This is the tale of a digital bank which failed to identify the owner of a prior trade mark right through trade mark searches, launched itself onto the market under its chosen name and was then subsequently forced to rebrand, whilst trading, following a trade mark challenge.
Mondo: the Business
In early 2015 a tech business started up with the aim of becoming a completely digital bank which was not allied to, or licensed by, an existing “traditional” bank. Its customers would bank entirely through the use of technology, largely using smart phones and without the need for bricks and mortar. Attracted by the global connotation of the word, the CEO and founder chose the name MONDO and forged ahead.
Mondo received interest in the national, business and financial press and it was the subject of written articles both online and in print copy. It devised a colourful “M” logo and, befitting the digital nature of its aims, promoted itself on its website and Facebook pages, on Linkedin, and by blog posts. It had a Twitter account which adopted the hashtag #getmondo and there were live Q&A sessions on Twitter and Periscope.
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