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Federated delves into online financial services

Cincinnati — Federated Department Stores has launched an online financial services portal that will provide banking, investments, home mortgages, insurance and financial planning tools.

Dubbed, the service is managed by Federated's financial, administrative and credit services division, known as FACS. FACS also manages Federated's proprietary credit card program, which has some 20 million active users, the company said.

"iTrust is a natural extension for Federated," said Terry Gorbach, senior vp for financial services, FACS Group. "We're building on our expertise in providing high-quality/high-value products and services to customers, which includes helping them take better control of their financial lives.

Partners include Ameritrade for investments, PFN Investment Management for financial planning, eHealthInsurance for individual, family and short-term health insurance, FDS Bank for home mortgages, NetBank for FDIC-insured high-interest checking, money market and CD accounts, and Pivot for life, property and casualty insurance.

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