Source: Intelligent Environments
Intelligent Environments Group (AIM Ticker: IEN), the online software provider for financial services, today announces a three year contract to develop and manage an online portal for one of Europe's leading retail banks.
iE has an order for approximately £500,000 relating to the implementation of the system in calendar year 2007. Once active, the Group will charge a transaction fee for each application made. The primary audience for the new portal will be European retailers who wish to launch own branded financial services for consumer finance products. The first client has already been secured.
iE believes white label retail financial services can become one of its strongest profit drivers in 2008.
Phillip Blundell, CEO of iE, commented, "Our focus is to continue to extend the iE network across Europe working in partnership with the larger financial institutions. There is an increasing uptake of online applications, as both banks and their partners realise the cost and marketing advantages in selling products to their customers online. This is supported by the general public's adoption of the online channel to apply for their financial products."