Konfío arrived on the Mexican fintech scene in 2013 with a mission: to provide small and medium-sized enterprises (SMEs) with a human-centered alternative to traditional banking’s aggressive fees, bureaucracy and lack of transparency. By rewriting the playbook on business banking, Konfío soon acquired a loyal following, becoming one of Mexico's fastest-growing financial services startups and only the fourth unicorn in Mexico.
However, with the rise to success came with a challenge. Previously disruptors in the industry, Konfío’s new scale meant they were at risk of becoming perceived as mainstream, and therefore part of the traditional banking problem. To solve their identity challenge, Konfío partnered with frog who got to work creating a brand identity that would reassure their customers that, despite their rapid growth, their values remained the same.
Together they developed an identity design and strategy that showcased Konfío’s ongoing commitment to approachability while introducing their status as a large and reliable financial institution. After collaborating with frog, Konfío launched rebranded offerings that streamlined all its tools and products into a unified experience. The rebrand gained international recognition, including a recent award by Fast Company, and firmly positioned Konfío as a trusted leader of the fintech sector in Mexico.
Working with frog has been a very positive experience. With exponential growth and a product offering in constant expansion, Konfío now has the opportunity to strengthen its new value proposition with a brand that approaches its users through emotions and empathy.
During its incredible growth period, Konfío had acquired companies with tangential services—but a result was disparate visuals, disconnected offerings and overly-technical messaging. The challenge was to find a way to untangle the communication chaos to convey the true sense of Konfío as a holistic financial ecosystem with interconnected services.
To understand strategic priorities, root challenges, strengths, weaknesses and opportunity areas to be explored, frog conducted a design research phrase, interviewing executives, employees and SMEs. From there, the team began developing a new brand persona and platform, crafting value propositions and designing a monolithic brand architecture.
Approachability at the core
The rebrand cuts through complexity to bring Konfío’s raison d'être to the fore: approachability. By celebrating the growth stories of its clients, the new strategy positions Konfío as a companion who can speak as an empowering equal to its audience. Voice, colors and shapes convey a sense of interrelatedness, derived from the shared entrepreneurial journey between Konfío and SMEs.
“How do you make something that’s worth $1.3 billion look like something that you can approach easily, that you can use in your everyday business, and that you can trust?” This was the central question frog Mexico’s VP of Design and General Manager, Luis “Lulo” López wanted to resolve.
While Konfío’s passion and expertise lay in delivering value to small and medium enterprises, Konfío itself had gained unicorn status. It was clear that the new brand identity would need to perform a balancing act between celebrating their new size and honoring their origins as champions for entrepreneurs and startups. The rebrand needed to “fit” their new scale while communicate to their SME target clients that despite their larger size, the support they offered—simplifying complex processes, such as invoice generation and payroll receipting—was as human-centered as ever.
The answer was not to speak “from top down,” says Lopez, but to speak “as a peer.” The strategy was centered around celebrating the businesses of all shapes and sizes who have benefited from partnering with Konfío. The website and app redesign and accompanying outdoor advertising campaign included designated spaces to spotlight their clients and their businesses. frog developed a visual identity that’s playful and above all, human: informal, tactile squiggles connect real people in their day-to-day lives, layered above a backdrop of expressive purple hues. In López’s words: “Money is not the star. It’s the entrepreneur, it’s the small business.”
With a valuation exceeding $1 billion, Konfío became the fourth “unicorn company” in Mexico shortly after frog’s engagement. Following their “glow up” the brand was ready to go to market and show its true colors in new ways, through new channels. Since its relaunch, Konfío acquired two companies that live under their new rebrand, one focused on resource management and another on payments.
Konfío’s key results gained wide recognition internationally as well as seeing vast increases in each product’s usage. The most popular product in the new platform—its corporate credit card program—saw a 40% increase in users. Other products saw monthly gains of between 10% and 40%.
Konfío won the Best Design Award in the Latin America category at Fast Company’s 2022 Innovation by Design Awards for the rebranded platform and identity that “establishes an emotional connection with Mexican entrepreneurs.”
The prizes and praise that this rebrand has received is reflective of the intuitive, human-centered design Konfío and frog have achieved.