ING’s Tangerine Dream

I used to think ING was one of the cleverest of brand names.

Here was a name that was completed according to whatever you wanted to do – live, build, spend, create, plan, save, retire, raise, invest, etc. ING smartly provided the participle (‘ing’) that turned the verb into a noun. Live becomes livING, plan becomes plannING, invest becomes investING. Whatever you need is made active by ING. See what I mean?

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OK, maybe it was more a case of wishful thinking and projection on my part. ING is just three initials that stand for the mundane ‘Internationale Nederlanden Groep’ — a big financial services conglomerate based in Amsterdam. But some interesting brand developments are taking place around this otherwise quirky letter string.

The ING name dates from 1991 when a Dutch bank and an insurer merged to form the Internationale Nederlanden Groep. Over the intervening years more than fifty different brands have ben acquired and consolidated into the ING worldwide brand.

The great financial meltdown of 2008 brought an abrupt halt to their global ambitions. ING received €10bn in capital support from the Dutch government. In return, ING and the Dutch government reached an agreement with the European Commission to restructure the company in a ‘back-to-basics’ strategy, separating its banking, insurance, and investment management operations.

Out of turmoil springs creativity. The big break up of ING is spawning some interesting new brand names.

In the US the ING brand, with its disturbing Oz-like Cowardly Lion logo, first appeared in 2001 when multiple investment and life insurance acquisitions dating back to the 1970s were rolled up into what became ING US.

As part of the restructuring plan it will be divested through an IPO to be completed by September 1. Its new name will be Voya Financial.


Given the scope and scale of the rebranding, introduction will be staggered. The Voya name is already in use in some parts of the organization.

In a well scripted announcement, chief marketing officer Ann Glover made good use of the allusion to voyage, of which voya is a word part, that the name nicely evokes.

“Voya is an abstract name coined from the word ‘voyage’…the name reminds us that a secure financial future is more than simply reaching a destination; it’s about a positive journey to financial empowerment, and knowing that Voya can help you take control along the way.”

And don’t overlook orange, it has to be a big factor in the brand, no?  “It also associates well with the color orange, which remains a distinctive attribute of our brand.” Thanks for clearing that up Ann.

Meanwhile, up in Canada, ING Direct is also going through a similar exercise.

ING Direct first entered the Canadian market in 1997 as a telephone banking service offering savings accounts. It was the first test market for ING Group’s direct banking business model, where the aim was to offer more favorable rates to customers by avoiding the costs of running a network of branches.

Operating without traditional bank branches, it instead opened a small network of ING Direct Cafes for its face-to-face contact points. As the bank expanded into online banking it also grew to offer mortgages, mutual funds and a no-fee checking account.

In November 2012 Scotiabank, one of the ‘big 5’ Canadian banks, completed the acquisition of ING Direct from ING Groep. As part of the terms of the deal the bank was required to change its name from ING Direct before May 2014.

Lexicon Branding, the firm that created the name Blackberry for Research in Motion (another Canadian company), got the call to handle the name change. And, yes, they again came up with another fruit.

After research among 10,000 people, 1,500 customers and 5,000 employees it was established that simplicity, innovation and the color orange (just as Voya concluded) were the attributes to build on with a name. Orange Bank was, in fact, on the shortlist. Whether or not the fact that Orange is also the name of a global telecommunications company colored their thinking about orange is unknown, but it had to be a consideration in the legal due diligence stage of name evaluation.

CEO Peter Aceto thought orange was “too safe or obvious of a choice”. Easy to say when someone else thought of it first. Instead he plumped for a close citrus relative – the tangerine. Tangerine makes reference to ING Direct’s orange history, he said, while also being significantly different. “Significantly different” is stretching it a bit. After all, we are not comparing apples with oranges. A tangerine is an orange citrus fruit.

While there will be no reference to the fruit in brand communications it’s hard to avoid the reality that the word tangerine is used almost exclusively in reference to the fruit. As a color, tangerine is classified as a shade of orange.


But Tangerine it is for ING Direct and good luck to them.

In Europe, ING Insurance is taking a much more conservative route than its North American cousins.

It, too, is being spun off as a standalone company and is changing its name. It will be known as NN, taken from the initials of Nationale-Nederlanden, one of its constituent businesses. NN may look pithy and modern, but on first hearing it will likely sound incomprehensible to people unfamiliar with the name.

BP, BT and GE get away with the initial brevity because of the distinctive plosives that distinguish the letter sounds. Try saying NN out loud without sounding slightly deranged.

Still, two out of three isn’t bad. And NN, too, is orange. Or tangerine if you prefer.

NN…Never mind

One thought on “ING’s Tangerine Dream

  1. Pingback: Is rebranding useful to retain insurance customers?

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