Abbey National will launch two internet initiatives next year, one as a competitor to the Prudential...
Abbey National will launch two internet initiatives next year, one as a competitor to the Prudential's Egg, while the other will feature online access to mutual funds.
Neither of these projects will be branded under the Abbey National banner.
Abbey National's wealth management division is developing the online funds supermarket. A spokesman for Abbey National confirmed that access to investment funds through the internet is one of the components for the new business.
The group will also launch a service called Aquarius, which will be a separately branded internet banking service and is likely to resemble the Prudential's Egg internet accounts.
These two initiatives are being aimed at the direct market and also outside the group's existing customer base.
At the same time Abbey National is working on numerous internet initiatives towards its existing 15 million customers.
‘Important to have an anchor’
Report to be written by TPR
Lack of innovation for solutions
Some 2,000 consumers affected