A North-East based cash savings company has developed a groundbreaking service that will get companies with cash in the bank more than a little excited, as it offers a cash savings service offering businesses monetary returns like no other in the UK.
Cascade Cash Management (Cascade) is an independent and transparent service created to generate enhanced cash returns and increase protection on deposits through professional cash management.
As the service approached its fifth birthday and more banks slashed interest rates, managing director Dr Emma Black decided that a radical move was needed to help businesses protect and heighten the returns of their hard earned cash.
In response, Cascade has heavily invested in a newly launched unique online portal with accompanying website, with the company adding in excess of £25m of new cash into the service within the first few months alone, prior to launch.
The portal is the only one of its kind in the UK allowing independent and unbiased cash solutions using the companyÕs proprietary algorithm that means the users donÕt have to choose only one bank. With the online portal and CascadeÕs client support team, all banks can be accessed quickly and easily, on a daily basis.
The service is suitable in particular for companies that are cash rich with money sat in the bank, which should be getting returns on their ÔsavingsÕ. Financial directors/controllers can access the online portal directly exporting reports detailing their holdings, particularly useful for reporting to company boards. Any actions such as better rate opportunities or approaching maturities will be notified to ensure the rates remain at the top of the market.
Dr Emma Black explains further: ÒMany companies have Ôrainy dayÕ money and high net worth cash investments of over £250,000 sat in one bank, or in tied in low yielding long term savings accounts. This is such a waste of potential return, with exposure to only one provider unnecessarily increasing risk.
ÒOur portal has individual secure log in details and a comprehensive dataset using our unique optimisation and proprietary technology that can administer bespoke cash portfolios in seconds. It is not just all about good interest rates. Our product means clients can improve the term structure of their cash (from instant access up to five years) while also allowing for them to ensure that they have the desired degree of protection under the Financial Services Compensation Scheme or European equivalents.
ÒThe service has been designed carefully so that power of instruction remains with the client and designated signatories only. This means FDÕs can have peace of mind that their cash savings are directly held with regulated financial institutions, with no money ever passing through Cascade Cash Management. Corporate clients can layer the level of support they desire so that they are as involved as they wish to be.Ó
Cascade has a team of ten experts, headed up by Dr Emma. The central administration support team is based in Newcastle, a hub for the savings administration for many financial institutions but the team cover the whole of the UK.
