Tagged: savings

UK Adults Focused on Savings Despite Many Having Less than £1K in Bank Accounts – Report

Gatehouse Bank, the Shariah-compliant challenger bank, has released new research demonstrating that the UK’s money mindset is shifting towards saving. The research looked at UK adults’ attitudes towards money, “assessing the key factors that influence them, why they look to save or spend their money… Read More

UK Financial Conduct Authority (FCA) to Analyse Savings Products Offered to Consumers

The UK Financial Conduct Authority (FCA) has announced it will analyze “lenders’ fair value assessments” to determine if they are providing consumers with appropriate savings products. Earlier this year, the FCA commented on the spread between what banks receive in interest rate returns and what… Read More

UK’s LHV Bank Expands into Personal Savings via New Partnership

LHV Bank, the UK’s newest licenced bank, announces a new partnership with the online savings platform Raisin UK. This move marks LHV Bank‘s first step into the personal savings market “ahead of the planned launch of its direct-to-consumer savings offering in 2024.” Erki Kilu, CEO… Read More

Vestwell, a Small Business Retirement Provider, to Power Maine Retirement Investment Trust

Vestwell, a small business retirement provider and individual savings platform, today announced it will power the Maine Retirement Investment Trust (MERIT), the newest state-facilitated retirement program in the country. MERIT is designed as a state automatic IRA savings program “available to businesses in Maine.” MERIT… Read More

UK’s Smart Pension, a Workplace Pension Provider, Selects Punter Southall’s Pension Potential Annuity Comparison Tool

Smart Pension, which claims to be one of the UK’s leading workplace pension providers, has selected Punter Southall’s Pension Potential annuity comparison tool “to help its million-plus members maximise their retirement savings and make informed decisions about researching, comparing and buying annuities.” Smart Pension, which… Read More

UK’s PensionBee Reports Increase in Pension Contributions, As Withdrawals Fall from 2022 to 2023

Pension savers have reportedly “contributed over 20% more to their pensions in Q2 2023 compared to the same period last year, despite persistent levels of high inflation,” according to new analysis from online pension provider, PensionBee. The average quarterly contribution amount “for female savers increased… Read More

Savings Platform Vestwell to Acquire Gradifi Solutions, a Provider of Workplace Education Solutions

Vestwell, the savings platform for small businesses and individuals, announced it has entered into an agreement to acquire Gradifi Solutions, a student loan benefits provider. The acquisition adds several new products “to the Vestwell platform, including programs to help employees manage and pay down student… Read More

UK’s Workplace Pension Provider, Smart Pension, Signs Mansion House Compact

Smart Pension, which claims to be one of the UK’s leading workplace pension providers, signs the Mansion House Compact, an industry-led voluntary expression of intent to take meaningful action to secure better outcomes for UK savers through increased investment in unlisted equities. By signing the… Read More

Furness Building Society to Enhance Savings Offering with Backbase-powered Digital Platform

Furness Building Society (FBS), the member-owned building society, announced that it has partnered with Backbase, the global Engagement Banking Platform provider, to develop its new digital savings platform. As a member-owned building society, FBS prioritizes its members’ needs above all else. In the next three… Read More

UK FCA Chastises Banks for Low Deposit Rates, Meanwhile Wise Trounces Banks with Higher Savings Rates

The UK Financial Conduct Authority (FCA) has commented on the rate spread between what banks are receiving in interest rate returns and what they are giving their deposit holders.  The regulator said in a studied, underwhelming tone that the “decision-making has been slow” for banks… Read More

UK’s PensionBee Shares Insights on How Retirement Savings Are Impacted by Providing Unpaid Care

Two-in-three people are likely to take time out “to provide unpaid care at some point during their working life,” according to a new report from online pension provider, PensionBee. The Carer’s Pension Gap report highlights “the extent of unpaid care in the UK and how… Read More

Berlin-based Fintech Savings Platform SaveBetter Rebrands as Raisin

The final phase of a multi-stage process is now complete, and online savings platform SaveBetter has officially rebranded as Raisin. This change comes as the Berlin-headquartered Fintech platform “streamlines its identity across all markets to capitalize on brand awareness.” Globally, Raisin operates “as a free… Read More

UK Fintech Freetrade, the Builder of an App for Consumers’ Life Savings, Raises £1.76M+ via Crowdcube

Freetrade, which claims it is building the home screen app for your life savings, has raised 176% (£1,764,417.20) of its £1,000,000 target (from 3194 investors with 3 days left in the sale at the time of writing) through its crowdfunding campaign, carried out via Crowdcube…. Read More

401(K) Provider Human Interest Offers 3% Cash Back for Retirement

Human Interest, which claims to be one of the “largest” and “fastest-growing” 401(k) providers in the country, says it is the first “to offer a 3% cash back reward to participants who start saving for retirement.” The incentive is “available to all eligible participants on… Read More

European Fintech Bitpanda Improves Savings Strategies with High-Yield Returns, 24/7 Availability for EUR, GBP, USD

Bitpanda Cash Plus is described as a new way for the community “to earn 2.57% yield and even more on their cash, and another big step towards our goal of simplifying wealth creation for everyone.” As explained in a blog post, Bitpanda Cash Plus claims… Read More

UK’s PensionBee Adopts ViaNova Open Transfer Standards for Pension Consolidation

PensionBee, an online pension provider, has made it possible for more savers to move their pensions quickly and efficiently with the adoption of an additional transfer service. ViaNova is “an industry working group that sets consistent open standards across fund providers, pension providers and platforms… Read More

Neobank M1 Now Offers 5% Interest in Savings Accounts

In a promotional push as banks and Fintechs rush to offer high-yield savings accounts, neobank M1 has announced an account that offers 5% interest for users that have an M1 Plus membership. If you do not have a membership account, holders may earn a mere… Read More

UK Savers Prioritize their Pensions Amid Rising Cost of Living, PensionBee Analysis Reveals

Analysis from online pension provider, PensionBee, reveals that pension savers put significantly more money “aside for their retirement at the start of 2023 than they did in the latter part of 2022, despite persistent levels of high inflation.” The average quarterly contribution amount “for female… Read More

Goldman Sachs: Digital Bank Marcus Moves to Match Apple Savings Interest Rate

Goldman Sachs (NYSE:GS) provides much of the magic behind Apple’s (NASDAQ:AAPL) Fintech ventures. Not too long ago, Apple announced its anticipated saving plan, offering consumers an APY of 4.15% – higher than many banking firms. While few details are available on the success of Apple… Read More

Fintech Apps: Super.com Finalizes $85M Series C to Grow Savings Super App

Super.com, the savings super app company, announces its Series C fundraising round, which closed at $85M, “led by Inovia Capital, significantly increasing the valuation of the company since its March 2021 Series B raise.” Super.com CEO Hussein Fazal said: “Super.com’s diversified business model now drives… Read More

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