In 2016, AnaCap a private equity fund from the UK, invested in the Polish financial sector. The fund took over a company, which had run two separate entities under two different names – Bank Smart (dedicated to mobile consumers) and Biz Bank (dedicated to SME). Nest Bank replaced both brands and consolidated the offer.
Nest Bank was competing in a very crowded market. There were over 40 commercial banks in Poland including international big fish and local players. There was no obvious space for a new bank.
The strategy was built around the needs of the individuals devoted to their families. They proved to be a very promising segment in terms of unsatisfied financial needs, social status and the way they perceive banks in general. They were often small entrepreneurs living rather in smaller towns and cherishing traditional values. Most of them had already shown some disappointment with other banks.
We looked for metaphors to describe their mindset and came up with the idea of ‘nesting’. The idea was then expressed in the name of the bank and its visual identity. In order to reflect the personality of the “guardian” archetype we went for blue & brown colors and friendly, trustful tonality. A hand drawn logo became a token of a promise given and human touch behind all banking procedures. The brand idea was condensed in the claim “Spread your wings.”
Following the launch, Nest Bank quickly attracted attention in the market thanks to its highly expressive and emotional image. In just 4 months its aided brand awareness has grown to 41% and the brand has been clearly regarded as credible (51%), dedicated to families (55%), honest (51%) and transparent (55%) becoming a true challenger in the market.