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Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
November 22, 2004 at 07:00 PM
NU Online News Service, Nov. 22, 2004, 4:31 p.m. EST
An Alexandria, Va., startup says it will sell banking services through insurance companies.[@@]
I.B. Services L.L.C. will set up banking Web sites for insurers and get certificates of deposit and other banking products from Affinity Financial Corp., Irvine, Calif., according to I.B. Services Chairman James Coyne.
Coyne, who previously was chief operating officer of an insurer-owned bank, Acacia Federal Savings Bank, Falls Church, Va., says his company recently raised capital to fund the “InBank” business through a private stock offering.
Insurers can appeal to orphaned customers by offering them InBank products, and banking customers should be good candidates for insurance cross sales, Coyne says.
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