Standard Bank finally admitting it's a bank?

I am quite pleased that Standard Bank has "rebranded"...

I had intended for this to be a positive take on this effort, but already my mind is objecting. Therefore, in fairness, I'll present both sides of my view.

From a cautionary front, I guess it would be more comforting if it was just a new and relatively insignificant campaign, but it isn't. It's clearly a declaration of a new direction. The issue here is that this represents the second rebranding attempt in a few years for Standarad Bank. Banks, to most, should be consistent and reliable, not constantly trying to figure out their role in their own customers' lives.

In light of this, it should come as no surprise when some express their severe disappointment that Standard Bank is no longer inspired, motivated and involved and likely, never really took the opportunity to prove it. You see, it is difficult to believe that a bank, which people pay to keep their money safe; pay back with interest; and pay to help their money grow, is inspired and motivated in any other way than to make more money. It is similarly difficult to fathom how a bank is involved. The only example of a bank demonstrating its involvement via mass media, in the true, positive sense of the word, is Nedbank's solar-powered billboards.

Thus, while a change is slightly disconcerting, it is equally welcome and finally representative of a move towards something that is far truer to a bank and a bank that is operating in many emerging markets.

Let's recap. "Simpler. Better. Faster" was arguably a disaster. If one person waited in a queue for an ATM a little too long or stood in a bank queue a few minutes more than patience could tolerate, this claim and promise fell flat. In fact, I suspect that this promise not only fell flat, but, on occasion, got subsequently stamped on and, in extreme cases, maybe even spat on.

Therefore, it was a wise move to re-evaluate the consumer promise. We were then introduced to a smooth-talking and friendly man, who told us that Standard Bank was "Inspired. Motivated. Involved." Despite the obvious problem I have already highlighted regarding this, these words are so abstract that they are almost impossible to live up to. First, people will interpret them in different ways and second, they sound so angellic and impossible that they just simply couldn't be believed.

However, Standard Bank is now "Moving Forward." Cynics might be a little concerned that this implies their bank was standing still before, but I believe this is Standard Bank's first honest attempt at being a bank, especially in a number of emerging markets.

Although "Moving Forward" could be perceived as a slightly cowardly move that leaves constant room for error, it certainly is relevant. Do most people not bank and invest as they move forward or to move forward? Andit is certainly something that has the potential to resonate in many markets, both developed and developing.

What will be interesting to see, however, is whether Standard Bank can prove to its customer base that it is fully equipped and willing to assist them in moving forward. It also needs to be able to demonstrate that it is capable of moving forward and evolving its business- this includes its products and services, which will need to represent forward-thinking.

They have set themselves quite a challenge- let's hope that Standard Bank will be able to truly demonstrate this promise as opposed to using it as an excuse for when something may go wrong.