UTI has officially announced the change of its name to ‘Axis Bank’. The awareness campaign titled ‘UTI Bank is now Axis Bank; Everything is the same except the name’, has been created by O&M and is the brainchild of Sumanto Chattopadhyay.
Speaking on the reason behind the name change, Hemant Kaul, President-Retail Banking, Axis Bank, said, “The decision to re-brand the bank emanated from the need to move out of a scenario of brand confusion that is created by several shareholder-unrelated entities using the UTI brand. We renamed ourselves on July 30. Everything else remains the same, except for the name.”
On the creative point of view, Chattopadhyay commented, “The change of name from UTI Bank to Axis Bank is precisely just a name change. Everything else about the brand remains the same. Axis is a strong name with an international aura to it. It is very much in keeping with UTI’s success story in the private banking arena.”
On the marketing initiatives, a multimedia campaign was unfolded on August 1 that will go on for the next few weeks. It seeks to reassure customers that the change of name will in no way affect the services offered by the bank.
On the thought process behind the caampaign, Chattopadhyay explained, “The creative platform adopted for the name change is based primarily on twins -- siblings whose names are different, but are identical in every other way. This campaign will run on television, outdoor, print, radio and other 360-degree media. Some interesting innovations are planned in the print medium. On radio, the name change will be expressed in a slightly different manner, in keeping with the nature of the medium.”
The first campaign that was featured was a false cover page for Mid-Day going the broadsheet way. The campaign very much focussed on the idea on the awareness of the bank changing its name to ‘Axis Bank’.
Chattopadhyay further said, “Television will be given priority as it gives the maximum reach among the mass media channels. Besides the mass media channels, the 2,500-odd ATM locations will also be used to convey the name change message. And of course, the signages of the 600 or so branches will also change to reflect the new name.”
The logo design of Axis Bank is based on the letter ‘A’. It is a contemporary, universal and solid design that retains the burgundy colour of the original UTI logo as a link to its heritage.