Traditional banks are at an inflection point, with competition from disruptive companies, trust issues, and low differentiation. Gabriela Rijo of Landor, which focuses on finance and utilities, says there is a silver lining in the Mediterranean.
The financial sector loves a good debate: profit and purpose, technology and real human relationships. But what if the true disruptors lie in integrating these perspectives? And in a world that aspires to authenticity, powerful brands find a way to bridge the gap between immediate impact and sustainable growth. Can we build a bridge?
This is no marketing pipe dream. That is the reality facing financial institutions. A new generation of digitally savvy, purpose-driven, empty-promise consumers are looking for more than just products and services. They want a brand they can trust. A brand that inspires trust and aligns with your values.
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This is becoming increasingly important as new generations and technologies require different approaches to remain relevant. Generational change, digital disruption and personalization as a fundamental requirement. All the ingredients for a perfect storm that requires a fundamental change in the way financial institutions connect with their audiences.
Legacy banks, on the other hand, face additional challenges of differentiation and poor valuation. Reinvention is key to competing with agile fintechs.
But here’s where it gets interesting. Some banks, particularly in southern Europe, are quietly leading this reinvention, navigating economic instability and regulatory changes. They prove that brand building is not inconsistent with financial success. That’s the damn basics.
transformation story
How can a southern European bank challenge these outdated paradigms and emerge as a leader in a new era of financial branding? It’s not just the sunny Mediterranean vibe. These agencies are imbued with a culture that prioritizes relationships, trust, and a deep understanding of customer needs.
They realize that branding is not a luxury. It is an essential element for both immediate success and sustainable growth. This inherent customer centricity combined with brand knowledge gives you a significant advantage in today’s rapidly evolving financial environment.
Iconic Spanish banking giant BBVA has reimagined its global image, focusing less on consistency and aesthetics and more on making bold promises to customers. By optimizing its brand architecture and stepping up to its new tagline of “Creating Opportunities,” the bank demonstrated its commitment to empowering customers and guiding them through the complexities of modern finance. This customer-centric strategy, supported by data-driven insights, has resulted in impressive results, including increased mobile adoption and industry recognition for an exceptional digital banking experience.
It’s not just the sunlight
BBVA is not the only example. Under the leadership of Ana Botín, Spanish financial powerhouse Santander has carefully cultivated a reputation for reliability, customer focus and strategic brand building, based on the principles of “Simple, Personal, Fair”.
This tagline is more than just a marketing campaign. This initiative represented a fundamental shift in the bank’s operations, impacting everything from digital transformation and product development to customer engagement. By integrating these values into every aspect of our operations, Santander has demonstrated a true dedication to fostering trust and transparency with our customers, strengthening our position as a leader in the financial industry. .
And despite being smaller than Santander and BBVA, Bankinter consistently achieves superior profitability and customer satisfaction. We have succeeded in establishing strong brand recognition and positioning ourselves as a modern alternative to traditional banks without compromising our credibility. With an agile strategy focused on innovation and customer experience, it has become a model for how to succeed in competitive financial markets, even when competing against much larger companies.
Brand cannot be an afterthought
Brands account for more than 30% of the S&P 500’s company value. Companies with the strongest brands grow 78% faster than the average company on the list. Rather than treating your brand as another marketing tool, it’s time to recognize it as a key driver of business growth.
For smarter analysis of banks (and emerging competitors), check out The Drum’s focus on finance and utilities.
