£1bn Landmark and Anniversary Celebrations for Cascade
A unique Fintech portal company, which is celebrating it’s 5th year as an independent organisation this month, has proven its worth by reaching a significant milestone.
Cascade Cash Management can proudly announce the administration of over £1bn of deposits since its inception in 2012, the majority of which has been administered in the last three years.
Breaking away from its founding company in 2015, the leading savings portal and cash management firm has over the last two financial years been getting results for it’s clients and partners that are 18% above the market average.
This equates to the team at Cascade Cash Management generating returns of an additional £1m+ than if that same £1bn cash had been deposited in other savings options.
MD of Cascade, Dr Emma Black, says that although these seem easy numbers to throw around, the scale of achievement should be given high accolade in the current market.
“£1bn seems an easy number to say, but to understand it’s scale is another thing.
“To put it into scale, the amount our small team has processed is the equivalent of 147,000 UK state pensions, which is no mean feat!
“Our enquiries and new customer sign ups since the outbreak of COVID-19 have increased and we have supported those looking for increased deposit protection on sums that outweigh the protection offered by the Financial Services Compensation Scheme. Those with large chunks of cash are looking to spread it across different banking licences while also getting better returns and peace of mind.”
The online Fintech portal is the only one of its kind in the UK allowing independent and unbiased cash solutions meaning that clients don’t have to choose only one bank. With the online portal and Cascade’s client support team, all banks are accessed quickly and easily, on a daily basis.
The Cascade team administer accounts on behalf of clients and depositors can use the portal to view their own savings in one place. These clients include individuals, companies and charities. Partners including IFA’s, solicitors, attorneys, accountants and many more can also self-brand the product for presentation to their own clients.
A number of charities successfully use the service and such clients have earned significantly greater returns through the Cascade service. Dr Emma Black, who launched the company alongside brother and business partner Stephen Black, continued:
“A mental health charity using Cascade earned an additional £20,800 per year net of all fees on their £2m cash when compared with what they had been earning sat in their current account. Without our portal and excellent customer support, this charity could have missed out on what is to them a really good chunk of money.”
In the last year, Cascade has won an accolade for customer service at the Financial Innovations Award and expanded its team to eleven. The team has also invested in the portal further, so there are more benefits, including increased depositor protection. On the back of this, the company is now ready for its next stage of growth. Dr Emma Black concluded:
“After a large initial financial investment, three years after launching our online portal in 2017, Cascade is now close to profitability, allowing for new investment to be attracted and for future growth to be planned.
“The real beauty is we can now demonstrate the need for our service and our success and capability in delivering brand new financial technology. We intend to build upon this with our selected business partners, passing on in-depth knowledge and superb customer support for those who deposit cash with us.
“We will always continuously strive to be ahead of the market, offer innovative technology growth and invest in steps that mitigate any risk for the customer!”
The company is also delighted to have received its Cyber Essential Plus accreditation from the National Cyber Security Centre, meaning that its internal and online IT systems are considered robust against any form of cyber attack.
This was posted in Bdaily's Members' News section by Anna Toms .