[London, ENGLAND] European personal finance aggregator
moneygator.com
announced Thursday that Barclays, Bristol & West and
Diners Club have all joined its network.
Launched in May this year, moneygator.com enables its
users to make online applications for mortgages, loans
and credit cards. It has 32 lenders on its sites who have
loaned over $142 million as a result of their participation.
Henning Holter, moneygator.com’s managing director, welcomed
the new lenders and said they would widen the choice available
to users.
“We believe we are succeeding in our ambition of creating an
independent authoritative channel for personal financial services
which gives control of the buying process to the customer,” said
Holter.
With 18,000 registered users and over 50,000 visits per month,
moneygator.com claims to be one of the fastest-growing personal
finance aggregators in the U.K.
The unique selling-point offered by moneygator.com is its
pre-screening application process. This allows providers
to associate specific criteria with each product — criteria
which moneygator.com then matches with the applicant’s data.
As a result of using pre-screening, moneygator.com says it
makes financial product comparison easier and more efficient.
It also claims that its Internet distribution model is so
effective that lenders can now offer products that would
normally be uneconomic using traditional intermediaries.
Internet banking is making steady progress in the U.K., despite
a consistently bad press. “First Internet Bank Robbery” was
Wednesday’s front page headline in the London Evening Standard —
referring to an inept bid by criminals to steal online from Egg.
However, Egg itself now has 1.2 million customers while other
brands are also attracting new business.
Among the brands on the moneygator.com site are: Halifax,
Northern Rock, Yorkshire, Egg, Woolwich, NatWest, Nationwide,
Scottish Widows, Paragon and Marks & Spencer Financial
Services.
