Feeds

Halifax tries to patent banking system

And corners UK WAP Phone market

  • alert
  • submit to reddit

Mobile application security vulnerability report

The Halifax has announced details about its soon-to-be-launched e-bank. At the heart of the service from Intelligent Finance (IF) - a division of Halifax plc - is the patent-pending Intelligent Banking, described by the bank as a "unique money management system". According to IF, the Intelligent Banking system will connect between customers' different financial products in order to maximise the interest on their savings or minimise the interest on their borrowings. Intelligent Banking makes customers' money work harder, the company claims, and will even notify punters automatically by e-mail if their current account balance falls below 100, or when their salary is paid in. By using Intelligent Banking, IF reckons it can save customers an average of 750 a year. Jim Spowart, CE, Intelligent Finance, said: "Consumers have been telling us that this is too good to be true. From July, it's a reality. It's Intelligent Finance." The e-bank reckons its new service is so hot, so dotcom exciting, that it needs to be patented. No doubt it feels it is performing some public service - protecting this new product from other banks because it is just too hot to handle. Critics, though, have condemned the bank's secretive approach. The Halifax became the subject of ridicule when it announced IF in February, but refused to tell anyone about it. IF is to be launched in July and promoted direct via a network of independent financial advisers. Some 10,000 people have already signed up to the service and IF reckons it will attract two million by the end of 2004. "The business has a 15 per cent target return on capital after tax and is expected to move into profit by its third year of operation," the e-bank said today. Elsewhere, as part if a deal with BT Cellnet, IF is to offer do-WAP-a-diddy-diddy phone to its first 150,000 customers so they can bank on the move. Given the shortage of WAP phones in the UK, signing up with IF looks like the easiest way to secure one of the beasts over the next couple of months. ®

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.