Retail specialist Conchango launches financial division

Retail specialist Conchango launches financial division

UK-based Conchango, a provider of IT consultancy services to the retail sector, is launching a division aimed at financial services providers.

Conchango will offer advice and technology based on its knowledge and expertise in the retail sector generated from partnerships with UK retailers such as Comet, Marks & Spencer, Tesco, B&Q, MFI and Debenhams. The company has also helped Marks & Spencer enter the financial services market.

Richard Poole, who heads up the new financial services division, says the success of retailers in growing financial services market share has been an alarm call for incumbent suppliers who are now looking to stem losses.

Mike Altendorf, joint managing director at Conchango, claims financial firms can only continue to hold on and improve market share by understanding why it is that customers have deserted them, and please them with better and more targeted services.

"Drawing on our knowledge of retail practices will add significantly to their current pool of customer knowledge and give them the edge in the long term," he adds.

The firm says its new division has already developed a suite of products and services to help clients comply with changing rules on polarisation, mortgages and the Basel II Accord.

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