The UK's Mondo is inviting the public to vote on a new name for the mobile-only banking startup after being legally challenged by an undisclosed company with a similar name. Sadly for fun-loving troublemakers, nominations for Banky McBankface will be disbarred.
Having invested substantial time and energy in building the brand, and issuing its first batch of 25,000 cards to users bearing the Mondo Bank name, the company is now being forced to come up with a new moniker before it moves out public beta.
Recognising the urgency of the situation, the search for a new name begins today, with a deadline set for midnight tomorrow. The startup hopes to have the new branding set in stone within the next three weeks.
The firm has set a number of ground rules, including the disbarring of Banky McBankface in the wake of the groundswell of public opinion that saw Boaty McBoatface emerge as the most popular name for a new British arctic exploration ship.
Other stipulations insist that the new name begins with the letter 'M', thus protecting the investment in the company logo, and that the name should work across different languages and cultures.
The company is putting a brave face on the lash-up. "It can be painful to change the name of a product, but - being the optimists we are - we think this is a great opportunity to come up with something even better," says Bailey Kursar, M....'s marketing manger. "Our commitment to transparency means we’d love your help finding something that will represent us from now on."