Why don’t people associate strong branding with banks or financial institutions?
When people think of great brands, they tend to think of clothing, food, or tech—not their bank. Financial institutions are often seen as functional and transactional, tied to the necessary routines of daily life. They’re rarely viewed as aspirational or exciting.
But great brands transcend transactions. They mean something to people. They become part of their identity, consciously or unconsciously. Financial institutions have a real opportunity here. The question isn’t why banks aren’t thought of as strong brands—it’s why shouldn’t they be?
Why is a strong brand experience so crucial for banks and financial institutions?
Financial services, or money, is emotional—it’s tied to trust, aspirations, and sometimes stress. In financial services, where many products feel the same, a strong brand sets you apart. Financial institutions often miss the opportunity to narrow in on their unique selling proposition. Who are you? Who do you serve? How do you serve them? What makes you different?
A great brand isn’t just about functionality. It builds trust, fosters connection, and creates loyalty—all essential when people are entrusting you with their financial well-being. It also reshapes how banks are perceived, moving beyond the purely transactional to become valuable partners who have a shared mindset with their customers.
Just as importantly, a strong brand starts with your people. Employees who feel connected to your brand deliver better customer experiences. Your culture and internal values directly impact what your customers see and feel, whether they’re in a branch, online, or on the phone.
What are the benefits of an exceptional brand experience? And how do you measure that?
The results speak for themselves: stronger customer acquisition and retention, increased adoption of products and services, and greater lifetime value. A great brand drives word-of-mouth referrals and keeps you top of mind.
We always tell clients to monitor both internal and external metrics. Look at KPIs like cost per acquisition, customer satisfaction (C-SAT), NPS scores, and employee engagement. These, and other metrics, are indicators of brand health and the foundation of sustained growth.
What challenges are financial institutions facing in 2025?
The challenges are real and growing. Fintech companies continue to disrupt traditional banking, while customer expectations for seamless experiences only get higher. Sustainability and ESG practices are no longer nice-to-haves, but expectations. Add in economic uncertainty, and it’s clear financial institutions must be more proactive than ever.
The biggest challenge, though, is trust. Consumer trust is eroding, and earning it back requires bona fide authenticity, not empty promises, and showing up for customers in ways that truly matter.
Why should financial institutions consider a brand refresh this year?
A brand refresh is your chance to step back, see what’s working, and refine your strategy. It’s about building deeper connections with employees and customers, attracting new audiences, and showing you’re ready for the future.
It’s also an investment in growth. A refresh signals confidence, reinforces trust, and positions you as a leader. With so much change happening and competition rising, there’s no better time to assess the health of your brand.
If your brand feels stagnant, now’s the moment to ask: Are we leading the conversation, or getting left behind?
