Repositioning an Islamic Financial Giant
Developing a brand for a thriving financial group in Kuwait
- MBLM audited and analyzed the state of the Boubyan Bank brand through interviews, surveys, visual and strategic analysis.
- We developed a simpler brand model including a new promise, vision, mission, and values — all thought-through inside out.
- We designed a new visual identity and lockup that includes the Arabic and English names, based on a minimalistic approach and a hierarchy of how to partner or communicate.
- The collaboration helped Boubyan Bank strengthen its status as one of the most profitable banks in Kuwait and receive multiple awards from Global Finance.
Kuwait’s economy keeps blooming yearly. The country’s banking sector net profit (by average) had the most significant growth rate in the GCC region, rising by 36.3% for 2022. Boubyan Bank, the most prominent modern Islamic bank turned financial group, is a key player contributing to the local economy.
The multiple-awards-winning bank, whose mission is to ‘fulfill lives and drive prosperity for people,’ offers top-tier financial products and services that empower local entrepreneurs to start their ventures and help people improve their quality of life through affordable financial services– from necessities like schooling to luxuries like planning a vacation.
Since its launch in 2004, the bank has strived to offer personal, private, and business banking, feature-rich credit cards, competitive consumer loans, mortgages, and investments, with second-to-none customer service. Boubyan Bank’s holding company, Boubyan Group, also empowers multiple innovative insurance, investment, and real estate brands in Kuwait and London, England.
However, the rapid expansion of Boubyan Bank faced the challenge of aligning its brand positioning with its constantly-growing business and maintaining a clear and consistent brand messaging across all touchpoints. Their brand positioning was inconsistent, hindering the building of a cohesive brand image. This lack of clarity posed a challenge as they aimed to reinforce their status as the biggest modern Islamic bank in the region and beyond.
Recognizing the importance of aligning the brand with the bank’s transformation and growth, Boubyan Bank partnered with MBLM to craft a powerful brand experience. To address the challenges, MBLM devised a comprehensive strategy that revolved around three main pillars:
Rebranding Model: MBLM did a complete review of Boubyan Bank and its operating components to create a new brand positioning that reflects its modern Islamic banking values better. We designed a new logo and lockup based on a minimalistic approach and a hierarchy on how to partner or communicate while preserving the unique elements that define Boubyan’s identity.
Value Proposition and Brand Messaging: MBLM thoroughly rethought Boubyan Bank’s messaging, previously divided across various components. We simplified and refined the messaging strategy, creating a cohesive and compelling value proposition for the bank’s products and services. The focus was on conveying the bank’s commitment to empowering its customers and enabling opportunities to enhance their quality of life.
Digital Transformation: We designed digital-first communication and design system for various platforms, in many cases leveraging in-motion animation, ensuring a consistent and engaging customer experience across all touchpoints.
The collaboration between Boubyan Bank and MBLM brought about outstanding outcomes. By implementing the rebranding model and refining the brand positioning, MBLM successfully conveyed Boubyan Bank’s true identity as a modern Islamic bank focused on empowering people to achieve their goals and aspirations.
The new brand promise resonated closely with its audience and emphasized Boubyan Bank’s commitment to providing prompt, affordable, and convenient products and services. As a result, Boubyan Bank strengthened its status as one of the most profitable banks in Kuwait. The bank also received multiple awards from Global Finance, including ‘Best Islamic Bank – Kuwait,’ ‘The World’s Best Islamic Retail Bank,’ ‘Best Islamic Digital Bank – Global,’ and more.
MBLM’s work on Boubyan Bank demonstrates how a well-executed rebranding model and a focus on clear and consistent messaging can transform a financial institution into a modern, customer-centric, and award-winning entity.
MBLM maintains a strong partnership with Boubyan Bank to ensure the bank remains a leading and forward-thinking institution in the dynamic financial landscape of Kuwait. The ongoing relationship signifies the commitment of both parties to maintain the bank’s consistent and finest brand experience.
