To begin creating the identity for my bank I decided to start by compiling a list of different values that banks possess.
I ended up with 23 different values. I then looked at each, reflecting on my research to see which of the values would be most suitable for my bank. I picked out 5 values that I felt represented my bank accurately. These values are.
I chose these values as I think they summarise my intentions well.
Education - I would like to educate the younger population about their finances as they face difficult economic conditions. A better understanding of money should help enable them to combat the issues of economic decline and a poor housing market. This tends to be peoples first misstep when it comes to money and who can blame them, it’s not often that we have the opportunity to learn about finances at our own pace.
Growth - When surveyed people put a clear emphasis on savings, but what good are savings when inflation reached an all time high just over 2 years ago. I hope to allow users to find the best interest rates for their savings and down the line the best investments they can make according to their circumstances to help them curb inflation and equip them up for life.
Secure - Considering that my demographic is very young, it is vital that begin building the foundations for their finances early to create a secure foundation that will back them through life. I also want users to feel secure in their choice to bank and invest with us, offering them varying investment options and ways of banking will help reinforce this idea of security.
Innovation - A bank can be so much more than just a hiding place for your money, I often dread opening my bank account as that is all it has become. I want to approach digital banking differently, creating an experience that excites users about their money and lets their money work for them.
Bold - Partnered with Innovation, being bold will allow my brand to transcend the norms that most banks fall into. It is a great way to gain new users and to display what my bank is all about. ****
To begin developing a name I decided to write down my values and use those to create a name. I found myself focusing on growth as it was something most people surveyed prioritised. With growth came ideas of plants and everything natural. This in turn spiralled into this idea of nurturing the young, which I believe fits the brief really well. Brainstorming young plants, seeds and saplings made me think of the Svalbard Global Seed Vault.
The Seed Vault safeguards duplicates of 1,301,397 seed samples from almost every country globally, with room for millions more. Its purpose is to back up gene bank collections to secure the foundation of our future food supply. It is located 1300km beyond the arctic circle within perma frost. How much more secure does it get? The security of it paired with the fact that inside they are guarding seeds, young plants, feels like the perfect place to derive inspiration from.
I tried translating various different plant adjacent words into Norwegian to see if it came out with anything that felt right. I made note of the best ones but I still wasn’t sure if I should take this path in regards to naming my bank. I also brainstormed words of this nature in English too, in hopes of not getting too carried away.
We were then to present the class with 5 of the names we came up with, and the class would vote on which the found to be the best. I ended up choosing Spire, Bloom, Root, Fern and Gren. Here is how people voted.