New Brand Finance data reveals Chime ranks third, leading the region on quality perceptions but with room to grow on reach and price acceptance
LONDON, 15 October 2026 – As the first major U.S. banks report their third-quarter results, new analysis from Brand Finance, the world’s leading brand valuation consultancy, examines how Midwestern consumers perceive the brands behind America’s banking sector.
A two-horse race at the top
Capital One is the strongest banking brand in the Midwest, with a regional Brand Strength Index (BSI) score of 88.7 out of 100. The brand performs consistently across the funnel - 82% of Midwestern consumers are familiar with Capital One, 39% would consider it, and 19% actively prefer it, meaning almost one in five consumers in the region choose it over its competitors. Quality perceptions are also strong according to Brand Finance data, with Capital One scoring 8.4 out of 10 for reputation and 8.8 out of 10 for likeability when benchmarked against peers. However, Brand Finance data also shows that advocacy remains a relative weakness, with just 26% of consumers saying they have heard others talking about the brand.
Chase ranks close second, with a BSI score of 87.5. While Capital One leads on overall brand strength, Chase has the highest consideration in the region at 41% and is the Midwest’s best-understood banking brand, with an understanding score of 33%. Chase also scores 8.0 out of 10 for price acceptance, suggesting Midwestern consumers are willing to pay a premium for the brand.
The challenger ceiling
Chime ranks third with a BSI score of 72.5 out of 100 and has some of the strongest brand health metrics in the region. Its benchmarked reputation (8.8 out of 10) and reliability (9.3) scores are the highest among the top 10, while its likeability score (8.6) is second only to Capital One. Chime’s position, however, is limited by reach. Only 58% of Midwestern consumers are familiar with the brand, but it converts well from that base, with 13% preferring it. Lower willingness to pay a premium also weighs on its overall score.
These findings come as Chime moves to acquire Stride Bank for a reported USD590 million, a step towards holding its own banking charter rather than relying on a partner bank. Bank Director’s 2026 Technology Survey also found that banks now increasingly regard neobanks as a genuine competitive threat to larger incumbents.
Awareness without conviction
Several of the region’s largest banks show a pattern of strong familiarity but weaker conversion to preference and advocacy. Bank of America (ranked fourth in the region, with a BSI score of 71.4) owes its position largely to reach and records the lowest word of mouth in the top 10 at 21%. Wells Fargo (sixth, BSI 63.1) has 77% familiarity, the third highest in the top 10, but benchmarks below peers on reputation and reliability.
Citi (seventh, BSI 62.8) has a strong upper funnel, with 68% familiarity and 31.5% consideration, but only 9% preference. U.S. Bank (ninth, BSI 56.7) shows a similar gap - 70% of consumers know the brand and 26% would consider it, but just 7% prefer it.
By contrast, Huntington (eighth, BSI 61.9) has the second-lowest familiarity in the top 10 but performs respectably across perception metrics and achieves 13% preference, ahead of both Wells Fargo and Citi. Rounding out the top 10, Discover Bank (BSI 67.0) and PNC (BSI 48.9) rank fifth and 10th, respectively.
Alfred DuPuy, Managing Director, Brand Finance North America commented:
“The Midwest is effectively a two-horse race between Capital One and Chase, two brands that consumers not only recognize but understand and are prepared to choose. Further down the ranking, some of the best-known names in American banking are familiar to most Midwestern consumers but chosen by relatively few. Financial results show how a bank has performed, but they do not show how consumers feel about the brand. Banks that track their brand strength over time are better placed to spot where awareness is failing to turn into consideration, and ultimately, preference, and to act on it.”
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.
Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics, compliant with ISO 20671.
Brand Finance is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
