All your money under one roof

Your one-stop shop for finding out where your wages went...

Consumers need not waste time logging on to multiple sites to gain information on the various financial services they use due to a new breed of portal which brings all that information together on one site. The system is known as aggregation and brings current accounts, savings accounts, mortgages and even utility bills and air miles together on one personalised website. CitiBank, Money Supermarket and Virgin are all set to launch account aggregation services in the next few months, which will incorporate a wide selection of financial products and services from an array of institutions. Traditional banks seem likely to hold back on launching similar offerings as they prefer to just push their own products rather than make it easier for customers to access information on products they use from rival institutions. Banks may yet have to think about product-based deals, otherwise they will be left behind offering just current accounts, savings accounts and mortgage services. But, Ian Giles, director of international marketing at Corillian, said: "It will be a brave bank that supports a different business model by selling commission-based products."