Enba, the Dublin-based holding company for Internet banking services, has established its first offshoot enterprise which will allow European consumers research, evaluate and buy retail financial services products online. Called Xelector, it currently employs 30 people at Enba's Dublin offices.

Xelector was devised by Dr Gerhard Huber, Enba chief executive. Xelector's products will initially be launched in Britain and will include non-life insurance, mortgages and credit cards. It is expected the service will be expanded to major European countries next year. Xelector will design the products, and offer them to portals and destination sites on the Internet, to sell under their own brand labels.