Before designing a brand identity for my banking brand Square, I'll examine other successful financial brands that align with my brand values. This analysis will help me understand which key brands share similar elements with Square and provide insights into their branding strategies. For this project, I need to analyse six case studies, each covering specific points that will inform the development of our brand identity. The points I need to cover are brands that; use the colour personality that I am considering, is aimed specifically at my target audience, is a direct competitor or in the same financial sector, seems to generally share my brand values and mission, is primarily screen based and finally uses a similar tone of voice that I admire. With these in mind, I’ll be able to understand other brand’s statements and how they all in all link back to my banking brand Square.
My banking brand Square, is a digital online bank that is built for a new generation. My motto ‘Banking Made Simple’ captures the heart of my mission financially, which is to create an experience that feels easy, clear and trustworthy. It is designed specifically for 16 to 25 year olds whom rely on factors involving speed, honesty and global access wherever they are. At the core of Square’s identity are its brand values of security, transparency, global access and friendliness. Transparency has been built by me into the user experience from clear communication to managing their finances, Square maintains a friendly and approachable get go, treating its users with respect and open arms as well as making banking feel empowering and easy. Visually, Square is led by a vibrant blue colour that communicates security, professionalism and reliability amongst its audience. This is also supported by a range of secondary colours including green, red and yellow bringing the brand to life with energy, warmth and optimism. The overall aesthetic is clean and confident which is built for screens, reflecting the digital habits of its younger audience. Square’s tone of voice is friendly, clear and open which it speaking directly to its users in a way that is easy to understand but never over the top which is something I have always tried to keep in mind. Whether it is adding a new feature or offering support for saving, Square in my eyes, acts like a trusted friend, being positive and confident whilst adding approachability too.
I felt upon researching that the app and brand Slack, uses a palette of vibrant colours, including a strong blue tone similar to my primary colour of blue, 416FFA, to be exact. Alongside this it also uses secondary tones that feel fresh and energetic which are again similar to my green, yellow and red that I am using as well. Their use of blue communicates trust and professionalism amongst a student audience while the supporting colours add a modern vibe to it. This matches my bank brand Square’s goal of being seen as secure but also friendly and approachable for a audience of 16 to 25 year olds. Slack’s visual identity to me feels very lively without being overwhelming, showing how Square can use its colour scheme to feel dynamic and serious.
I decided that Spotify was the brand that resonates the most with my chosen target audience for my banking brand as they themselves have created a brand that speaks directly to 16 to 25 year olds through its playful yet clean design, personalisation and tone of voice. Their mobile first experience is quite simple yet intuitive offering a lot of freedom towards its users, which is something that relates highly with the qualities that my banking brand, Square, offers as well to the users. Spotify’s ability to make complex systems such as their playlists, algorithms and music libraries feel effortless and personal which again is something I can learn from when it putting Square together and designing the banking experience so that it doesn’t feel intimidating as well as confusing towards the user.
PayPal was a brand that I felt was a direct competitor to my banking brand Square within the same banking level industry. They are capable of operating globally and their approach to simplifying online transactions is that directly relevant to of what Square offers to its users too. Their clean layouts, strong use of blue tones and a clear call to action shows users that they are reliable, safe and can trust the platform. PayPal’s marketing also highlights how banking brands can blend clarity with friendliness, a balance that I feel I will want to strike with my banking brand Square, especially towards my target market audience of 16 to 25 year olds.
When thinking of other similar brands that shared similar brand values with my banking brand Square, I thought that Apple did this best due to their core values being based around transparency, empowerment and simplicity which all closely align Square’s brand values. Apple’s own website, app design and communications are all capable of reflecting these values by being rather minimalistic but powerful, clean and never boring to the user too. Their way of making users feel in control and secure is also heavily inspired by how my brand Square presents its financial tools in an easy to use understand way whilst also not being overwhelming or complicated to use.
Netflix proposed itself as being the most relative branding option when it came to being primarily screen based in comparison to my banking brand Square. Netflix is a screen first, digital brand which is designed for every mobile, tablet and TV screen available. Their interface is simple to navigate, engaging visually and speaks immediately to young people including 16 to 25 year olds like myself. For my brand Square, which will live mostly online and within a mobile app, Netflix is a perfect example for me on how to build a strong, effective and frictionless digital experience that feels both natural and intuitive to its users.
