They Say 'Tomato'

Motoring along Sawtelle Boulevard in Los Angeles last weekend, on the one day I didn't have my camera with me, I glimpsed a sign that appeared to read "TomatoBank." Say what? If I'd been behind the wheel, I would have screeched to a halt to investigate, but I wasn't, and I couldn't, and I didn't. Still, I couldn't get that sign out of my mind. Several years ago I'd labored on a naming project for a Bay Area bank. We thought we'd explored every possible direction--geography, history, commerce--but somehow we'd just plum overlooked produce. Why not TomatoBank?

That's exactly what the L.A. bank's chairman and CEO, Dr. Stephen Liu, asked himself, as I discovered when I did some online research. The bank was founded six years ago as InterBusiness Bank, which Dr. Liu rightly found generic and boring. So last year he changed the bank's name to TomatoBank, N.A. "Why TomatoBank? Why not?" Dr. Liu asked rhetorically in a press release. "It is an attractive brand name that brings to mind images of growth, multi-culture and health, all characteristics that represent who we are and what we strive to achieve. But most importantly, it is a brand that is recognizable and hard to forget. If there can be an Apple Computer - why not a Tomatobank? Try to forget it. You can't!"

You know, he's right. Besides, according to an article in American Banker magazine, "the word 'tomato' resonates with Asian-American customers, because banks in Asia are often named after fruit, vegetables, or flowers grown in their region, and Asian-Americans particularly love tomatoes."

And I think the whole concept is fruitful. Why not a CarrotBank that offers appetizing incentives (unlike those mean old StickBanks)? Or a SpinachBank, where your long green can flourish?

Meanwhile, I want one of those red TomatoBank Visa cards. Tasty!

 

Comments

[Tate Linden]

Great post! But...

Careful what you wish for with those suggested names, Nancy. I agree that Tomato Bank is a lot of fun and memorable... but as soon as you get a bunch of Spinach Banks, Carrot Financials, and Beet Bankers, you take all the good parts of Tomato Bank and you turn them to mush.

With a few dozen banks named after vegetables you won't be able to tell any of them apart. Sadly this is *exactly* the kind of stuff that happens in the naming world all the time. Remember when Flickr had a novel approach to naming? Now companies are going after forshortened names even if the longer version is available...

[Nancy]

Tate--I guess my little attempt at tongue-in-cheek was a dud! P.S. I'll have more to say about bank naming in a post later this week. Stay tuned!