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Society widens online service

Principality Building Society is expanding its online advisory service Moneypilot.co.uk to include pension and investment advice.

The service offers an online mortgage and insurance system but is aiming for its pension and investment sections to be operating by mid-August.

It enables consumers to talk to phone-based whole of market mortgage bro- kers while viewing the dec- ision process online.

A non-advised division is being developed and will be included in stage two of the project.

Moneypilot.co.uk managing director Neal Pritchard says: “The problem with many online systems is that they require downloading and consumers are wary of downloading software.

“We have developed a licence for the software that does not require downloading. It will lay bare the back-office systems that the adv- iser is using, which, in light both of treating customers fairly and building financial capability, is making great steps forward.”

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