Fourth bank brand for Westpac

Westpac is stepping up its plans to introduce an additional banking brand in Australia, selecting Sapient Nitro to work on the marketing campaign for the new brand. The marketing blog Mumbrella reported on the selection of the advertising agency yesterday.

Speculation emerged late last year (in the Herald Sun newspaper) that Westpac would seek to adopt a further bank brand that would target a similar niche to that occupied by UBank for National Australia Bank in the deposit segment.

In December the speculation was that Westpac might revive the Bank of Melbourne brand as its internet-only brand.

Westpac already trades under the St George and Bank of South Australia brands in addition to its core branding.

UBank has proven moderately successful for NAB, though the bank discloses no data on deposits or customer numbers.