Today, we’re launching a new name, logo, and brand.
We liked the name Ourly, otherwise, we wouldn’t have chosen it. However, we’ve evolved and grown so much as a company and we needed a name and a brand that could support our mission and radical vision for combining finance and commerce. We wanted a name that could be recognized anywhere in the world, one that could be pronounced the same in any language, one that speaks to the value we provide our bank and credit union clients and customers.
With that, we bring you Wallit. Banking for the modern family.
Many young people across the globe are pre-banked or un-banked, but not unconnected. The name “Wallit” reflects the idea that a digital society requires the proper tools to effectively manage their finances in the worldwide expansion of the digital economy. We’re reinventing the wallet, so it was only fitting that we reinvent the spelling of the word too.
Wallit is a new kind of consumer finance and commerce company that aims to reinvent how families with teenagers save, send, and spend money and how they buy everyday goods and services. It is a common understanding that customers hire Banks to provide a safe, secure place to save their money, and hire Payment companies (e.g., Visa and Venmo) to spend and send their money. We think of Banking (saving) and Payments (spending) as two sides of the same coin.
Unfortunately, many of the mobile banking apps and digital wallets fall short. Each company requires a different technology stack, a different product, and a different user experience. We all want a better wallet.
What if the user experience for saving and spending were designed together, to be more fun, more collaborative, more rewarding? Now there is with Wallit. And, we’re inviting banks, brands and merchants to participate in the everyday moments of our lives that matter most.
The mark incorporates three interconnected shapes, which symbolize the unification between Wallit, our customers and our clients in the communities we serve.
We are inspired by the simplicity and power of the circle. Circles have neither a beginning nor an end. They move without restriction, representing speed, energy and power. At the same time, circles represent safety and security – protecting what’s inside their boundaries.
Our three circle shapes are intertwined to represent how Wallit provides a better, faster, more streamlined experience for connecting families, banks, brands and merchants.
When the design elements are combined, the shape of the logo forms a unique, stylized form of the letter “W”. Typically, the shape of the letter W has a beginning and an end, but the W in Wallit does not. The shape of our logo is fluid and represents continuity, interconnectedness, and perpetual movement – just as the moments in our everyday lives, and our relationships we seek to have with our family, friends and money.
Altogether, the entirety of the mark are moving up and to the right, signaling growth and our forward-leaning approach to propel financial inclusion, as well as our role in a global movement toward digital money in motion.
Most financial organizations choose green or blue as their brand color. We wanted to own a color and style so that our company and products rise and shine above the many other applications and icons crowding the marketplace. Once we decided to shift away from the traditional green and blue colors to a strong, red-orange, we committed to really owning that color. We chose our custom made “Rayleigh red” for Wallit to portray a youthful, energetic and friendly image. The Wallit colors symbolize the release of energy, idealism, experiences and human potential that come together at Wallit, with young people as the catalyst.
The primary friction we aim to help people overcome is inertia – too many people are simply not saving and need help to get started. People want to save money, to spend money. We chose red as our primary color to rouse people to take action. The color red stimulates a sense of urgency and creates excitement to help overcome inertia.
At the same time, the biggest challenge for banks right now is to stay engaged with their customers, while brands and merchants are eagerly battling for consumer attention. Plus, studies show that shoppers respond best to the color Red-Orange. Wallit bridges all of these needs.
We worked closely with the team from the Maine-based branding agency, Anchour, to create this new name and visual identity. Over the next few months, you’ll start to see it all on our website, apps, marketing, and more.
We’re excited about our future and the future of finance and commerce, and we hope you are too.
The team at Wallit
Investing in Financial Literacy and the Future of the American Family