We don't think like a bank
We think like you
Building a new kind of bank
Instabank has a clear vision to deliver the best user experience in the market and to simplify banking services. Their aim to help customers achieve both large and small ambitions is seen in their promise to the market: ”Vi tenker ikke som en bank, vi tenker som deg” (we don’t think like a bank, we think like you).
Creating a bank
Building a bank from the ground up is no easy task, especially in a saturated market during a time when a new phenomenon we now commonly define as “Fintech” was an up-and-coming concept.
The founders of Instabank had a clear challenge for The Brand Project: helping them create a solid foundation for a new, innovative and disruptive consumer bank that embraces change and sets the standard for simplicity, innovation, and customer-driven products and solutions.
Exploring the landscape
Customers have a general distrust of financial providers. Insight shows this distrust is paired with bad customer journeys, complex products, and relatively weak levels of customer service. The idea of simplicity seemed lost in an industry that was based on legacy systems and a relatively old model of customer contact and customer service in general.
The public landscape is one of regulation and boundaries. It aimed at controlling niche players, reducing the power of the larger banks, and allowing technology and transparency to create platforms for better decision-making and de-risking the industry and its consumers.
Focus on experience & position
Together with the founders, we created a holistic core strategy for the bank and defined an aspired position of becoming a customer-focused Fintech player in a highly competitive market. The name Instabank was established and the identity rolled out.
Innovation practices, strategic partnerships, and a core growth & competence strategy enabled the startup to become the fastest-growing new bank in the country.
Today, three years later, Instabank is an established provider of financial services in Norway and Finland, and will soon open its services in Sweden, Germany, and the rest of Europe. In 2020 Instabank was - for the first time - bigger abroad than at home.
The Brand Project continues to work with the management team on strategic projects within business development, product development, prototyping, and brand-led transformations to pivot, enhance and develop this company into leading the way to next-generation consumer banking.