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.
Crow/Raven- May be related to the the Three eyed raven, maybe they will have an ability like warging
Dead Tree- If the hourglass doesn't represent death, this one surely does
Living Tree- May represent the Weirwood
Flower- House Tyrell reference, may provide aid to the gryphon clan
Spider- Reminds me of Lord Varys and his spider web of knowledge, may be the oracles of the game
Deer Horn- House Baratheon reference, may be on the throne at the start of the game
Viper- Dorne and House Martell
I know that the developers can not copy the story line exactly due to copyright but some things may be similar.