The Paramount Bank, Halifax’s latest offering, which specialises in low-cost loans and credit cards, is being branded by design consultancy The Big Biscuit, formerly known as Yell.
Elmwood, which is one of the Halifax’s rostered consultancies, has taken part in a series of name-generation exercises for subbrands, including credit cards.
The Big Biscuit, which won a paid creative pitch against two unnamed consultancies, also designed the bank logo and the concept for the credit cards.
The launch of Paramount will be supported by a multi-million pound marketing campaign. The brand will sit alongside Halifax’s existing credit card operation, Halifax Card Services, but will operate as a standalone brand.
An on-line service will be added to the offer in the spring.
Paramount Bank, which will target customers outside the reach of the high street, has the autonomy to take its brand in the direction it chooses.