Yeah there was no reason to do this. It looked absolutely fine and trustworthy as it was before, and these resources could have been better spent addressing functional matters or adding product lines.

That said, there was no need to rebrand as Wise either, as everyone still calls it "Wise (formerly known as TransferWise)" online, because "wise" is too generic a word to be a good enough selector.

I'll keep using you, because you have a good engineering department and you're the only game in town, but things like this are a tell that the business is starting to drift away from core priorities.

This reminds me of the similarly poor branding change done by Toggl, where they changed from a nice, visually comfortable theme, to a conjunctivitis themed one.

These behaviours are what I call "do-stuff-itis", which can indicate too much staff in certain areas of the business or overall, or weakness in the executive team.