Warranty Direct: low price guaranteed

Warranty Direct, a leading UK extended warranty provider, has gone on the offensive in the run-up to the Christmas shopping season. Its survey highlights that the time is ripe for direct insurance providers to make their presence known. Consumer apathy is the biggest hurdle to overcome, but Warranty Direct is in a good position to do exactly that.

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Virgin: rebranding for growth

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Virgin Money: gambling on monthly account fees

Virgin Money has broken rank with the rest of the banking industry by opting to charge a monthly fee to all its current account customers when it launches banking facilities later this year. Although this could act as a catalyst for other banks to move to a fee-based model, it is a high-risk strategy that is likely to deter a large proportion of potential applicants.

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Virgin Money rocks the banking world

The UK government has confirmed that Virgin Money will buy Northern Rock, with the sale due to be completed at the beginning of 2012. This will create a new entrant with the potential to contend with the largest players almost overnight. However, the amalgamation of the two providers will not be without obstacles as customers from both sides start to witness change.

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Vanquis Bank: testing the credit limit

After a two-year pilot project, Vanquis Bank has launched a new sub-prime Visa credit card targeted at people with a low income or history of bad debts. The card can charge APRs up to 69.5%. Unsurprisingly, it has been attacked by consumer groups; however, Vanquis is certainly not the first and will not be the last issuer to target this underdeveloped market.

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Upfront rewards will attract more savers in today's climate

Santander's new savings product offers an iPad upfront rather than interest payments. This will appeal to consumers as it caters to their demand for instant gratification, and may prompt other providers to consider similar strategies.

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Unsecured loans: 18% will be online in the UK by 2006

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Universal Banking Services: helping the unbalanced

Following the launch of Universal Banking Services this week, people claiming state benefits must hold a bank or Post Office account. The scheme has been criticized because people with a Post Office account will still have to visit the Post Office to collect their cash. However, this criterion of the scheme is actually one of its strong points.<BR />

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Unicredito: gaining momentum isn't always good

Unicredito is understood to have made an approach to the London-based hedge fund manager. But a bid might not be a good idea. Due to the combined risk of brand contamination and the departure of key staff, acquisition in alternative investments can be a dangerous game. Outsourcing should be a much better route to success.

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UK: smaller current account providers are the most successful at producing satisfied customers

The largest players in the UK current account market are lagging behind smaller players on overall customer satisfaction, according to Datamonitor's FSCI survey. Satisfaction is a critical factor in both the retention and acquisition of consumers, making this an important issue as the Independent Commission on Banking makes easier current account switching a priority.

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