British Internet bank Egg and Microsoft announced an alliance today to offer online financial services to bank customers through the software giant's Microsoft Network (MSN).
The first stage of the alliance will be a fund supermarket in Britain, available via Microsoft's MSN on its MoneyCentral channel, Egg said in a statement.
It did not give any financial details for the alliance.
The fund supermarket will launch in early 2002 after a series of pilot tests this autumn, the statement said.
Detailed plans to extend the relationship with Microsoftfrom funds into other financial products and services, and from Britain into the rest of Europe, were being developed, it said.
"We are delighted that our first steps to establishing an international presence will be taken with Microsoft," Egg chief executive Mr Paul Gratton said in the statement.
Mr Gratton called the deal a powerful partnership, adding: "In just over a year Egg Invest has gone from online funds market maker to market taker."
Egg - which is 70 per cent owned by Prudential - has a customer base of 1.35 million in Britain and reported revenues of euro 151 million in 2000.
AFP