Moneyextra, the consumer website of the Exchange, has been sold. The group believes it should focus ...
Moneyextra, the consumer website of the Exchange, has been sold. The group believes it should focus more on intermediaries' need for e-commerce solutions.
The group has purchased Ingleby 1045, the holding company of Crisp Computing, for £29.4m and has sold moneyextra.com to Great Western Financial Services, a subsidiary of Bristol & West, for £26m. It also intends to dispose of all its overseas consumer businesses.
Crisp is a provider of point-of-sale, administration, sales management, training and compliance software to the personal financial services industry.
The acquisition will enable the group to offer integration of back- and front-office processes with website systems. The group will be renamed Exchange FS and will now target IFAs, the direct sales forces of product providers and tied agents.
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