The Swedish banking market is overcrowded and dominated by legacy players making the barriers to entering high – especially as a Russian bank. Hence, Kurppa Hosk started off the assignment with extensive market and consumer research to find an opportunity in this tough market.

The new brand had to be disruptive and differ from the incumbents. A brand was created based on friendliness, cleverness and with a more contemporary feel. Based on Bank Poidem’s business model Kurppa Hosk developed a digital pilot service where users automatically saved a percentage of their money every time they spent it. This would likely appeal to the spending-prone and tech-savvy Swedes.

The result was a new brand and concept with the potential of changing people’s attitude towards savings. During the initial concept testings, Penglot gained a lot of recognition and appeal among Swedish customers.