnessed the spectacular market entry of mBank – the first virtual bank in Poland. Advertisements in the press, on the radio, on television, huge billboards -all this did not so much inform as shout: -we take people and money seriously (unlike traditional banks), -the competition gets off at the interest rate station (the best interest rates on the market: deposits a vista emax – 16.5% and ekonto osobiste – 15.5%), -mBank – a virtual institution that you don’t have to go to (available by phone, internet, mobile phone; always open: 24 hours a day, 7 days a week). This aggressive campaign, described by some as suave, witty and ridiculous, by others as brazen and detrimental to the industry’s interests, stirred up a great deal of controversy. While presenting the arguments for and against, we will also present our own point of view, how we – after all, potential mBank clients – view this form of promoting and offering financial services. We will try to read something from the -crystal ball, which will help us to look at the issue from the perspective of these few months of mBank’s activity and knowledge about the reaction of the competition (entry of other virtual banks into the market, e.g. Inteligo promoted even more aggressively, bluntly, intriguingly, even shockingly). Revolution or advertising gimmick? The Internet is no longer just a source of information. It is entering new areas of our lives at a rapid pace.