OANDA, a multi-asset trading provider, announced today that it has rebranded its currency data and analytics business, giving it the new name of Foreign Exchange Data Services.
The name change aims to better reflect OANDA’s core offering to the market, the company said in the statement seen by Finance Magnates. It is our understanding that the rebranding has been in the works now for a couple of months, and the launch date hasn’t had an impact on today’s news.
Under the rebranded business, the trading provider will continue to offer the same currency solutions, which it currently offers to audit firms, tax authorities and multinational corporations.
As part of the rebranding, the firm announced today that it has launched a new FX Data Services digital brand identity. This includes a website that provides thought leadership to clients and a self-help portal that allows customers to manage their accounts online.
Rebrand Unaffected by COVID-19
Finance Magnates asked OANDA how long this has been in the works for OANDA and whether or not the process was delayed or perhaps, brought forward by the Coronavirus pandemic. Their response suggests the rebrand was unaffected by the global pandemic. A spokesperson said:
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“The OANDA FX Data Services rebrand has been in the works since late 2019, however, a project like this requires input from many avenues within the organisation and has many moving pieces. As such, we’ve been working steadily towards this point as a team throughout the year.
“Fortunately, COVID-19 has not had a major impact on the rollout of the OANDA FX Data Services rebrand. We’ve actually completed the project largely according to plan, despite the pandemic.”
OANDA Rebranding to Help Mitigate FX Risk
Commenting on the updates, Lucian Lauerman, Head of OANDA Foreign Exchange Data Services, said in the statement: “With almost 25 years experience, OANDA has long been viewed as the gold standard when it comes to currency rates. However, we felt our name needed to better communicate our core offering to the market.
“OANDA FX Data Services clearly conveys our unwavering dedication to helping clients mitigate FX risk and build their bottom line through the provision of accurate, reliable currency data.”
The rebranded business – OANDA Foreign Exchange Data Services, will operate under a new business entity called OANDA Business Information and Services Inc.
“Given OANDA’s longstanding history of technological innovation, we also wanted to take the opportunity to revitalise our digital presence and create an intuitive self-help portal where clients can perform simple account functions, access tools and resources, and contact our customer service desk quickly and easily,” added Lauerman.