Developing Strong Bank Brands Increases Their Business Value

The Story:

New data shows that banks and credit unions understand the important role of brand identity in attracting and retaining customers to grow their organizations. With people making 95% of their decisions based on emotion, having a powerful brand that’s authentic in its values and built on humanity results in deeper customer connections and lasting loyalty. This is especially true among the coveted Gen Z and Millennial audiences, who want to support brands that align with their values.


The Takeaway:

In an industry where it’s difficult to compete on products alone, financial institutions are finding meaningful differentiation by reflecting their customer’s values through more humanized, relevant brands. Approaching customer connection through life-centricity where brands recognize customers as multi-dimensional individuals is one way to ensure that banks rise above a sea of sameness.


Source: Adrenaline, “Financial Industry Pulse Report” January, 2023