This will be a short blog that documents how I came up with my brand name, including all the other names I came up with on the way to getting my final outcome. But before I start naming my brand, I need to have a rough idea of my brand purpose and the tone of voice. I originally thought that I needed to decide on a fixed brand purpose, the “big idea” before I start naming my brand ( thus why there is only a 1-way arrow downwards). However now I think it will be a 2-way arrow. From my brand research, I have a few “big ideas” that I would like to develop on. Once I chose my name, I would be able to decide which big idea is the one I want to go for.
Initial brand values/ Big ideas
To start out I had a recap of my brand values;
- Integrity and transparency
- Accountability
- Customer-first
- Embracing personal differences
- Providing opportunities
and after re-reading my values I have a few ideas in mind. I have 3 main brand proposes;
- personal Support & support through a journey
- opportunities & flexibility
- transparency & integrity
Trying out names
The first thing I did was to research existing bank names in order to help me brainstorm ideas. After looking at all the google results, I very soon realised that there were 4 distinct categories of bank names.
The first category was the bank being named after the place it is from. (Names based on origin) Such examples include;
- Bank of England
- Bank of ulster
- Bank of America
- Santander
banks with these names are often national banks and have a long-standing history ( legacy brands)
The second category are names that evoke an emotional response. (Emotive names);
- Nationwide
- Frist trust
- progressive
- Alpha Bank London Limited
the third category are names that are exactly as they said on the label (descriptive names);
- Abbey National Treasury Services plc
- OneSavings Bank Plc
- Tesco Personal Finance Plc
The last category was interesting as they were a blend of abstract and playful names (Abstract names/Playful names)
- Monzo
- Revolt
- Starling bank
- Yolt
- Tandem
most of the more abstract and playful names are all relatively younger brand, and a lot of them is solely online-based. ( want to appeal to younger customers as the name is fun and different from the older legacy brand? gave out a message that they are new, fresh and different ?)
Having had a look through all these categories of banks, I decided that I would try out emotive names, descriptive names and abstract names, as my bank is not based on a place, thus should not have names based on origin.
2 websites that I found useful in generating ideas and brainstorming are “the story shack” and “how to start an LLC”
The story shack generations random names of banks in which might inspire your own;
How to start an LLC.Com is also very usual, you can put in any two words and it will combine them to give you a bank name. It can also give you very good advice on bank names depending on the name categories described earlier in the blog;
To start thinking my own bank’s name, I started to write down any words that would associate with any of my brand purposes;
A few words I liked from this group was;
- Polaris/Northstar ( the guiding start at night)
- pacific ( the sea, the journey through the sea)
- swift ( easy and fast payment ?)
The words I like from this group are;
- Ursa ( meaning mother bear – supportive ? The constellation Ursa Major is the one with the north star which sailor looks for guidance)
- core
- sealed ( the money is safely sealed? )
- Allin ( as in “All In” and unity ?)
- Alliance ( i liked this one but too corporate and cliche ?)
- Arch/Pillar/ pier
- Rhino/Leon ( stong animals)
For opportunities, most of my words were relating back to light and stars, for example
- Lux/Lumini
- dazzle
- Galaxia
- Vega ( star name)
- Sirius ( brightest star)
- regal (Another star name)
I was also thinking about the sea was opportunistic because of how big and vast it was, so I put down the name pacific again.
Another idea I had for this group was about rainbows and the different colour of light it gives off, I see it has a promising and joyful sign. the different colours of light can represent many opportunities ahead, all I have for the moment is the word, Iris, which is the word for rainbow in Latin.
The last ideas I have are just random bits and pieces that I came up with, and it has some connection to opportunities;
- Ace
- yellow bricks
- champion
- new horizon/dawn
From the transparency section, most of the words are not suitable for names as such, but I like writing them down to help me generate more ideas. However, I did like 2 words in particular;
- Lucid ( lucid means expressed clearly, easy to understand. But it can also mean bright and luminous. I liked how it can have 2 layers of being at once. one side is the transparency, another is the bright and opportunistic aspect.)
- Prism ( I really liked this name. as with the word lucid, there is a few layers behind its meaning. one is light and luminous, as prisms reflect light, another thing is transparency, as prisms are usually transparent to reflect the light, the last is the multiple colour light it gives off, symbolising Opportunites.)
This group was for any other random words I thought of while brainstorming, some of my favourites are;
- Azula ( meaning the blue sea or blue, another reference to the sea, journey, opportunities)
- Bolt ( i really liked this one, it sounds very energetic, ready from the get-go)
- solace ( the sun, energy and light)
- Azure ( meaning bright blue)
Finalising the name
After trying out quite a few names and asking around for opinions, I finalised 3 names;
- Pier Pacific
I chose this name as a contender it is the most “professional” one out of all my other names. By professional I mean it sounds like something serious and well established. While coming up with this name I was keep in mind the fact that, as my target audience gets older, they might want something a bit more professional sounding.
The word pier means a supporting structure in a bridge, or also a supporting structure that reaches out into that sea ( i thought it part ties nicely the next word pacific- the sea). So the pier part symbolises support.
The word pacific comes from the Pacific ocean which is the largest ocean in the world. The sea and water represent flexibility and vast opportunity.
The words pier and pacific come together to represent a supportive journey across the sea, a supportive journey across a vast ocean of opportunities.
- Ripple
Ripple was a nice suggestion by my teacher and I really like it. I was talking to him about my appreciation for the vast opportunity and flexibility that the water could represent. I mentioned the proverb ” little drops make a mighty ocean” as a good metaphor for savings, as one pound at a time all adds up. That is when my teacher Daniel suggested ripple as one drop of water makes a ripple effect. I love the meaning behind this word as it suggests that something small could make a huge effect, encouraging the younger target audience which might not have a lot of money to start saving, that someday it will all add up, and that level every individual matters no matter how small or big their saving pots are.
- Prisma
In the end, I settled on the name Prisma. Prisma is actually a play on the word Prism. I originally wanted just to call it prism but thought that the same was too blend and a few of my friends actually miscalled it “prison”. The added, “a” at the end gives it a friendlier touch I think, and make it a better unique to harder to missay. The added bonus is that Prisma actually still meanings prism in multiple other languages, and doesn’t stray too far away from the word prism itself.
The reason why I love the name is that, as stated before, it’s the potential for multilayer meanings.
The body of the prisms is usually transparent, representing that that body of the bank itself strives for transparency.
The single beam of light going in represent the customers, and the beautiful multicolour beam of light that comes out represent the many opportunities.
In amongst all that, the different colours of light could represent something that is personalised, not everyone should have the same plan, so different colours of light send a message that the bank is embracing differences.
The last reason why I like the word is because of how versatile and visual it can be. With prism being a triangle, I’m already thinking of ways I can apply shapes to aspects of my design. Also with it being multicoloured, it’s easier to convey the message of personalised opportunities, joy and optimism that the brand can bring.
When creating my brand, I can have different colours representing the sections of information, the different colour combined sends a message of opportunities while each section having their own colour adds personalisation.
Also, With most traditional banks being red or blue, I think having a colour bank brand can attract younger audiences and break away from the norm.
Finalising the Brand purpose/big idea
Now that I have my name pinned down on Prisma, it is now easier for me to focus on 1 main brand purpose, and I think my brand purpose will be something along the lines of “providing personalised opportunities through transparency”. For now, keeping this idea in mind will help me with my visual design, but I’m also prepared to make adjustments to this idea along the way as i work through my wordmark and logo etc.