BRANDING NEWS: BACS rebrands as Voca to further global ambitions
BACS has rebranded its payment services operation as Voca, with the aim of creating a platform for new services and expansion into continental Europe and beyond.
The new identity was unveiled at international banking fair SIBOS in Atlanta on October 12, with further launch activity focusing on PR in national newspapers and trade press in key vertical sectors. A brand building campaign is planned for the New Year, including targeted advertising and sponsorship. âThe aim of the rebrand is to have far more impact on the B2B community,â explains Phil Kennedy, head of brand marketing and communications at BACS. âIn the past, BACS was a relatively unknown brand. We are seeking to generate wider recognition. This is a massive step-change and is a fantastic opportunity.â
The new identity was developed by North, with communication material produced by Rufus Leonard. Kennedy says a strong brand is viewed as a critical component of BACS repositioning. âWe applied a B2C approach â branding is often undervalued in B2B. We really wanted to make an impact.â
Rebranding follows a change in the structure of BACS in 2003, which separated the organisation into two companies and enabled it to function on a more commercial footing. Voca is responsible for processing of payments and maintenance of the network. The BACS identity is retained as a 'not-for-profit' organisation dedicated to enhancing the integrity of payments. Both organisations continue to be owned in partnership by the UK clearing banks.
A core objective for Voca is expansion beyond its core range of products outside the UK. Whilst Kennedy describes most of these development plans as âmedium to long termâ, he says one joint venture has already been launched. Openview offers businesses and consumers a single view of multiple payments, and has been developed in association with Chequepoint.
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