How do you position a new bank to capture the attention of its target audience and differentiate itself? This was the pivotal question for Alpian Bank during the crucial months surrounding its late 2022 launch. Established to address the market gap between private and retail banking, the bank caters to the needs of the burgeoning mass-affluent community with earnings ranging from CHF100,000 to 1 million. Traditional private banks often set barriers too high for this group, while retail banks lack the sophistication and range of services they require.

Alpian bridges this gap by combining the offerings of a retail bank with an investment scheme that is both advisory and discretionary, all at a modest fee of 0.75%. This competitive pricing is achieved through operational efficiency, eschewing physical branches for a mobile-only platform. This approach includes virtual adviser meetings, a concept gaining traction in the banking industry and particularly appealing to the busy mass-affluent market. The goal is cost-effective services tailored to the needs of the target audience.

Awareness
The ongoing challenge for Alpian is increasing awareness of its services and persuading a traditionally conservative customer base to embrace a more advantageous banking option. “Currently, we are the fastest-growing bank in the country. This success is a result of two main factors: firstly, developing a premium brand that resonates with Swiss residents, distinguishing itself from traditional and neobanks, while clearly communicating our value proposition, mission, and services. Secondly, establishing our communities through various business partnerships, helping us connect with individuals beyond our usual reach,” says Marion Fogli, Deputy Chief Executive Officer at Alpian.

Branding
Fogli confirms that brand awareness in the country is now substantial, thanks to targeted strategies that showcase the brand’s values to its audience. A blend of conventional and novel advertising methods has been employed. These include billboards in tram stations and airports, TV and radio campaigns, social media, and a financial blog, among others. A notable highlight was an Alpian-branded tram in Geneva, which garnered significant attention.

The brand’s core message is the concept of ‘wealth beyond money’, emphasising that real wealth extends beyond bank account balances, encompassing freedom, purpose, and belonging. The bank actively helps clients realise their financial objectives, enabling them to pursue aspirations that transcend mere financial figures. Supporting this philosophy, the bank offers various features to enhance client finances, complemented by educational resources that both inform and educate financially.

Another key aspect of the brand is its commitment to ‘fairness’, evidenced by the absence of hidden fees - a unique element of Alpian’s investment services: financial advisers are not commission-based. Instead, clients can rate their advisers. This approach, coupled with the virtual meeting setup, aligns with the lifestyle and preferences of the target audience, demonstrating Alpian’s adaptability to client needs.

“We meet our target market where and how they prefer. We do not push our products; we engage with them online at their convenience. We also welcome feedback, showing our commitment to listening and adapting to our clients’ opinions and requirements,” Fogli elaborates.

Communities
The bank’s strategy includes embedding itself within communities frequented by the mass affluent, enhancing visibility and alignment with potential clients. The bank collaborates with various partners to create communities and foster exchange. This includes SmartPurse, a financial literacy platform for women, and partnerships with innovation and quality-driven brands like streetwear retailer Titolo, or the ‘brand’ that Verbier has now become.

“We value these partnerships as they open doors to new audiences, meeting them in their space and making them more receptive to our message. We aim to extend such collaborations where there is a shared vision and audience,” Fogli adds.

Brand ambassadors
Integral to the bank’s marketing strategy is the collaboration with inspiring figures known as ‘Chief Inspiration Officers,’ who mirror and magnify the brand’s ethos, effectively engaging the target communities.

“Each of our ambassadors connects with a distinct segment of our clientele. Belinda Bencic, a renowned Swiss tennis player, exemplifies dedication and excellence. With her impressive track record, including an Olympic Gold Medal and multiple WTA titles, she is a paragon of determination and skill. Her journey resonates particularly with women who admire self-made success and resilience, aligning well with the brand’s pursuit of excellence and empowerment.”

Géraldine Fasnacht, another ambassador, is an epitome of adventure and boundary-pushing. Known as the ‘Bird Woman,’ she is a celebrated Swiss freeride snowboarder and BASE jumper. Her feats, such as the first wingsuit flight from the Matterhorn, reflect a spirit of freedom and audacity. These qualities echo the bank’s commitment to innovation and embracing new challenges, making her an ideal representative.”

“Sébastien Buemi, a Swiss professional racing driver, also aligns with brand ethos. His achievements in Formula One and as a champion in the FIA World Endurance Championship showcase precision, agility, and strategic thinking. These traits mirror the ideal approach to financial services - dynamic, forward-thinking, and always striving for peak performance.”

“We actively engage our ambassadors in various events and initiatives. Their diverse backgrounds and achievements not only reinforce our brand values but also enhance our connection with different client profiles. They represent the multifaceted nature of success, much like our diverse range of financial services tailored to individual needs and aspirations,” says Fogli.

Future plans
With 2022 marking the launch of the brand and 2023 market entry, 2024 is envisioned as a year of ‘consolidation and development’ for brand awareness and reach.

Interested in reading the full report? You can read this edition of the Swiss WealthTech Landscape Report 2024 online here.