Reasons for Creating a New Brand for Bank of America

The Rise of Fintech Startups

By the mid-2010s, fintech startups with highly customer-centric brand communications began to play a significant role in Western and global markets. Major banks faced the need to evolve in response to this competition. The redefinition and implementation of new brand strategies affected their communications, leading many traditional leaders to undertake rebranding efforts.

Results of the Rebranding of America’s Largest Retail Bank

The 2018 rebranding of Bank of America was launched under a new company slogan: “What would you like the power to do?” This rebranding process, which took about a year, involved adopting new practices that improved customer satisfaction from 2017 and positively impacted the bank's valuation.

The rebranding extended beyond design changes to include a transformation of the brand architecture, making it more cohesive, and a revamp of its communications, which highlighted the bank’s commitment to focusing on its customers. These changes aligned with the introduction of new personalized digital services.

The New Corporate Identity of Bank of America

The Bank of America logo serves as the centerpiece of its corporate identity and is key to the brand's image. The logo features the company name in black lettering on a blue background, underlined by a horizontal red stripe.

Brand Values of Bank of America

The essence of the brand is summarized as follows: We help our customers achieve what’s possible by providing experts who listen and care, offering powerful personal technologies, integrated solutions, and a shared vision of success. Our employees are the foundation of Bank of America and play a key role in enabling responsible growth.

The brand's values are expressed through four slogans, designed to resonate with external audiences while also serving as a platform for the company's HR branding:

• Act Together.
• Do the Right Thing.
• Realize the Power of Our People.
• Trust the Team

Electric Brand Consultants

Electric Brand Consultants is a top-tier branding agency with expertise in more than 20 industries and numerous international design awards. Contact our specialists to discuss your project and learn more about the cost of rebranding.