It seems like it will be a lot like Game of Thrones from what we know so far. (Hence my name)
Theories on the banners based on GOT simularities (If they have any)-
Gryphon- May be based on the Lannister lion, maybe our main antagonizing clan.
Wolf- Obvious reference to House Stark, maybe our "good" clan.
Hourglass- I have no idea how this one could be related to GOT, but I think it may be related to death or the afterlife as time is running out in the hourglass and that is sometimes used as a symbol for death.
Dragon- House Targaryen, may be our underdog so to speak.