Industry News - November, 2007

Consumers are attracted to mortgage products if it is marketed with a low headline interest rate, it has been revealed.

Some 74 per cent of consumers have been found to neglect the overall costs of products in favour of low interest rates, research by moneysupermarket.com shows.

Around 60 per cent of homeowners were found to have chosen their last mortgage using a price comparison tool, emphasising the marketing potential of a low interest rate on a mortgage product.

C... more...

Three-quarters of financial firms' advertising on websites met standard requirements, according to the Financial Services Authority (FSA) review.

The FSA has stepped up its supervision of internet-based promotions following widespread failings in 2005 and 2006 reviews.

However, of the 130 firms' websites under examination in the review, 53 failed to meet promotional requirements.

The FSA found that some companies' websites had navigation difficulties and had failed to ... more...

ITV is set to move into the online financial services sector with the launch of a price comparison site, it has been revealed.

It is hoped the website, which will allow users to compare prices of products that appear on the TV channel, will eventually be accessible through the interactive menu on TV ads, reports Brand Republic.

Although it is still in early development, ITV will no doubt be hoping to capitalise on the rise in online price comparison site usage among consumers.<... more...

Marketers in the Financial Services industry are estimating that it could see sales growth of at least six per cent next year.

According a survey conducted by the Chartered Institute of Marketing, 55 per cent of marketers in the industry are confident of achieving this level of growth.

This is in stark contrast to other sectors, with only 22 per cent of retail and charity marketers expect the same performance and some 18 per cent of retail marketers even expecting sales to fall... more...

The Royal Bank of Scotland (RBS) has launched an Affordable Affluence Index to promote its new Private Banking Service.

Dual launches of RBS' private banking and Affordable Affluence Index are intended to dispel the myth that private banking services are the preserve of the super-rich.

Harry Keogh, managing director of Private Banking at RBS, explained: "Research shows that there is likely to be extensive growth in the number of people earning around £100,000." more...

Consumers tolerate online marketing as long as they have access to free content, it has been revealed.

According to research by law firm Olswang, some two-thirds of respondents said they tolerate intrusive online advertising if the content on the website is free.

This follows a survey by In-Stat that predicts around 16 million US viewers could switch from using paid-for TV to using their broadband connection, reports Broadband TV News.

Matthew Phillips, a media, commun... more...

British Telecom (BT) is set to further expand its financial services products, it has been revealed.

BT first made its move into the financial services market in July with the launch of the BT credit card through MBNA bank, offering financial incentives such as money off phone bills.

The UK firm is now set to launch Radianz Services in the United Arab Emirates (UAE) in partnership with incumbent telecoms provider Etisalat.

Initially, services will be offered to UEA BT ... more...

A new broadband TV channel with the intention of providing direct marketing updates, tips and advice has been set up by the Direct Marketing Association (DMA).

Launched in collaboration with online broadband TV website MarketingSuccess.tv, the new website will be free access and will no doubt aspire to the sites intention to "inspire, instruct and advise".

DMA director of marketing and business development, Mike Barnes, told Precision Marketing that it was an opportun... more...