For our first project we were asked to create a brand for an online banking service therefore we had to create an app , we were also asked to create a landing page and brand guidelines.
This online bank is aimed at young people aged 16- 25, this is something we must be aware of throughout.
It is important to understand what a brand actually is before starting to come up with my own brand. I believe that a brand is a representation or identity of the company, it tells users what to expect of the app and their morals and ethics. The brand is also the relationship between the customer and company, it is the customers first impression.
During class we were asked to get some research surrounding banks and branding. For our research as a group, we started looking at reviews from current leading banks, the reviews showed which banks were mostly 5 star compared to others who were mostly rated just 1 star. This research gave me an idea of which banks to look at for inspiration to use on my bank and what banks to look at therefore I can learn from their “mistakes”. Below are some reviews from successful chains of bank brands.
Traditional banks are banks that have a physical presence, to access your bank account you must visit your banks branch in a physical location. In a traditional bank you have access to features such as loans, withdrawal and payment facilities, branches at different locations and areas, and most importantly a physical presence. ATMs are associated with traditional banks, you can deposit and withdraw cash physically using an ATM, you can only use certain ATMs in you are with certain banks.
Advantage
Quick help and answers- financial advice
Ensures money is safer, less chance of security threats stored in a safe environment
ATMs easily withdraw money
Features- interest rates, loans strict regulations
Socialisation customer experience-trust and better communication
Local access
Disadvantage
Not 24/7 less accessibility
Slow service speed- long waiting times, ques
Takes longer to set up- paper application