Sun Life is to launch its UK banking arm, Sun Bank, as an internet
bank and has appointed the new-media consultancy Precedent to create the
Sun Bank online will be a multimillion-pound investment for the
Canadian-owned financial services group which has had a presence in the
UK for around 100 years.
The investment will see it challenge established online banks such as
the Co-op’s Smile, E-first and Egg.
Sun appointed Precedent to handle the development of Sun Bank online
following a competitive pitch against Entranet and Grey Interactive.
Sun Bank has been established in the UK since 1989, offering mortgages
and other products.
It already has a web presence but is now to launch as a fully fledged
Precedent will be responsible for creating the bank’s brand positioning
and development, both on- and offline, as well as the design and build
of the website.
Paul Hoskins, the managing director of Precedent, said: ’The internet
allows small banks open access to a market where they don’t already have
a high street presence. Sun Bank sees itself being able to challenge the
big players online. It will make a multimillion-pound investment to
build this brand.’