Intelligent Finance (IF) is an offset bank operating in the United Kingdom, a division of Bank of Scotland plc which is part of Lloyds Banking Group. It was established as a division of Halifax plc in 2000 by Jim Spowart, who helped establish other direct financial services firms including Direct Line. Following a reorganisation of the HBOS group, it is now a division of Bank of Scotland plc. IF's registered headquarters are in Edinburgh, with customer service operations based around Scotland (Livingston, West Lothian and Rosyth, Fife).

IF was set up at a time when many banks were exploring opportunities to utilise new technology to reduce the costs of providing financial services. IF established what it marketed as "intelligent" products whereby customer pick a combination of all or some of a range of bank accounts including current account, savings account, mortgage and credit card. The credit balance in a person's current account and saving accounts would "offset" any debit balances in the person's mortgage and credit card accounts. The customer would then pay interest on the net balance, potentially allowing savings to be made on borrowings. However in June 2005 IF withdrew its offset credit card, citing high running costs.

Although the bank was hit by technical problems at its launch, it quickly gained a significant market share in the mortgage and current account markets.

In July 2009, Intelligent Finance withdrew its mortgage and current account products to new customers, although existing customers were unaffected.

Intelligent Finance sponsors the Scottish First Division football team Livingston FC. From 2006 to 2008 it sponsored the if.comedies award, successor to the Perrier Comedy Award, at the Edinburgh Fringe.

[edit] External links

• Intelligent Finance homepage

v • d • e Lloyds Banking Group Banking: Bank of Scotland · Cheltenham and Gloucester · Halifax · Intelligent Finance · Birmingham Midshires · Sainsbury's Bank · St. James's Place Bank · Banco Halifax Hispania · Bank of Scotland International · Halifax Ireland · Bank of Scotland (Netherlands) · Lloyds TSB · Lloyds TSB Scotland · Scottish Widows Bank Insurance: Scottish Widows · esure · First Alternative · Clerical Medical · rightmove.co.uk · The Mortgage Business · Sheilas' Wheels Wholesale: Lloyds TSB Asset Finance  · Blackhorse Historical: Trustee Savings Banks Act 1985 · Lloyds TSB Act 1998 · HBOS Group Reorganisation Act 2006 Annual Group Revenue: £19.6 billion GBP · Employees: 66,800 · Stock Symbol: LSE: LLOY · NYSE: LYG Website: www.lloydsbankinggroup.com

v • d • e Bank chains in the United Kingdom Commercial Allied Irish Banks Allied Irish Bank · First Trust Bank Bank of Ireland Bank of Ireland · Bristol & West Barclays plc Barclays Bank Citigroup Egg The Co-operative Group The Co-operative Bank · Smile  · Britannia Danske Bank Northern Bank Dresdner Bank private banking: Kleinwort Benson Grupo Santander Abbey · Alliance & Leicester · Bradford & Bingley · Cahoot private banking: Cater Allen Private Bank HSBC First Direct · HFC Bank · HSBC Bank Lloyds Banking Group Bank of Scotland · Birmingham Midshires · Cheltenham & Gloucester · Halifax · Intelligent Finance · Lloyds TSB partnership Sainsbury's Bank National Australia Bank Group Clydesdale Bank · Yorkshire Bank Royal Bank of Scotland Group National Westminster Bank · Royal Bank of Scotland · Ulster Bank private banking: Adam and Company · Child & Co. · Coutts & Co. · Drummonds Bank Salvation Army Reliance Bank Tesco Tesco Bank Independent Airdrie Savings Bank · Anglo Irish Bank · Close Brothers Group · Handelsbanken · Islamic Bank of Britain · Julian Hodge Bank · Standard Chartered Bank Private banks Arbuthnot Latham & Co · Butterfield Private Bank · C. Hoare & Co · Duncan Lawrie · Harrods Bank · N M Rothschild & Sons · Raphaels Bank State-owned UK Financial Investments Limited National Savings and Investments · Bradford & Bingley (mortgage assets only) · Northern Rock The bank groups marked in pink indicate the UK's big four banks.

v • d • e Banks of Scotland Adam and Company · Airdrie Savings Bank · Bank of Scotland · Clydesdale Bank · Halifax · Intelligent Finance · Lloyds TSB Scotland · Royal Bank of Scotland · Tesco Personal Finance

This Scotland-related article is a stub. You can help Wikipedia by expanding it. v • d • e

This United Kingdom bank or insurance-related article is a stub. You can help Wikipedia by expanding it. v • d • e