RealTime IT News

Moneyextra Puts Personal Finance Services on Myshares Portal

[London, ENGLAND] Personal finance Web site operator moneyextra plc announced Tuesday a deal that will put its services onto the popular myshares portal.

Moneyextra will power two areas of the myshares portal, named respectively "My Money" and "My Portfolio."

The My Money section includes interactive calculators to help users compare and select financial products, buy online, and track and manage their finances.

In the My Portfolio section users will be able to track their investments throughout the day, checking on traditional shares and bank accounts and on other investments such as Individual Savings Accounts (ISAs).

Paul Lindsey, chief executive of moneyextra, said that his company's range of e-commerce trading applications is increasingly being used to power not only its own services but also those of third parties.

"We are are confident that moneyextra will offer significant benefits to the employee users of myshares," said Lindsey.

Founded by corporate finance house Capital Strategies, myshares provides financial portal services for large corporations such as SmithKline Beecham, Orange, Debenhams, Logica, Cadbury Schweppes, United News and Media, and 200 other FTSE companies.

Moneyextra plc is now beginning to expand across Europe and says it plans to become the top European online distribution channel for financial services.

Recently, moneyextra acquired aspect online, Germany's leading Internet financial services company. Earlier this year it also acquired Fondex, a Scandinavian online retail investment fund supermarket. Moneyextra also has two other joint ventures in Germany and Spain.

In its home base in the U.K., moneyextra.com reported over half a million unique users of its Web site during June 2000.