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Financial Services well placed to exploit internet

Financial institutions are well placed to exploit the e-commerce revolution according to specialist on-line information providers Derwent Information.

The survey focusing on British retail and banking sectors, revealed approximately 87 per cent of financial sector respondents had an e-commerce strategy compared to approximately 26 per cent of those in the retail sector.

Derwent also found financial services firms were more in tune to legislation surrounding the use of e-commerce. It found only 35 per cent of the companies polled were aware of legislation but 80 per cent of these were from a financial services background.

Derwent&#39s managing director Mike Tansey says: &#34With up to 20 per cent of the global retail market capable of being captured by the internet, it&#39s clear that financial institutions have seen the opportunity and are taking action.&#34


Norwich Union to enter offshore market

Norwich Union is planning to enter the offshore market with a range of long term investment products.The announcement comes after it was granted a licence by the Irish Development Authority to establish an international financial services company based in Dublin.The life office is aiming to launch a range of products within the first quarter of […]

TWEFS appoints new chief exec

Tunbridge Wells Equitable Friendly Society has appointed David White as its new chief executive.White was appointed to the friendly society&#39s board as sales and marketing director last year. He replaces Nick Morrell who has left the society to pursue other interests.Peter Lloyd is appointed deputy chief executive and actuary. He joined the company in 1989 […]

Aegon UK buys GRE from Sun Life & Provincial Holdings

Aegon UK is to buy the UK life, pensions and unit trust business of Guardian Royal Exchange from its rival Sun Life and Provincial Holdings.The deal will cost Aegon UK £759m. The proceeds of the sale will be used to repay SLPH corporate borrowings.Both groups currently compete with each other in the IFA market through […]

Exclusive Connections discounts for five years

Mortgage packager Exclusive Connections has launched a five year discount rate loan.The discount rate over the five years is 1.25 per cent giving a payable rate of 5.64 per cent.Loans are available up to 95 per cent loan to value. There is also a £300 cashback.The redemption penalty for early repayment is nine months&#39 interest […]

US equities: opportunities for short sellers expand

Optimism is as American as baseball and apple pie. And since the financial crisis, being optimistic about US equities has paid off: they have outperformed every other major developed market by a comfortable margin. Yet while there remain plenty of good reasons to be optimistic about US equities, Stephen Moore, manager of the Artemis US […]


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