Names you can bank on
In an industry as dynamic as banking, names are especially prone to being outgrown. So when an institution realizes its name is not memorable, searchable, or functional anymore . . . well, it’s always changeable.
A fresh identity can provide:
An Umbrella for Growth
In today’s global economy, more and more financial institutions are expanding beyond their original scopes for markets and services, and local names are simply too limiting.
People’s Bank changed to People’s United Bank to accommodate its plans for growth
Royal Bank of Canada uses RBC as the master brand for its worldwide financial services, allowing for inclusivity and global presence without confusion
State Street Boston dropped Boston to speak to a broader audience
A Simplified Brand
Taking a bland name and giving it a fresh, unique identity.
Washington Mutual gradually changed its name to the friendly and memorable WaMu
Citi is the sleek new unified global brand for Citigroup Inc
National Bank of Commerce swapped its traditional moniker for the light and lyrical name, Cadence Bank
Merger Marketing
Mergers are very common in the banking industry and retaining the positive brand associations from both previous names can help with an easy transition.
The Bank of New York merged with Mellon Financial Corporation to form The Bank of New York Mellon Corporation
TD Banknorth Inc. said it will change its name to TD Commerce Bank following its purchase of a New Jersey institution, Commerce Bancorp Inc
Contributed by: Maghan Cook