Lendela takes hilarious jab at issues loan-seekers face in new campaign

Singapore-based fintech platform Lendela has launched a bold new campaign that takes a lighthearted jab at the frustration borrowers experience with the traditional lending process. 

Titled "No more bullshit, just straight answers", the campaign parodies the experience of seeking a personal loan in Singapore in a short. Running across TV, radio and socials, "No more bullshit, just straight answers" aims to start a fresh conversation about the overlooked difficulties the average borrower faces in what should be a relatively straightforward process. 

The short starts with a man calling someone on the phone. His call gets picked up by an old sage. The man asks questions about a potential loan, but the sage interrupts him with unhelpful riddles instead of clear answers. The man eventually gets frustrated and puts his phone away. The short later sees him happily scrolling through various loans on Lendela with ease.

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The short was created in collaboration with creative production house Breed. Meanwhile, the sage character aims to represent the lack of transparency in the traditional loan process. The sage’s cryptic and over-the-top behaviour is also a satire of customer service representatives who often leave borrowers helpless and frustrated when seeking clarity on a variety of matters, from eligibility to loan terms.

"We wanted to express a common pain point many Singaporeans face — the frustration that often accompanies the search for an ideal loan, when you’re asking a straightforward question and being met with roundabout non-answers — in a humorous and relatable manner. By exaggerating the borrowing experience, we tapped into a brand of frustration and learned helplessness that almost all of us can relate to," said Keith Kwek, filmmaker and founder of Breed. 

On social media, the brand took the comedy up a notch with memes of the characters in their TV commercial. The memes, created with creative agency Boom, aims to spread the brand's message to its TikTok audience in a way that will resonate. 

"While many Singaporeans take out personal loans, very few feel they can talk about it due to social stigma. This has resulted in higher borrowing costs, less transparency in the industry, and a 'loan-ly' journey for most that ends in frustration, anger, and helplessness," added Vanessa Ng, head of marketing at Lendela. "With this campaign, we wanted to challenge that notion. Why can’t borrowing be simple, transparent, and even pleasant? This campaign was our way of showing that there’s a better way to borrow, using some good old humour to break down barriers."

The financial sector in Singapore is recently seeing more bold and fun campaigns centering on the topic of accessibility for the average consumer. In August this year, Chocolate Finance unveiled a short with its newly appointed brand ambassador and investor Crazy Rich Asians actor Henry Golding.  

The campaign, titled "Make life richer", launched the brand's spare cash management account and injected fun and flair into finance. It also featured OOH advertisements located at MRT stations where Golding and characters from the short film are seen taking a group selfie, dancing and more. 

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