Beyond the logo – brand value in the banking and fintech sector
What does corporate identity really mean? That was the overarching question posed for the ‘Beyond the Logo’ panel at the Financial Promoter Live event in London. With more than 15 years’ marketing experience in corporate environment, our Group Marketing and Corporate Communications Manager, Theoni Dimopoulou, was well-equipped to contribute to a lively discussion on the topic.
Exploring the balance between strategy and visual identity, the panel discussed the importance of establishing a consistent visual style that articulates the values and mission of the brand to create a cohesive playbook of visual identity, tone of voice, purpose, and culture.
Why is corporate identity so important in the financial sector?
In the financial sector, corporate identity is much more than a logo, strapline or mission statement – it is a business asset.
As Theoni commented during the discussion, “products are often commoditized and intangible, so the brand, often experienced as the payment card, is frequently the only differentiator a customer can feel. Therefore, brands that communicate with clarity, consistency and authenticity stand out dramatically.”
Brand really matters, the panel agreed, because it is about trust, confidence and authenticity. The brand has to be about much more than a striking logo or consistent color palette (as important as those may be) – it has to evoke trust and confidence across a complex ecosystem of stakeholders, including internal audiences, partners (upstream and downstream), and industry bodies, as well as customers.
Achieving a corporate identity that works
The Financial Promoter Live panel discussed how to achieve that cohesive corporate identity imbued with trust, confidence and authenticity. They agreed that it must start with insight and strategy, rather than visual design, embedding feedback from deep client and prospect interviews, along with internal surveys, and workshops with employees.
“The temptation is to start with the logo,” Theoni commented, “because it’s visible, it’s exciting, and, let’s face it, it gives people something to react to in a meeting! But starting with the logo is almost always a mistake.
“Instead, the process should start with an honest audit of perception gaps. What do we think we stand for? What do clients actually experience? And what do we want to stand for as the business evolves?’
Visuals should come once the strategic layer is settled, the panel agreed. In that way, the visual identity articulates the brand, rather than leading it, making abstract brand values immediately legible without a word of explanation. “In our sector, where products are often technically complex,” Theoni commented, “translating the intangible into the visual is a genuinely essential part of the corporate identity development process.”
Rebranding challenges
Having discussed the elements of a powerful corporate identity and the process for arriving at a cohesive branding approach, the panel moved on to discuss the challenges of a rebrand. Often playing a key role in navigating a company’s corporate journey through change, such as acquisitions, digital transformation, or an evolving market focus, for example, a rebrand poses the tricky dilemma of how much do you need to hold onto brand equity, and how much do you need to refresh your brand to communicate positive change?
The panel agreed that the ‘keep vs change’ debate depends on brand maturity and the value of the organization’s heritage – which includes the trust, confidence and emotional attachment of both internal and external stakeholders.
Younger brands have more freedom to change, whereas those with a distinctive heritage must be careful not to water down the elements of their corporate identity that make them so unique.
However, as the panel discussed, this is a balancing act, fraught with pitfalls. Not all ‘tradition’ evokes trust and continuity, sometimes, it simply means outdated. For example, the panel explored a scenario whereby a brand that felt appropriately serious and institutional a decade ago, might now read as cold or inaccessible in an environment where customers – or target customers – are increasingly digital-native.
The panel agreed that rebrands must be led by strategy rather than the impulse to create something new. And there is often a middle ground between clinging to heritage and leaving it behind. For example, a traditional brand might sharpen the visual language, warm the tone, and show up differently in digital channels while retaining the underlying promise of precision and reliability.
The Physical brand experience
The panel’s discussion of how banks and fintechs can nurture a physical and emotional connection between their customers and their brand was an area where Theoni could bring specialist expertise to the conversation. Payment cards are a crucial touchpoint and fintechs and banks can deliver powerful brand impact directly into their customers’ hands with differentiated cards. The panel discussed mirror finishes, LEDs, special materials, and even scents – all achievable, if not mainstream. But Theoni outlined how even mass market card products can provide differentiation and customer value through design, colour, finishes and material selection, thereby becoming a tangible brand touchpoint, indeed, sometimes the only tangible brand touchpoint.
Theoni was able to explain some of the innovative ways in which Tag Systems can help banks and fintechs leverage a brand experience with payment cards. She discussed the possibilities for customization, where cardholders can upload a drawing and/or message when they order their card, which is then applied to the front of the card during personalization, creating a unique card that enhances the link between the cardholder and the card issuer and delivers a talking point that further amplifies the brand.
She outlined the level of focus many banks and fintechs place on card design because they know the important role of payment cards in differentiating in the physical world. For example, she explained, moving the cardholder and card data to the back has allowed issuers to make the most of the promotional space in their customers’ wallets.
Theoni also highlighted the role of payment cards in targeting growth in particular segments. For example, by creating designs that appeal to young demographics to attract customers to youth accounts, or using metal cards to attract high net worth cardholders with a material that is more exclusive. These strategies not only communicate to customers that their bank or fintech knows and understands them, but also encourages a top of wallet status that will amplify the brand.
Branding in action
Our team moved straight from the Financial Promoter Live event to focus on Pay 360, where we showcased how we bring brands alive with the payment cards their customers carry. Did you catch us on our stand, I34 at Excel London?
