.brands Spotlight: Banking and Finance industries

The .brands Spotlight series takes a deep-dive into interesting facets of the .brands space, looking at Stats Hub data to find insights about how .brands are being used across different industries, regions and organizations. This Spotlight piece focuses in on the global banking and finance industries.

Summary

The banking and financial services sector comprises almost one fifth of the global economy, with total assets of $163,000 billion USD. As one of the most globalized and information technology-reliant sectors, it is no surprise that the banking and financial services sector is one of the most heavily represented in the .brand space.

Key statistics

Total TLDs delegated: 59

From companies including:

BARCLAYS        BRADESCO       HSBC       NAB       JPMORGAN CHASE

Total domains registered

Average domains per .brand

  • Industry percentage of all .brands 10.3%
  • Proportion of active TLDs (more than 2 domains registered) 11%
  • Proportion of active domains (resolving or redirecting) 56%

Key use cases

Industry spotlight: How Barclays brings simplicity in a cluttered online world

Of the banks and financial services companies using .brand TLDs, Britain’s Barclays Bank is the leader in terms of domain registrations. With 123 registered .barclays and .barclaycard domains, 32 are currently actively resolving or redirecting.

Barclays has long been a leading innovator in the British financial sector. It was the first high street bank to introduce ATMs (1967) and was the first to offer a debit card (1987).

In May 2015, Barclays became one of the first major brands worldwide to migrate from a global “brand.com” to a .brand TLD.

Troels Oerting, Barclays Group Chief Information Security Officer, said at the time, “The launch of the .barclays and .barclaycard domain names creates a simplified online user experience, making it crystal clear to our customers that they are engaging with a genuine Barclays site.’’

Servicing so many disparate sectors around the world, Barclays makes extensive use of multiple domains and pages to maintain contact focus on individual markets.

Given the size and scope of the banking and financial services sector along with the heavy competition in this market, .brands are a chance for companies to differentiate themselves and improve customer experience by getting people where they need to be, quickly and easily.

Barclays, for example, targets the SME, start-up and self-employed sectors with a range of dedicated sites such as www.entrepreneurs.barclays and www.readytowork.barclays.

South American bank leading the way in innovation

Brazil’s Banco Bradesco maintains the most active .brand in the finance sector, with 106 out of a total of 116 registered domains resolving or redirecting. Bradesco is Brazil’s second-largest private bank, and is internationally recognized as a technology innovator.

It was the first to introduce internet banking in Brazil, and today uses biometric palm print identification for its network of 35,000 ATMs.

Banco Bradesco’s position as the cutting-edge bank introducing new technology in South America has led it to the .brand path, using its .bradesco TLD as its primary address at banco.bradesco, with several sites set up using these domains for specific, additional functions of the business. These include sites such as www.financiamentos.bradesco, www.funacao.bradesco and www.universitario.bradesco.

These .brand sites allow the bank to provide specialized services for customers, including one-stop shops for purchasing and finance options.

Challenges in the banking and finance sector

Traditional players in the banking and finance sector may be able to trace their founding back for centuries, but rapid technological change in recent years means that long-dominant institutions find themselves increasingly exposed to new competitive forces.

Developments in technology and regulatory reforms are reducing entry barriers. Similarly, social change means younger generations have new demands and expectations that traditional institutions possess little competitive advantage in delivering.

The rise of fintechs, neobanks and challenger banks — and an international move towards open banking — has given rise to potential challenges for established players.

Conclusion

Totalling more than 10 percent of all domain registrations, the banking and finance sector is strongly represented in the .brand space. Top adopters include five of the world’s ten largest banks: Industrial & Commercial Bank of China, JPMorgan Chase, HSBC, BNP Paribas, and Bank of America.

Using .brand sites allows these early adopter companies to separate their functions and deliver customers to dedicated websites addressing their specific needs, essential in a busy world where banking needs are more diverse than ever before.

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About MakeWay.World


The digital landscape has changed, and disruption is no longer just for startups. In today’s increasingly cluttered market, some of the world’s biggest organizations are turning the tables on digital and taking back control of their brand. A .brand Top-Level Domain creates new pathways to forge stronger connections with your customers. With your company or brand name to the right of the dot, you gain an unprecedented level of control, flexibility, and security for your digital presence – in addition to endless new possibilities for creativity and innovation. Make way for branding that cuts through the clutter. Make way for better customer experiences and real, meaningful connections. Make way for a new evolution in digital. Make way world, for the digital superbrand. MakeWay.World is the online hub for news, resources, tips and inspiration on .brands. Whichever direction your .brand takes you, MakeWay.World provides the insight and guidance to get you there.

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