Insider Media Limited

A Derby-based business is being forced to change its name following objections from two global brands. Avisa Financial Services, which launched three months ago, will be rebranded as Oviso following complaints from payments giant Visa and insurance company Aviva.

Despite following all the appropriate legal channels when selecting their new name, the directors of Avisa Financial Services have now been instructed by Aviva and Visa to change their trading name in order to avoid legal action.

The three company directors, Sarah Fullaway, Lee Mortimer and Matt Simpson, said that they were conscious that a legal battle to keep the name may “take months, cost thousands of pounds and ultimately result in Visa and Aviva winning the case with their vast resources”.

Director Sarah Fullaway said: “You can imagine how shocked and concerned we all were when we received letters from Aviva and Visa, especially as we had gone to great lengths to ensure that we had followed the correct channels when choosing our new company name.

“We have spent thousands of pounds on the launch of the business and the development of a strategic PR and marketing campaign, so to find ourselves in this position is extremely frustrating and very worrying.

“The company has really boomed since it was launched and we hope that this matter can be resolved quickly and properly, so that we can re-brand and continue to grow as a business.”

Both Aviva and Visa have agreed to the name change and Avisa will become Oviso with immediate effect.