Lycos to offer consumers comparative financial aggregation
23 August 2001 | 3316 views | 0
Lycos Europe has struck a deal with moneysupermarket.com to offer European consumers a comparative financial aggregation service, in which user accounts are displayed against a list of 'best buy' products that may offer better value.
Lycos Europe has agreed to be the first portal partner to take on moneysupermarket.com's new dual aggregation system, which will launch in Q4 2001. Lycos intends to launch the service across its European portals, starting with the UK operation.
Moneysupermarket.com describes dual aggregation as a combination of account aggregation with product aggregation, in which consumers can compare and contrast their own products with alternative offerings. Products listed include current and savings accounts, credit cards, stock broking accounts, mortgages, utilities and insurance. The company takes a share of the revenues from any products sold through the aggregation portal.
Moneysupermarket.com is currently offering the service to its white label and co-branded partner sites. It says it is working with providers and insurers to clarify the legal position of aggregation users.