Cascade Cash Management (Cascade), has today announced an important expansion of its service, opening up the company’s proprietary portal and its savings data to millions of savers here in the UK.
Named as the Most Innovative FinTech Company of 2020, Cascade is the leading, award-winning, professional cash management company delivering an independent and transparent savings service designed to generate enhanced cash returns and increased depositor protection.
The portal, which is the only one of its kind in the UK, has previously been accessible only for high net worth individuals with cash of over £250,000.
From today, in a bid to create a more sustainable approach and attitude to savings in the UK, the company is ready to open out their offering to balances of over £100,000, with new services launched for those with less than £100,000 too.
The forward-thinking team has released opportunities for savers with less that £100,000 to benefit from the data collected, creating a holistic approach via a Cascade Savers Community.
By joining as a member for just £5 per month, those who wish to make the most of their savings can receive in-boxed data with the country’s current saving rates and links to enable them to move their own money manually outside of the Cascade portal.
Within the portal, Cascade allows independent and unbiased cash solutions for a range of client types meaning savers don’t have to choose only one bank, with all institutions accessed quickly and easily, daily. The service is the only one of its kind that tracks every bank and building society in the market – this data affords clients the best possible outcome from cash.
Dr Emma Black, MD, said:
“Having worked hard for the last nine years to perfect the portal, and having administered over £1bn cash, we are now completing our seed funding round that is allowing us to open up all of our hard work to date to help millions more UK savers get the very best from their cash. This reduced cash limit will apply to individuals, companies, charities and to our 103 partner’s and 3,000 advisors and their clients too.”
The Cascade team help clients complete onboarding paperwork for each bank and building society selected for savers over £100,000. Savers can then use the online portal to view their savings in one convenient place, with the dedicated support of Cascade personnel. Clients include individuals, companies and charities. Partners of the service include IFA’s, solicitors, attorneys and accountants, many who self-brand the product for presentation to their own clients.
Many companies with cash funds currently make use of Cascade’s services creating meaningful impact, with some clients earning up to £30,000 extra a year, whilst also enjoying increased depositor protection as the use of the portal affords savers increased depositor protection on sums that outweigh the protection offered by the Financial Services Compensation Scheme.
Dr Emma Black concluded:
“As a purpose-led organisation we aim to do well financially and to do good as part of the community we serve. We know the impact this extra money has for our clients, which is significant in making a real difference day-by-day.
“To be able to open the offering up so that many other savers can benefit too is exactly why we founded the service. Above £100,000 we help our clients to navigate multiple account openings with multiple banking providers.
“Below £100,000 our job is to help people maximise the return on their cash through accessing regular information that allows them to see the best rates available on any given day. Providing members with this information so that they can make their own transactions outside of the portal is a great step forward in our holistic approach so that we can help everyone with cash.”
The company is poised for its next stage of growth including further investment to build out the savings platform, which will include digitalising the onboarding process and the creation of a data analytical portal complementing the existing offering. This data, which examines and illustrates the behaviour of savers in detail on a monthly basis, can now be shared with banking and money institutions who sign up to Cascade’s Data and Knowledge Sharing Partnerships.
This coming year will also see Cascade’s journey into regulatory permissions including obtaining its AISP and PISP certification as the service continues to expand. The company received its Cyber Essential Plus re-accreditation from the National Cyber Security Centre in December 2020, meaning internal and online IT systems are considered robust against any form of cyber attack.