July 29, 2008

Mansion's owners move into online banking

The owners of online gaming company Mansion have launched an independent online bank aimed at gaming enthusiasts.

FSA-regulated Ivobank will provide its customers in the UK, Ireland, Canada and Spain with instant transfers, competitive rates of interest and a virtual debit card.

Ivobank’s managing director Timothy Sawyer said the online bank aimed to fill a gap in the online gaming market.

”The online gaming industry has developed rapidly in recent years, but the financial services supporting it have not kept pace,” said Sawyer.

”Many online businesses and customers have been ill-served to date, resulting in relatively high costs and relatively low levels of service.”

Gibraltar-based Mansion has suffered a number of setbacks in the past couple of years, including the closure of its sportsbook business and disappointing results from its sponsorship of premiership football club Tottenham Hotspur. But billionaire backer Putra Sampoerna is optimistic about this latest venture, with plans to attract one million customers during the next five years.

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