February 7, 2006

The Abbey National has said that it will start its own credit card in the UK, which means breaking away from its current credit card provider, MBNA.

Due to the agreement with MBNA Europe, all existing Abbey Nation, amounting to 1.2 million, will continue to be operated by MBNA to ensure there is no immediate impact on current Abbey National customers.

This move by The Abbey National is the latest upheaval since it was taken over by Spanish bank, Santander, and comes after a strategic review of the performance of Abbey National.

Abbey has already established a new team to oversee the introduction of their own in house. The new credit card product will run on Santander's efficient in-house IT system, Partenon.

BookMark