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Co-operative Financial Services Limited is a Co-operative Society providing financial services within the United Kingdom. It is a wholly owned subsidiary of The Co-operative Group which is the largest consumer co-operative and sixth-largest food retailer in the UK. It is mainly known through its to main subsidiaries of The Co-operative Bank (incorporating Smile, the first full internet bank) and The Co-operative Insurance. The Society was formed in 2002 to bring The Co-operative Group's two financial subsidiaries together under one umbrella Society to enable synergies to be exploited between the businesses and widen the customer base for each operation. In 2007 the group agreed to outsource its Information Systems to Xansa.
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