Effective spring 2014, ING Direct will operate under the new name Tangerine, the online bank said Tuesday.
ING Direct also revealed its new visual identity at an unveiling event held in Toronto.
The online bank was acquired as a wholly owned subsidiary of Bank of Nova Scotia (TSX:BNS) in 2012, and is required to change its name and visual identity in 2014.
“This marks a very exciting milestone for the ING Direct team as they embark on readying Tangerine for its formal rollout in spring 2014,” said Anatol von Hahn, Scotiabank’s group head, Canadian banking.
“Tangerine is a bold name for a bold business, and we look forward to supporting Tangerine as they grow and offer innovative solutions for customers.”
The name choice is the result of the culmination of a 12-month process whereby ING Direct consulted with more than 10,000 Canadians, employees and clients, through qualitative and quantitative research.
The process was focused on the goal of staying true to ING Direct’s simple, progressive and transparent approach to banking, while also reinforcing to clients and employees a continued focus on innovation.
Although ING Direct will continue to operate under its current name in the interim, the public is encouraged to visit www.tangerine.ca to watch a behind-the-scenes video of The Making of Tangerine, as well as other information related to the transition.
ING Direct has over 1.8 million Clients and close to $40 billion in total assets.