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The site offers motor insurance on-line and also allows visitors to select from a wide range of mortgage loans, credit cards, general insurance and life insurance products.
The company says that the site was developed to ensure that an individual's personal details are kept in databases on the secure finance2u servers and not transmitted over the Internet. Instead, banks and insurance companies will log-on to the site under controlled conditions to view the applications consumers have made to them.
The new site will compete with solmon.com, the financial services site launched in September by former Prudential director Adrian Daly. A number of other Irish sites focus on just providing insurance on-line, including www.123.ie which offer instant insurance quotes and www.getcover.com which focuses on travel insurance.
This sector of the business-to-consumer (B2C) industry remains buoyant. Bank of Ireland subsidiary Bristol & West paid STG26m just a few weeks ago for a personal finance Web site called Moneyextra.com in the UK.
The site cost IEP1.2 million to launch and a further IEP500,000 would be spent on advertising over the next three months. Visitors to the site will be able to research, compare and apply for loans, mortgages, insurance, credit cards, life assurance, pensions, savings and investments. They can also search for products tailored to their personal circumstances and complete on-line applications for services provided by a number of Finance2u.com partners.
The site also has a news section, a stockbroking section supplied by Davy's, a glossary and a range of calculators.
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