- Saffron has been working with FinTech startup Aion Bank for the past months. Aion is a digital-first, start-up bank launched in Belgium in 2020. They are building a fast-growing fintech, delivering a unique banking proposition that would make a difference to the lives of millions of people in Europe. We caught up with Chantal Sagnes, Head of Brand Marketing, to understand how she’s making brand work at Aion.
- What brand challenges have arisen as you attempt to grow your brand in the competitive fintech industry and how do you think branding will help circumvent these in order to achieve your business goals?
- "Our three biggest challenges when building our brand and competing against well-established banks and recognized fintechs have included:
- Building awareness: it's always challenging to encourage consumers to change banks at the best of times, but for a new, unknown digital bank, this challenge becomes even harder. Amongst others, we looked to address this with our branding, utilizing our key colours, yellow and purple, as well as our logo. Furthermore, we developed bold advertising, challenging the status quo to drive reconsideration of what banking should be. As we evolve, we will continue to grow and establish our brand assets, increase media spend to raise brand awareness and consideration and further improve our product offering to provide even more and better value to customers.
- Build understanding: Not only are we a new digital bank, we offer our members a completely new and different way of banking. While this helps to differentiate us, it also requires us to educate potential customers about why we matter. Defining clear brand messaging to alleviate any confusion or misunderstanding is key. Our most recent update was to our tagline - 'All-inclusive, unlimited banking'. We feel it clearly communicates that customers never pay any fees outside of their monthly membership with no limits to their use of our products.
- Build trust: trust is pivotal among consumers when considering a bank. As a new entrant, this is something we have to earn and not something branding alone can fix. Our product is based on transparency. One fixed fee with no hidden fees or extra charges. Staying true to this mission and providing a reliable banking service is key to earning trust. However, branding of course plays into this, so we will continue to build trust with our name as we grow."
- What do you like best about the brand identity work we’ve helped create for Aion Bank? And was it what you originally envisioned?
- "While all attributes within our brand identity play an important role in building the Aion Bank brand, we particularly like our colour scheme of purple and yellow. This combination is striking and differentiates us from our key competitors. We’re now using it throughout our touchpoints to build our brand and our success."
- Thanks for your time, Chantal, best of luck!
Find the full case study here