Why it matters

Legacy finance brands often struggle to attract younger consumers, but startups in this category do not always provide a necessary sense of certainty. Striking a balance of old and new may, therefore, provide a major opportunity for a blended approach.


  • Established players may want to explore introducing sub-brands that are “endorsed by” the parent company, but also have a relatively high degree of autonomy.
  • Fusing digital technology with the insights based on behavioral economics represents an opportunity for marketers to deliver greatly enhanced utility for customers, and thus build loyalty.
  • An innovative sub-brand might be a useful way for legacy enterprises to test and learn, before then rolling out new features across a wider portfolio of products.

Last year, Wells Fargo introduced a mobile-banking app to help consumers overcome various painpoints on their financial journey.