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Tangerine: the future of ING Direct Canada

Tangerine: the future of ING Direct Canada

November 13, 2013 | Opinion | by Catherine

Last year, ING Direct Canada was acquired by the Bank of Nova Scotia from the Netherlands-based ING Groep. This coming spring it will be formally changing its name to “Tangerine” and getting a brand new look to match.

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ING Direct opened its doors in Canada in 1997 as a telephone banking company, offering no fee bank accounts with high interest rates. Since then, the company has thrived on being different from other banks, offering unique services and products. Last year, ING Direct Canada was acquired by the Bank of Nova Scotia from the Netherlands-based ING Groep. This coming spring it will be formally changing its name to Tangerine and getting a brand new look to match. 

Many customers were worried that ING’s service would change once Scotiabank took over, but according to the Tangerine website, things will stay the same:

 

“Everything you know and love about ING DIRECT is staying the same. And now it’s backed by the strength and stability of a major Canadian bank.”

While ING started off with mainly telephone banking, nowadays most customers bank online through the website and mobile apps. There are a few cafes and partner locations around the GTA where customers can bank in-person or at ATMs. Peter Aceto, the CEO of ING Direct, claims there are many positives that come from merging with a large company. The possibility of merging with all Scotia ABMs and a cash-back credit card hadn’t been possible until now. These new services will definitely add convenience for their customers, and help them stand out against their competition.

NEW+OLD-Logo

The new name, Tangerine, is quite unique and meant to coincide with their banking beliefs, and innovative products. The new logo is reminiscent of the ING logo, using the same arrow, but pointing upwards (to represent “forward” banking I assume) and a friendlier orange colour. It’s similar, but definitely improved. The logo is much more fresh and inviting than the previous logo, and simple. Comparing Tangerine’s brand to other banks in Canada, it is definitely bold and different. Aceto talks about the new branding on the Tangerine website:

 

“ING DIRECT has been a pioneer since 1997. And Tangerine, with its new logo, clearly articulates our DNA as we move forward. It is bold, because we are exactly that. It is energetic, strong, and modern. And it represents our evolution from a telephone bank with only a savings account to an everyday bank complete with mutual funds, mortgages, and a no-fee chequing account. Tangerine is what we believe forward banking is all about…”

With the release of the new brand a new website was launched, detailing the changes as well as general information about the company. While the logo may be simple, the website was far from typical. It’s bright and bold, and displays information in a way that makes you want to read it. The site is almost completely orange, with highlights and text in white and light grey. It’s hard to believe this website belongs to a bank. With its friendly font, bold company timeline, and simple icons, it’s night and day in comparison to most other bank sites, and almost makes banking fun. If you’re familiar with the British airline easyJet, you might find some similarities in the feeling of the brand.

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The new brand, in my opinion, has been well executed. The name and logo are bold, fresh and modern (in comparison to other banks…), which is what the company has always strived to be. At some point, there were rumours that the new name for ING Direct would be Scotiabank 360, which would have been disappointing. This is definitely a much better solution. There are sure to be more changes, and other applications of the brand released closer to spring, but for now it seems they’re heading in the right direction.

 

Sources & Additional Reading:

ING’s new name? Not Scotiabank 360 
Citrus-flavored Banking
ING Direct renames itself Tangerine
Scotiabank Completes the Acquisition of ING Direct Canada
ING Direct 
Tangerine

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Catherine

Catherine

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