Challenger bank Monzo has failed to trade mark its characteristic “hot coral” branding, reports have revealed.
According to City AM, the Intellectual Property Office (IPO) has rejected the bank’s application after it sought to prevent the colour from being used by competitors.
The recognisable orange colour scheme is used across the bank’s business collateral, including its debit cards and website.
Reports suggest that Monzo filed to trade mark ‘Hot Coral Pantone 805 C’ with the IPO in April 2018, but withdraw it in September this year after failing to convince the European Board of Appeal of the colour’s distinctiveness.
Commenting on the application, the digital bank said it is facing a “growing number of infringements” globally, forcing it to apply to protect itself against imitative products.
It is understood that the bank will appeal the decision.
The latest figures suggest that Monzo now has more than three million users and is valued at around £2 billion. The bank gained rapid popularity after appealing to the millennial market with features such as remote card blocking, payment notifications and budgeting tools.
Interestingly, the bank, previously named Mondo, was forced to rebrand in August 2016 after a legal trade mark challenge. The bank was reborn as ‘Monzo’ after settling with the unnamed claimant.
For help and advice with your trade mark application, please get in touch with our expert team.