Inside Money: OneWay to rebrand a bank

There's only OnePath, says ANZ. Photo / Thinkstock

I am going to resist the temptation to make fun of ING's new Australasian name: OnePath. Although, it does sound uncannily like some new-age religious cult...

But what do I know? I'm merely a freelance journalist who is paid by the word and - let's be upfront here - wracked with jealousy. How much did ANZ pay for that word?

It won't be disclosed in the bank's annual accounts but you can bet the invoice from multi-national firm FutureBrand (it's "about creating excellence"), which cooked up OnePath, is a six-figure sum. Even if you consider it a two-word job, that's a pretty good rate.

The ING replacement brand was announced yesterday with minimal hoopla and typical chutzpah.

According to Joyce Phillips, ANZ group managing director strategy, marketing and innovation (now maybe FutureBrand could do something about that title): "OnePath is a contemporary, positive brand which brings alive our promise to customers.

"The name reflects our role as an organisation helping people to shape and protect the quality of their lives, recognising that there is a different path for each and every one of us."

I interpreted the new brand name differently. My reading was that ANZ wants its wealth management clients travelling on the same path - ie one controlled by the bank.

The OnePath name is also consistent with the OneAnswer brand ING uses for its investment platform business (both here and in Australia), which suggests to me the whole megalomaniac desire of banks to exert total control on all aspects of their clients' financial lives.

I wonder, too, if staff at the investment platform call centre will answer the phone 'OnePath OneAnswer how may I help you?'.

How about telling us who you work for?

But I won't go down that path.



David Chaplin