Join us Sept. 14-16 in Miami to connect with top publishing leaders
Financial organizations have been dealing with a technology-driven shift in culture from the inside out. One way they’re dealing: New sub-brands.
Marcus by Goldman Sachs, for example, touts itself as the startup inside Goldman Sachs that built an entirely digital personal loan product for consumers — a new set of customers for the 148-year-old company. Two weeks ago JPMorgan Chase introduced Finn, an app for people who would rather skip the branches for completely mobile checking and savings accounts with personal finance tools. Last week, Wells Fargo announced a similar offering called Greenhouse, a standalone mobile banking app with digital-only accounts and personal finance features.
One big reason for the shift is a focus on customer centricity. As financial brands strive to connect with customers in more specialized ways — because offerings have a more off-brand indication or target specific audiences — they’ve been looking for ways to stand for something different from the master brand. It doesn’t hurt, especially, when the parent brand is mired in other issues.
More in Marketing
OpenAI’s ads business hits Europe at the six month mark
OpenAI will begin serving ads to people using ChatGPT across 31 European markets beginning August 24.
Divine, Vine’s spiritual successor, won’t rule out ads
The app has a strict ‘no AI content’ rule, and company isn’t ruling out advertising.
OpenAI builds offerings on consent as it expands ChatGPT ads to Europe
The company’s new EU privacy policy goes live “later this month”.