for the Digiday Programmatic Marketing Summit, May 6-8 in Palm Springs.
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
How did Nike’s embattled heritage brand Converse reach a 15-year revenue low?
The last few years have seen Converse continue to underperform compared to the rest of Nike’s portfolio.
Why Pfizer and other blue-chip brands are building internal AI search hubs to reclaim control
As AI upends traditional rankings, big spenders like Pfizer and other blue-chip brands are building internal task forces.
OpenAI has quietly launched its ads manager as it races to build out its ads business
The AI platform quietly launched its ads manager within its ChatGPT ads pilot advertisers last week, and also lowered the barrier to joining the test.