Our thinking on business and brand, and what makes them grow
POSB & DBS in a tale of two purposes
From their credit card offerings, we can see how POSB and DBS serve different brand purposes. Image: Adobe Stock
They share ATMs and branches, yet DBS and POSB succeed as two distinct brands. Their secret is a masterclass in a powerful strategic tool: Brand Purpose.
By Sue Ann Ho, Founder
The contrast between these two financial giants is a deliberate act of brand management.
Heartland vs. High Flyer: Brand purpose grounded in history
POSB has been Singapore’s “People’s Bank” since 1877, a name that perfectly encapsulates its purpose. Its brand is built on a legacy of trust and accessibility. Think about its iconic school savings programs, the simple, no-frills passbook, and the familiar logo that feels like a part of the heartlands. POSB’s purpose is to be the bedrock of simple, straightforward banking for every Singaporean, from a child opening their first savings account to a retiree managing their pension.
DBS, on the other hand, was founded a century later, in 1968, as the “Development Bank of Singapore.” Its purpose was to finance Singapore’s industrialization and economic growth. While it has since absorbed POSB, DBS has maintained a distinct identity as a modern, high-tech, and globally-minded bank. Its brand is associated with innovation, wealth management, and a comprehensive suite of digital services. DBS serves high-net-worth individuals, large corporations, and regional businesses, positioning itself as a leader in Asia’s financial landscape.
Their success today comes from a deliberate strategy of honoring these distinct origins.
A pattern you see in other brand giants
This isn’t unique to banking. Great brands understand that a clear purpose is the foundation for every decision.
Look at the BreadTalk Group, which operates both the BreadTalk bakery and the Toast Box coffee chain. While both offer cafe-style food, their brand purposes are worlds apart: BreadTalk’s purpose is to be an innovative, modern bakery that constantly introduces new concepts, while Toast Box’s purpose is to evoke nostalgia and preserve the traditional Singaporean breakfast experience.
Think of Disney owning both the family-friendly Disneyland brand and the action-packed Marvel universe. While they share resources, their brand purposes—”family magic” versus “epic storytelling”—are completely separate.
Applying this to your brand
So what can you learn from this masterclass in brand purpose? Defining your purpose is the first step toward creating a powerful and memorable brand. Ask yourself these questions:
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What problem does my brand solve? It’s not just about the product or service you offer, but the deeper need you fulfill.
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Who is my core customer, and what do they truly value? Are you for everyone, or are you for a specific group of people with unique needs?
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What is the single most important thing I want my brand to be known for? This will serve as your “true north” for every decision, from marketing to product development.
TAKEAWAYS
- A clear brand purpose is a powerful tool for differentiation.
- When brand purpose is clear, it provides a “true north” for a brand’s choices and actions.
- A memorable brand identity often begins with a well-defined purpose.
Brand building isn’t hidden theory. It’s all around us. By noticing how successful brands connect with people, we can take the guesswork out of building brands that stand out and grow.
