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This story was printed from silicon.com, located at http://www.silicon.com/

Story URL: http://www.silicon.com/financialservices/0,3800010322,39313851,00.htm

Comparethemarket moves into mortgages
FS comparison site braves out the downturn

By Julian Goldsmith

Published: Tuesday 14 October 2008

Financial services comparison site comparethemarket.com is expanding its product range to include health insurance, current account and savings account information.

Cheat Sheets

♦ Faster Payments
♦ Basel II
♦ MiFID
♦ Sarbanes-Oxley

Despite the credit crunch, the site will also launch a mortgages section next week.

While the move may seem incongruous with the current commercial climate, comparethemarket.com's commercial director Jeremy Moll told silicon.com the company is taking a long view.

"We are now ready to take advantage of the awareness we've created [around motor insurance]. We know some financial markets are not as buoyant as they once were, but we see it as a long-term position," he said.

The company has entered into a number of white-label agreements, using third party financial service providers but with services presented under the comparethemarket.com branding.

The company's white-label partners are Simply Business (SME services), PMI (health insurance), Motley Fool (loans), Xelector (utilities) and The Idol (travel insurance).

"White-label agreements are a very effective way of getting these products to market swiftly," Moll said.