New tech platform allows charities to boost interest income » Charity Digital News

New tech platform allows charities to boost interest income


Flagstone Investment Management has plans to shake up the £2.1 trillion cash deposit market with a new online platform that will allow charities and corporates to increase their interest income by providing instant access to the best rates on hundreds of cash deposit accounts without having to go each bank individually.

The service is set to revolutionise the cash management space by offering clients the ability to efficiently access the rates of a wide range of leading onshore and offshore banks, with a combination of instant access, notice and term deposit accounts available in multiple currencies all on the one platform.

Flagstone’s platform frees users from having to complete new documentation every time they want to move their money between banks, allowing them to move quickly from one account to another. This makes it much easier to manage and diversify their cash exposure while ensuring it continues to meet specific return, risk and liquidity requirements.

Andrew Thatcher, Managing Partner at Flagstone, said: “With around £2 trillion of cash in the UK – much of it earning significantly less than market leading rates – we believe a step-change is needed in the way cash is managed. Quite simply, our technology platform allows our clients to maximise the interest paid on their cash while simultaneously managing risk. We believe that we offer a compelling solution in a world in which charities, corporates and high net worth individuals want a secure, efficient technology solution to manage their cash deposits.”

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