Thredd

Thredd is a leading issuer processing partner offering next-generation card services, extensive API libraries, and 24/7 support solutions. It is equipped to meet the standards required by Tier 1 banks and is integrated with more than 40 issuing banks, operating programmes for 180+ customers in 60 countries, using over 150 currencies.

Operating as Global Processing Services for more than ten years, the company saw its acronym (GPS) become increasingly associated with location services, consequently impacting its brand equity. In 2021, the company started a transformation programme to strengthen its position in the market, launch its expansion to new areas and customer segments, and accelerate new product and technology developments.  

With its new ambitions, GPS decided to rebrand to ‘Thredd’ to “reflect its unique position as the go-to Payments Partner of Innovators worldwide”. Thredd also introduced a new legal entity name, visual identity, and design system alongside the name change.

The multi-layered impact of a name change 

Thredd’s primarily digital operations presented a challenge, as the changes needed to be implemented across a range of digital touchpoints. This is often a more intricate and labour-intensive process compared to the rebranding of offline assets.  

The legal entity name change gave the project another layer of complexity. As a company that partners with global financial institutions, Thredd is subject to an array of regulatory requirements across the different regions in which it operates. The company had many branded assets linked to these regulations, all carrying GPS’ legal entity name. Identifying all of these assets was a crucial first step in preventing any disruption to the company’s operations during and after rebranding. 

Additionally, because of the size and scope of the project, Thredd needed to engage multiple digital, creative, and content agencies, which made project managing the rebrand significantly more complex.  

Aware of the demands of its brand change ambition, Thredd partnered with VIM Group from the start of the project in order to work on a future-forward rebranding implementation strategy.  

Complete rebrand implementation support from strategy to delivery 

VIM Group began with an extensive analysis and mapping of the rebrand’s impact on the business. Based on the results of the analysis, VIM Group created a detailed roadmap for Thredd’s rebranding, including a plan for strategically replacing its old brand assets.  

Collaborations were crucial to the success of the implementation process, particularly between Thredd’s internal departments and the different agencies working on the rebrand. To optimise this process, VIM Group managed communications and designed a workflow process for tracking briefs and collaborative feedback. VIM Group also acted as brand guardians for Thredd, signing off on all creative work relating to the rebrand.  

Additionally, VIM Group provided Creative Services support, delivering the rebranding of all existing internal assets.  

‘Thredd’ from here onward 

With a complete rebrand, Thredd was not only departing from the GPS name but also the brand equity GPS had built in the fintech sector. The correct and consistent application of a new brand is integral to its short-term impact at launch and long-term success in the market.  

To make this attainable, VIM Group’s brand experts worked closely with Thredd’s internal stakeholders to implement, design and populate a digital asset management platform hosting all brand assets as well as new and interactive brand guidelines that will serve Thredd’s brand users for years to come. VIM Group also established an interim helpdesk for all internal stakeholders to communicate their questions and concerns surrounding the brand during the transition period. 

Thredd launched its new brand in April 2023.  Its digital and offline brand assets have been completely rebranded. The new brand guidelines and the helpdesk have been instrumental in helping internal brand users transition to the new brand. After its successful transformation, Thredd is achieving its vision and ambition with greater brand recognition, increased brand equity, and a strengthened position in the market.