For as disruptive as financial technology companies have been in the banking industry, it seems they’re not immune to the mounting pressure to stand out in an increasingly crowded marketplace.
Fintech brands PayPal, Klarna and Chime have all spent the last few months ramping up their brand awareness efforts, enlisting high-profile celebrities and launching brand campaigns to differentiate themselves from their competitors. As more banking challengers enter the arena, these brands are leveraging big names and more brand building-focused strategies to capture a bigger share of the market, and, ultimately, get shoppers to use their pay features rather than those of their competitors.
“The marketplace is cluttered with options,” said Tom Murphy, chief creative office for VML North America. “It helps to have a very defined personality, and I think celebrities are a shortcut to do that and to stand out.”
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The original post is at Marketing Archives – Digiday
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