Flagstone, a fintech savings platform, has achieved a significant milestone, surpassing £10bn of inflows. The platform’s assets under administration have been increasing at a rate of more than £1bn per quarter. This remarkable growth has been driven by the platform’s ability to offer savers access to multiple savings accounts from 59 UK banks.
Expanding Customer Base
Since its launch in 2015, Flagstone has attracted over 600,000 customers in the UK. Initially targeting individual savers, the platform has expanded rapidly through strategic partnerships with leading wealth management firms such as St James’s Place, Saga, and Revolut.
Fintech Revolutionizing Savings
The prevailing high inflation environment has prompted consumers to seek better interest rates on their cash savings. Traditional methods of researching, comparing, and switching between savings accounts across multiple providers are time-consuming, effort-intensive, and often costly. Flagstone has leveraged fintech to provide consumers with the flexibility, visibility, and ease they expect in other aspects of their daily lives.
Simon Merchant, co-founder and CEO of Flagstone, highlights the importance of making rainy day funds, mortgage deposits, and children’s university nest-eggs work harder. By applying fintech solutions, Flagstone empowers individuals to optimize their savings and maximize their returns.