Evolvebank.com crawls out of primeval Web slime

This family tree don't fork

Lloyds TSB has jumped into bed with Lycos to spawn an ugly lovechild that will grow up to be a pan-European e-bank.

evolvebank.com will launch in Spain later this summer and in Britain by the end of the year followed by France, Germany and Italy in 2001.

The "standalone" ugly-named e-bank (who thinks up these stupid names?) is expected to attract 1.3 million e-customers across Europe by 2003.

The announcement comes in the same week the Halifax released further details about its e-bank, IF.

Peter Ellwood, Group CE of Lloyds TSB said the online venture would set it back 150 million this year.

Lloyds said evolvebank.com (someone really gave it a good beating with the ugly stick, didn't they?) would not clash with its existing British e-bank, LloydsTSB.com.

And while we're on the subject of LloydsTSB.com, thanks to a Hampshire-based vulture-eyed reader who notes that like TFInet, this e-bank also lets users alter the terms and conditions before signing up for the service.

So we did, and asked for a stash of cash, world peace, England winning Euro 2000... ®

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