Interesting stories often surround the naming of companies. How should they have been called? Were there any alternatives? And if so, which ones? The original idea for the company name also differed a little from today’s name. But then, due to some concerns, it changed to what we know today: efcom. Here are the details:

 

The four founders agreed that their company should be called “economy financial company”. This was their ideal solution, therefore they had thought of no alternative(s). The reason behind that was that the name included all important terms, thus offering an excellent foundation for their positioning. The executive notary, however, had a different opinion on that name. He thought, the company name was vague and misleading. “One might think you are a bank!”, he objected. efcom is supposed to be a bank? After all, this was too risky for the start-up entrepreneurs and they opted for the abbreviated version – efcom. Short, sweet and exactly to the point. Up until today, it is one of our evident strengths to get to the point quickly. In this sense, the abbreviated version was the perfect fit for us right from the start.