The rebrand of the Coral Gables, Florida, bank comes on the heels of separating from its parent company, Mercantil Servicios Financieros in Venezuela, in August. The new brand — with the tagline “meant for you” — represents the bank’s strategy to connect more deeply with customers.
“We are fully focused on the needs of today’s customers and wanted our brand to be a powerful word that is easy to pronounce and remember,” said CEO Millar Wilson in a press release first announcing the rebrand. “Our new name reflects our heritage and experience, while strengthening our commitment to serving our markets and our valued domestic and international customers with an innovative and comprehensive range of financial services.”
What the rebrand mean for customers
The institution has been transitioning into its new identity for about six months — a process that’s included updating the brand name on communications, products, signs and services, and of course, preparing customers for the change.
“It is a huge endeavor,” says Roberto Isasi, executive vice president of marketing at Amerant Bank.
While rebranding takes a lot of work on the bank’s end, the ripple effects on current customers required no adjustments in the way they bank. For example, customers did not have to replace their ATM, debit and credit cards and checks as a result of the rebrand. If you visit the old bank website, the bank will automatically redirect you to the new one.
On a larger scale, expect the rebrand to reflect changes in the way the bank approaches customers’ needs and wishes to deliver on the brand’s promise. For example, Amerant is asking and listening to what customers who have been in contact with the bank and then using the input to make changes. Secondly, Isasi says the bank is investing “significant resources” in building capabilities designed to better understand customers, including anticipating their needs.
“A big change in our strategy is to bring the customer to the center of all of our efforts and all our decisions,” Isasi says. “That’s part of the brand promise.”
The brick-and-mortar bank offers deposit products at its 23 branches in South Florida and in Texas. Nationwide, it offers CDs with competitive annual percent yields online. At 3.2 percent APY, Amerant Bank’s five-year CD is one of the highest yields available, for example.