Do you want the name of your bank to inspire confidence and attract customers? In the article, we will share working methods of naming financial institutions and show how they work using examples.
The name of the bank should be simple, understandable, unique, and easy to remember. This can be achieved based on the following criteria:
1. Location. It is appropriate to use the name of the city, region, country where you do business, or common local associations. However, this method has two disadvantages:
2. Specialization. Tell people why you are useful: a narrow line of business or specific customer benefits. These can be business loans, attractive mortgage terms, consulting services, etc.
3. Values and goals. To show them, analyze your brand and make a list of words that describe your mission, business goals, values, and customer relationships. These can be words such as “protection”, “savings”, “trust”, “strength”, “support”, and others. The main thing is that they are not just beautiful phrases but correspond to the deep essence of the brand.
4. Family name. This technique is designed to inspire confidence and talk about professionalism. It works in two cases:
After collecting ideas, start generating a name. To speed up and simplify this process, use ZenBusiness online name generator: enter different combinations of keywords and get dozens of original names. Keep going until you find the right fit. Based on it, you can immediately create an online logo and other corporate identity elements.
Don’t know what name idea to choose? Look at how well-known banks have solved this problem.
The name Fifth Third Bank has a story behind it. The institution was formed after the merger of two banks – Third National Bank and Fifth National Bank. Thus the original name, which is easy to remember, pronounce, and write (it is often written as 5/3 Bank) was born.
The name Ally Bank is built on a simple and understandable characteristic, which is designed to inspire trust and endear customers.
The name of one of the largest banks in the world, Barclays, speaks of its rich history. It is named after the family that stood at the origins of the foundation of the bank back in the 18th century.
After you have come up with a beautiful name, try to make customers remember it faster. If it’s a physical bank, use the name on a signboard, staff uniforms, in the interior, on business cards, booklets, and business correspondence. If you have an online bank, do not forget to post the name on the website and social networks. And, of course, in both cases, the name of the bank must be on the cards of your clients.
The name of the bank gives customers the first impression of the institution. Try to make it emphasize reputation, history, and professionalism, promise benefits, or convey values.