07 Oct Financial Logos and Changing Times
It is an unfortunate fact that the last five years have seen the financial industry targeted (and rightfully so, in some cases) by the general public and used as a scapegoat and pariah for the current economic conditions. Simply stated, many individuals simply do not trust the industry as they once did. The “rock solid” guarantees of some of the largest banks in the world were nothing more than paper thin and even financial advisers had a difficult time predicting what would happen next. So, what does this do to the traditional approaches taken to branding and corporate logos in the industry?
Out with the Old
The first thing that must be understood is that we have seen a massive paradigm shift as to the way in which many financial entities are viewed by the public. Frankly, very few in the world trust banks, lenders and even advisers these days. From a purely psychological point of view, this is quite understandable. Therefore, many financial entities choose to create logos that attempt to reconfirm trust in their business and what they do. This is frequently accomplished by a bold typeface, straightforward mission statements and simple designs. All of these attributes will help lend an air of transparency and openness to the business.
Trying Too Hard
One of the worst mistakes that a company can make in a logo design is to try to overtly convince their audience that they are “better” than the rest. No one likes to be “sold” a product and it has been all too often that such an approach has been taken; usually with rather disastrous results. The words “Trust Us” above a bank logo are sure to bring a certain number of irate individuals just in the very same way that “Transparent Practices” may indeed signal anything but.
Strength Through Design
As opposed to utilising sales tactics, a logo should instead reflect solidarity of character, not of words. There should be little fanfare or hype. Any mission statements ought to be saved for a landing page on a website or a letterhead as opposed to the logo itself. This will help enhance the ability for the logo not only to grab a client’s attention but for it to be memorable in an industry where competition is more intense than ever before.
So, simplicity and openness are the two most vaunted aspects that must be followed when designing any financial logo. Adopting such practices will allow a company to stand out from others that still may believe that pandering is the best way to attract an increasingly fickle and doubtful client base. Simply stated, a logo should not represent a sales pitch but rather a form and design that espouses the transparency that the public demands in these modern times.