Magazine article Marketing

Name Clash Threatens Universal Bank's Plans

Magazine article Marketing

Name Clash Threatens Universal Bank's Plans

Article excerpt

The Post Office is on the verge of shelving plans for the Universal Bank's flagship brand, Clear, following objections from other financial services firms about a potential clash of names.

The Clear brand is now likely to be scrapped because it is already used by other firms in the sector. The Post Office is in talks with the companies about using the name in a modified form, but has already begun to look at other options should the discussions prove fruitless.

A Post Office spokeswoman said: "Clear is not definitely going to be scrapped, but unless we can reach some sort of agreement, we may have to go back to the drawing board."

The Post Office intends to use the brand to explain to financially excluded consumers how they can access a tailored portfolio of secure and easy-to-manage financial services.

The latest development marks a setback for the Post Office as it gears up for the launch of the Universal Bank, which is aimed at easing the impact of the government's decision to pay benefits directly into bank accounts from 2003. …

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