Idealex’s mission is to provide secure and simple cryptocurrency investment options to their customers all over the world by enabling them to send and receive funds in crypto and Fiat currencies. Their goal was to enter the banking market as a challenger banking app to Revolut and Monzo.
- Lead time:
- 12 weeks
- Sector:
- Finance & Banking
- Target Type:
- B2C
- Services:
- Brand Strategy & Brand Identity
The challenge
Idealex challenged us to create a brand that would enable them to launch their product into the market and connect with their target customers. Having already developed and named their product, they were seeking an experienced brand agency to develop their brand strategy and brand identity.
Brand purpose
Our first step was to define the ‘why’ behind Idealex. This would form the backbone of the brand and ensure that the targeting was right to successfully break into the market.
We led a series of workshops with stakeholders at Idealex. In these sessions, we combined their extensive market research with internal insights to develop customer personas and identify the key factors that are important to their audience. Our goal was to measure the gap between how their customers currently bank vs how they would like to bank in the future.
Idealex’s target audience is predominantly based in Eastern Europe and the Middle East. In these regions, they have the legal freedom to trade cryptocurrencies, however the market is unregulated and lacks a financial services authority. As a result, cryptocurrencies are typically volatile and trust is low. Although people can invest in crypto, they lack the ability and security to invest.
We therefore developed Idealex’s brand strategy and purpose around the theme of financial freedom.
Brand values
Once the brand purpose had been agreed, it was important to establish aligned brand values. We worked closely with Idealex’s stakeholders to produce 3 brand values: accessibility, security and choice.
We onboarded the broader business with the direction for the brand, gaining buy in and ensuring that the full team was unified in the meaning of the values and why they were necessary.
Logo
Focusing on the theme of freedom, we designed the new logo in an X shape which relates to the X in Idealex. The form of X was also used within the Civil Rights movement in the United States and is widely recognised as a symbol of freedom.
The X shape was developed into a logo, producing a modern look and feel in line with the cutting edge crypto industry. The final logo shape was a good fit for the end customer and for potential investors.
Colourways
We selected a colour palette that is appropriate for both a financial provider and for a technical product. It needed to be bold enough to stand out in the market while remaining approachable and trustworthy.
Brand design style
We combined multiple brand elements including photography, shape and form, colours and typography to represent Idealex’s visual assets. This produced a unique look and feel that is recognisably Idealex’s.
