CLIENT
Bank Saqu
PROJECT
A new digital bank for Indonesia’s go-getters
DISCIPLINE
Brand Positioning, Brand Naming, Corporate Identity, UI & UX, Brand Guidelines
In 2022 Indonesia’s digital banking sector had developed from a slow start to become increasingly active and competitive. The first few digital banking licences had been carved up between established banks with well-known brands and physical networks and tech giants with extensive ecosystems and marketing budgets. So, for the second wave of license-holders the main challenge was to find meaningful differentiation in order to grab a viable foothold in the marketplace.
One of the new license holders was a joint venture between Indonesian conglomerate Astra and Hong-Kong-based financial technology company WeLab, who in September 2022 completed the acquisition of Bank Jasa Jakarta as the basis for launching a new digital bank. Bonsey Design was appointed to develop a brand for the new bank that would achieve the required market cut-through and effectively platform the capabilities of its founding partners.
The new brand needed a name that would provide cut-through and memorability in the marketplace, while also conveying something of note about the brand’s proposition and offer.
One of the brand’s distinctive features would be the use of ‘pockets’ – financial tools to allow customers to better control and customise their financial management and planning.
We took this as inspiration for the name ‘Bank Saqu’, based on the Indonesian word for pocket, ‘saku’. Not only does the name reference one of the bank’s key features, it also conveys an experience that is mobile, flexible and useful. Also, the name phonetically resembles the Indonesian ‘bangsa-ku’, or ‘my nation’ – a reference to the bank’s target audience of industrious and innovative solopreneurs at the heart of Indonesia’s new economy.
We then carried the pocket theme through to the visual identity with the creation of a progressive ‘S’ monogram made up of four pocket shapes. The pocket device was then extended throughout the visual system, becoming a distinctive and recognisable element of the new brand’s product architecture, brand communications and corporate collaterals.
Working closely with the development team, we ensured that the identity was carried effectively through to the bank’s app, which would become the primary touchpoint for its customers.
Despite being a late entrant to the category, the distinctive name and identity coupled with a carefully curated product proposition made Bank Saqu an instant hit with its intended audience. Less than six months after launch of the bank in November 2023 over a million new customers had subscribed to the service.
