Following the January unveiling of Federal Bank’s kinetic ‘Living Logo,’ we present an exclusive dialogue with Chief Marketing Officer, MVS Murthy at Federal Bank. A transformational leader with over two decades of cross-industry expertise, Murthy has successfully bridged the gap between a century-old legacy and new-age agility.
In this interview, the seasoned strategist unpacks the vision of becoming ‘MAB’—Mobile, Agile, and Balanced—and champions his core belief that “market share is culture share.” Read on as he dissects the vital harmony between AI-driven capacity and the enduring human warmth of the ‘Rishta’ legacy, redefining relevance for a digital-first India.
You spoke earlier about catching the ‘pulse’ of a community. Interestingly, your recent brand refresh introduces a ‘Living Logo’—a kinetic identity that breathes and moves. Does this fluidity signal a deeper strategic shift, with Federal Bank evolving from a traditional institution into an adaptive lifestyle enabler for a younger, digital-first India?
Let me first reframe the idea of a “traditional institution.” We are among India’s oldest brands and among the few that have crossed 100 years plus of existence. To stay relevant for that long, there have to be strong moorings in core values—which are often read as being traditional. At the same time, there has been an ongoing, consistent transformation to address new geographies, customer segments, and businesses.
That’s where a fluid logo picks up on the need to be in MAB—Mobile, Agile, and Balanced mode.
“The Living Logo is a reflection of the dream we live with, which is to be The MAB—Most Admired Bank (read as Brand).”
And admiration, as you rightly put it, is a function of being adaptive across lifestyles.
Federal Bank has carved a unique niche as the ‘silent engine’ powering many of India’s leading neo-banking platforms. How does this Banking-as-a-Service strategy influence your direct-to-consumer narrative? Is there a challenge in building your own brand equity while simultaneously empowering fintech partners?
At Federal Bank, we do not see this as competition but as complementary. When we power fintech platforms, we bring with us risk management knowledge, regulatory expertise, and deep capital reserves—often invisibly. Our consumer narrative, on the other hand, is about relationships: human warmth, contextual understanding, and reassurance at moments that matter. These two worlds don’t dilute each other; they reinforce the same core belief from different vantage points.
The discipline lies in coherence. Whether a customer encounters us through a fintech interface or a branch conversation, the experience must feel aligned in values and intent.
“In today’s ecosystem-led economy, strong brands don’t choose between visibility and utility. They master both, without losing their center.”
As a marketer, you need to make maximum use of your eyes and ears by watching people, their days, their communities, their commutes, and their conversations. It is definitely not to eavesdrop, but to catch a pulse.
My most significant learning is that market share is about culture share. The more you understand the culture of any place, the better you are able to sync your proposition, service, product, or experience.
“Over time, mass messaging has given way to a ‘Segment of One,’ an artisanal or boutique style of engagement.”
Product parity and technology porousness are challenging every C-Suite exec to create a consistent experience differentiator. So, the marketer is now expected to understand the marketplace’s culture and work on chiselling the organisational culture to match.
“Rishta Aapse Hai, Sirf App Se Nahi” struck a rare emotional balance between digital progress and human connection. How has this campaign’s philosophy evolved over time, and what new consumer or digital realities have shaped its next phase?
This phrase isn’t just a smart or contemporary line; it’s how we are as ‘Federals.’ If you visit any of our branches, you will find warmth, empathy, knowledge, and acceptance of what is not known. In the case of the unknown, teams rely on the collective intelligence of the organisation to support you. They check and revert.
The Federal Bank brand has been blessed to have such a fantastic sense of ownership that it has become the manifested marketing philosophy. We did not need to go too far in pursuit of who we are- as a brand?
As a bank in an industry that leverages technology as a tailwind for growth, we have the world’s top tech companies nudging us to do the new. At a local level, our partnerships keep us slick and shiny with the latest tech features. But the customer is the ultimate winner, for they get the best of Human at the Core, Digital at the Fore.™
This tagline is remarkable, as it can be applied to any industry, provided the people who own it can live it too.
“Savings Ki Vidya” challenged conventional gender roles and made financial literacy emotionally relatable. What was the creative and strategic thinking behind this narrative, and how did it influence Federal Bank’s broader brand storytelling?
Savings is where it all begins. Much like the journey of a thousand miles begins with the first step. We knew our strength was empathy and wanted everyone to experience that. So, that was the primary calling card, without getting distracted by where the funds would eventually go.
We understand that investments, insurance, and wealth creation are the natural progression of money streams.
“But without ‘Savings Ki Vidya’—the knowledge of savings—you can’t start.”
So again, we are reminding everyone of a common-sensical, necessary, and sufficient condition. Now, it’s a question of creating everyday moments around literacy, product features, and new services to own the space of the quintessential ‘Bank Account’—whether savings or current, as the customer chooses.
Federal Bank has been an early mover in leveraging AI through innovations like Feddy, the AI-powered virtual assistant. How has AI changed the way you approach customer engagement and marketing personalisation at scale?
From a marketing perspective, clearly, AI has allowed us to build capacity. We do ‘more marketing per marketing’ when it comes to newsletters, videos, images, search, and more. That gives us effervescence, efficiency, and effectiveness in our communication. We track all our work for impact on business and brand, which allows us to tweak and smooth out creases in communication to make it the best for the moment.
“We have had a remarkable run with industry awards when it comes to AI, and that is testimony to our ability to adapt and innovate at scale”
Meanwhile, AI is being bought not at scale but at a sampling level. What one must understand is that for it to play out successfully, it needs to cascade across organisations. It is much like a symphony orchestra: each instrument is distinct, yet comes in on cue to create a glorious experience for audiences (read as customers). As other departments across organisations start using AI, the crescendo will build up.
Looking ahead, how do you see AI shaping the future of financial storytelling? Could tools like Feddy evolve from support systems to becoming integral parts of brand experience and communication?
Yes and no. Yes, because of what I mentioned earlier regarding capacity. No, because if one does not oversee the output, Artificial Intelligence can be unauthentic, miss nuances, and spew the most obvious references or even hallucinate.
Take the word ‘Indians,’ for example. It generates different images depending on where the AI draws its language. The marketer can’t take their eyes off the ball. Of course, tech will guide you and give you lots of insights to bring agility. But the flourish of the shot is still with the human mind and its ability to put Artificial Intelligence to work
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