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A National Hockey League coach once plastered the inside of his championship-winning locker room with a simple slogan: Safe is Death. He wanted his players to be creative, take chances, and break expectations at every turn.
The same philosophy can be incorporated into brand building, especially in such a competitive market as fintech. You have to differentiate yourself or risk being washed away in a tidal wave of mediocrity.
But go too far, and you might alienate certain customers or lose credibility. Threading that needle is challenging and requires a strategic approach to brand identity.
For a long time, banks, investment firms, and other financial institutions shared a common brand ethos. They knew better, so hand over your pocketbook and let them handle the rest.
This stoic, conservative image was reflected in every aspect of their branding—from the formal tone of communications to the imposing architecture of physical locations. They didn’t earn your trust, they commanded it. They reassured customers that their finances were in safe (if somewhat impersonal) hands.
It worked, as consumer expectations matched the industry’s delivery. The average person wanted to play a passive role, trusting their finances to the ones who knew better.
That has all changed.
The digital revolution has come with a more demanding consumer who wants transparency, control, and personalized service. Fintech startups, without the weight of legacy systems and traditional thinking, are rewriting the brand playbook.
Crafting a fintech brand requires empathy. You must now be able to relate with and share the feelings of your customers, giving them a tailored experience. Here are some of the key components to consider when crafting a fintech brand:
A compelling unique value proposition (UVP) is critical for any fintech brand. It defines why a customer would choose your service over others. Do you have an innovative service model? Superior technology? Lower costs?
Forget the transactional nature of traditional financial services. Fintech has to make emotional connections by aligning your brand with customer values and aspirations. If you specialize in socially responsible investing, make every brand interaction reinforce that commitment to positive change.
A good narrative can help dig through financial jargon and present your product as a gateway to a better financial future. Stories of real people achieving their goals or how your service was born out of a broken system can engage customers far more effectively than a data table.
Ever notice how a lot of financial products or institutions use blue and green in their color scheme? Those have traditionally been linked with stability, trust, and security—all things you want associated with your money.
But designing a visual identity is more than splashing some color on a website and calling it a day. It needs to make a lasting impression, be recognizable at a glance, and encapsulate your core values.
Fintech is the furthest thing from a blue ocean. There’s blood in the water, and the seas are frothing with competition. Your brand’s visual identity should boldly differentiate your startup from other established companies.
Use color, typography, and imagery strategically to convey your personality. Take Revolut, for instance. They’ve used striking pinks and purples in their color palette and offer different materials and customization, encouraging users to “match your card to your outfit.”
Turning a charge card into a fashion accessory—now that’s an innovative idea.
While a logo isn’t the entire brand, it’s still mighty important. A logo is often the first brand image a potential customer sees and should represent your UVP. It needs to be memorable enough to stick in your mind after just a brief glance while working across various mediums.
Consistency builds trust—and trust is everything in fintech. When customers interact with your brand, they should always feel like they’re in the same ‘place.’ Reinforce your messaging through consistent visual imagery and style, creating a seamless brand experience.
In fintech, the lifeblood of growth and sustainability is product innovation. It’s what sets market leaders apart and attracts early adopters. Innovative products don’t just solve current pain points but anticipate future ones.
Your product needs to offer something that no one else does or do it in a way that’s vastly superior. That differentiator is the core of your brand and what drives your messaging.
Alliances can propel your product to new heights—if they’re done carefully. By integrating with other services, products, or platforms, your brand stays relevant and handy.
But make sure you aren’t opening the gates for just anyone. The partnerships should provide expanded value to your customers without any headaches.
In an industry like fintech, adapting is critical for survival. But that adaptation must be executed without compromising the core identity and values that make your brand unique.
Innovation shouldn’t come at the cost of your brand’s narrative. Your story and the values that stem from it should anchor every new development or pivot. It’s about evolution, not revolution—adding chapters to your story, not writing a different book.
If your brand is all about personal touch and individual attention, installing an AI chatbot or algorithmic investing probably isn’t the right strategy (even if it theoretically improves your margins).
Regularly solicit feedback from your core user base to ensure you’re on the right track. The key is to find a balance between the agility needed to stay competitive and the consistency necessary for lasting trust.
Differentiation in fintech is an art and a science, demanding creativity, precision, and an unwavering commitment to your brand’s values. It involves understanding your UVP, forming deep emotional connections, and constructing a powerful narrative—all while building innovative products.
Remember, true branding is more than just a logo. It’s how customers feel about your services today, tomorrow, and ten years from now.
As you refine your approach, dive into Lunour’s branding journal. You’ll find insights into overcoming brand enemies, staying true to your convictions, and constantly motivating your team to refine your visual identity.
