Intelligent Finance
Financial Services Company
NAB eyes UK banking assets...by the UK government, said earlier this month it would sell Cheltenham & Gloucester-branded accounts and mortgages, its Intelligent Finance online unit, some Lloyds TSB branches and the TSB brand within four years. The same day, Royal... In this article: UK, Lloyds TSB, Royal Bank of Scotland, Bad debt, Clydesdale Bank, National Australia Bank, Yorkshire Bank, Intelligent Finance, and European Union |
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scotsman.com - Business | November 18, 2009
EU approves Lloyds plan to offload branches
...& Gloucester brands, Lloyds TSB's branches in Scotland and some additional Lloyds TSB branches in England and Wales, as well as the Intelligent Finance online banking business. Lloyds Banking Group yesterday published a preliminary...
In this article: Lloyds TSB, European Union, UK, Balance sheet, Cheltenham & Gloucester, and England
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Telegraph.co.uk - Business | November 18, 2009
Lloyds gets EU goahead for proposed restructuring
...part of its deal with Brussels, Lloyds agreed to sell 600 branches, the TSB brand, Cheltenham & Gloucester's mortgage and savings book and Intelligent Finance. "There is no such thing as a free lunch and today's restructuring announcements...
In this article: Lloyds, European Union, Royal Bank of Scotland, Europe, Bad debt, Cheltenham & Gloucester, and Brussels
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Independent.co.uk - Business | November 18, 2009
Lloyds sell-off plans approved
...& Gloucester, Lloyds TSB's branches in Scotland and some additional Lloyds TSB branches in England and Wales, as well as the Intelligent Finance online banking business. Lloyds announced the fundraising plans to avoid a taxpayer-backed...
In this article: Lloyds TSB, Cheltenham & Gloucester, HBOS, UK, England, and Wales
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Daily Mail | November 17, 2009
Building societies fight for their lives: We're being crippled by State-backed banks, warn bosses
...cent. Northern Rock - which benefits from a Government guarantee on all savings - has the best High Street savings account. AA Savings, Intelligent Finance and Birmingham Midshires - all part of giant Lloyds Banking Group, which has...
In this article: Barclays, Norwich & Peterborough, Leeds, Financial Services Authority, Northern Rock, Bradford & Bingley, Abbey, and Alliance & Leicester
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Times Online | November 07, 2009
I don't know where my loan will go
...the rate with me as long as I borrow no more than 75% of the property value but a new lender could be far more cautious. They have form - Intelligent Finance recently told borrowers that they will no longer be able to take their deals with...
In this article: Lloyds, Royal Bank of Scotland, Credit crunch, and Bank of England
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Lloyds asks its investors for more
...is keen to take up the new shares on top of his existing 0.3% holding. He said: "The disposals of Cheltenham & Gloucester and Intelligent Finance along with the Lloyds Scottish branches should not be too onerous. " The rights issue is...
In this article: Lloyds, Cheltenham & Gloucester, and Barclays
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Roll up, roll up, for the great bank sell-off
...full Tesco Bank branches - so is an unlikely bidder. And while a supermarket might like Intelligent Finance, Lloyds' internet bank, Mrs Kroes insists it be sold in the same package as the branches. Standard Chartered is a well capitalised...
In this article: Royal Bank of Scotland, Customer, Santander, Northern Rock, Cheltenham & Gloucester, National Australia Bank, Barclays, and Tesco
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Q&A: What the bank break up means for you
...to change this unless the rate is stipulated in your mortgage contract. What if I have an account with Intelligent Finance (IF)? Intelligent Finance customers will continue to have access to their accounts via the internet and phone. Once...
In this article: Customer, Lloyds TSB, Royal Bank of Scotland, Cheltenham & Gloucester, Privilege, Direct Line, Small business, Green Flag, and Bank of England
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Reuters | November 03, 2009
FACTBOX-Asset sales by RBS, Lloyds
...& Gloucester; the branches and customers of Lloyds TSB Scotland; additional Lloyds TSB branches and customers in England and Wales; and Intelligent Finance. Lloyds estimated the businesses to be divested contributed about 500 million...
In this article: Royal Bank of Scotland, Lloyds TSB, UK, Commodity, Revenue, Risk management, Green Flag, and Direct Line
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BBC News | October 29, 2009
Douglas Fraser branches out on LLoyds' break up
...Lloyds - but if that crops up in a headline soon, remember where you saw it first. A new variation today suggests Lloyds TSB Scotland and Intelligent Finance, an online division of Bank of Scotland, will be put up for sale. Intelligent...
In this article: Lloyds TSB, Bank of Scotland, Royal Bank of Scotland, Halifax, and Cheltenham and Gloucester
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Description from Wikipedia:
Intelligent Finance (IF) is an offset bank operating in the United Kingdom, a division of Bank of Scotland plc which is part of Lloyds Banking Group. It was established as a division of Halifax plc in 2000 by Jim Spowart, who helped establish other direct financial services firms including Direct Line. Following a reorganisation of the HBOS group, it is now a division of Bank of Scotland plc. IF's registered headquarters are in Edinburgh, with customer service operations based around Scotland (Livingston, West Lothian and Rosyth, Fife).
IF was set up at a time when many banks were exploring opportunities to utilise new technology to reduce the costs of providing financial services. IF established what it marketed as "intelligent" products whereby customer pick a combination of all or some of a range of bank accounts including current account, savings account, mortgage and credit card. The credit balance in a person's current account and saving accounts would "offset" any debit balances in the person's mortgage and credit card accounts. The customer would then pay interest on the net balance, potentially allowing savings to be made on borrowings. However in June 2005 IF withdrew its offset credit card, citing high running costs.
Although the bank was hit by technical problems at its launch, it quickly gained a significant market share in the mortgage and current account markets.
Intelligent Finance sponsors the Scottish First Division football team Livingston FC. From 2006 to 2008 it sponsored the if.comedies award, successor to the Perrier Comedy Award, at the Edinburgh Fringe.
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