Visual identity for BoligBanken: How we developed a profile for the newly established banking competitor
After Boligbanken received a concession to run a banking business from the Financial Supervisory Authority, they got in touch with Graphiq to establish a logo and visual identity for an innovative company aiming to challenge the banks dominating the market today.
- BoligBanken is a newly established banking business who got a concession from the Financial Supervisory Authority in 2019.
- The company is an initiative by the three companies BORI, NBBO and ABBL, who manage more than 1400 housing companies in Akershus, Buskerud and Østfold.
- BoligBanken challenges traditional banks and offers financing and capital management for housing cooperatives and condos.
BoligBanken was established as a specialised banking business intending to reduce the capital costs for housing cooperatives and condos. The newly established company is entering a market that involves more than half a million homes. Today, OBOS-banken is the only specialised bank within housing cooperative financing. OBOS-banken holds 42% of market share, and BoligBanken intend on challenging the big banks in the remaining market.
With a clear idea of the company's vision, the challenge was developing a visual identity that reflected this. COO Edel-Helene Thingstad tells me that BoligBanken got in contact with a range of agencies before they landed on a collaboration with Graphiq. “I felt that Graphiq had a business model that was easier to work with and that they really understood our demand and was able to meet these needs in a cost-effective way”, she says.
The design process
Based on BoligBanken’s needs, they were connected with designer and illustrator Thomas, who has extensive experience with developing logos and visual identities. An introductory meeting about BoligBanken’s function and vision became the foundation for the design process. Edel-Helene tells us that Thomas did thorough research and really understood their needs. Thomas himself, describes the briefing and preliminary work is the most important part of the design process.
“For me, it’s important to get insight into the client and competitors, as well as an impression of the client’s visual preferences. The delivery should be strategically anchored, and at the same time be aesthetically appealing.” - Designer Thomas
In Thomas’ experience, thorough preparation results in less iterations before the client is happy with the product. He started sketching with fonts, colours and formations, and presented three different logo suggestions for BoligBanken. They chose to move forward with one of them, to which Thomas developed three different versions based on feedback from the client, before the end result was ready.
Edel-Helene speaks highly of the collaboration with Thomas and tells us that they had a good dialogue throughout the entire process. “I felt like he was very open to feedback and went a long way to deliver what we wanted. We got exactly what we were looking for”, she says. Thomas, on his side, describes BoligBanken as an innovative client who really trusted his judgement as a designer. They both perceive the collaboration as especially pleasant and successful.
The final logo is a modern representation of who BoligBanken is, in which the three rooftops symbolise the three companies who initiated the business, whilst it also refers to the housing market that they operate in. The choice of colour, font and design reflects the company’s values of innovation, professionalism and safety. In addition to the logo, the delivery includes brand guidelines.
The guidelines have made it simple to communicate internally and to developers of digital platforms, Edel-Helene says. Thomas believes it is important to deliver guidelines to enable the client to use the logo correctly without depending on him as a designer. Edel-Helene tells us that BoligBanken are incredibly pleased with the result and that they have received great feedback from important stakeholders. We would like to wish BoligBanken good luck moving forward, and we’re looking forward to new, exciting projects to come.
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