The Chin Family (IFEC): Redefining Financial Literacy in Hong Kong

Introduction:

In an effort to improve financial literacy among the general public in Hong Kong, the government body formerly known as the Investor Education Centre (IEC) has undergone a significant transformation and rebranding.

The newly launched initiative, now called The Chin Family or IFEC (Investor and Financial Education Council), aims to address the lack of appeal and engagement associated with the previous brand identity. Through a comprehensive focus group study, it became apparent that there is a strong need for accessible and credible financial information in Hong Kong, without the perceived sales agenda often associated with such content.

Simplicity as the Key:

The Chin Family's brand strategy centers around the concept of simplicity. Recognizing the fear and intimidation that many people experience when faced with financial information, the initiative aims to provide a simple and easily understandable platform for learning. This is achieved through three key pillars: simple purpose, simple language, and simple access.

• Simple Purpose:

The Chin Family emphasizes that its primary purpose is to provide unbiased financial education to the public. Unlike other content providers, there are no sales agendas hidden within the information shared. The focus is solely on empowering individuals with the knowledge and skills to make informed financial decisions.

• Simple Language:

Breaking down the barriers created by financial jargon is a pivotal aspect of The Chin Family's approach. The initiative strives to communicate financial concepts in a clear and straightforward manner, ensuring that everyone in society can access and understand the information provided. By using plain language, the initiative aims to demystify finance and make it more relatable to the everyday person.

• Simple Access:

Recognizing the importance of accessibility, The Chin Family offers multiple channels for individuals to access financial information. The initiative provides a user-friendly website with free online resources, ensuring that information is readily available to all. Additionally, The Chin Family leverages social media platforms and organizes offline roadshows to reach a wider audience and make financial learning hassle-free.

Visual Identity: The Chin Family Characters

To engage individuals of all ages and backgrounds, The Chin Family introduces a set of cartoon characters that represent different age groups. The characters, each with their unique personalities and life situations, allow individuals to access relevant financial information that aligns with their specific needs. The name "Chin Family" is a play on words in Cantonese, meaning "The money family," adding a touch of familiarity and relatability to the initiative.

Brand Rollout:

In collaboration with multiple agencies, The Chin Family launched an extensive brand rollout campaign across various mediums. Television advertisements, events, and social media platforms were utilized to introduce the new brand identity and promote financial literacy. The characters from The Chin Family were integrated into social media content, further enhancing engagement and creating a recognizable visual presence.

Recognition and Success:

Awards:

The efforts and achievements of The Chin Family have been widely acknowledged. Alex Liu, who served as the lead strategist for the project at Brand Union, played a vital role in the successful rebranding. The initiative was honored with a gold medal at the Transform Awards in 2015, further validating the impact and effectiveness of The Chin Family in reshaping financial literacy in Hong Kong.