FORMATION OF BANKING BRAND MODEL BASED ON AN ADAPTED BRAND WHEEL

Abstract

The article presents a comprehensive study of the theoretical foundations and practical approaches to the formation of a banking brand in the context of digital transformation of the economy. The main focus is on modernizing the concept of the “Brand Wheel” as a universal brand management tool, taking into account the specifics of the financial sector, new consumer behavioral patterns, the growing role of digital communication channels, cyber risks, social responsibility requirements, and regulatory pressure. The article provides a thorough analysis of current approaches to branding in the banking sector. Based on a systematic analysis of modern approaches to branding, the key emphases, advantages and challenges of each of them are highlighted. It is established that successful positioning of a banking brand requires a harmonious combination of technological innovations, emotional involvement of customers and social responsibility. The article explores the global experience of adapting the brand wheel to digital ecosystems and analyzes the evolution of this model in the banking industry. Particular attention is paid to the evolution of the Brand Wheel model - from its initial application in the field of consumer goods to its actualization in the financial sector. Based on a comparative analysis, the strengths and weaknesses of modern branding strategies in banks are identified, which allowed to formulate the conceptual foundations of the proposed model. The study also identifies the key attributes of a bank brand, including individuality, reliability, service culture and social responsibility, which confirms the need to build a multidimensional brand system focused on sustainable development and long-term trust. The study systematizes the main approaches to building a banking brand in the digital era, identifies the key components and challenges that accompany this process. The proposed Adapted Banking Brand Wheel (ABW) combines traditional elements, such as reliability and trust, with modern requirements, such as personalization, cybersecurity, and innovation. The ACBB integrates six key elements: brand core, attributes, functional benefits, emotional benefits, brand personality and brand values.