NatWest pays £144mn for stake in savings fintech Cushon

British banking group NatWest has made a strategic move by acquiring an 85% stake in Cushon, a UK-based workplace savings fintech, for a whopping £144mn. This acquisition will enable NatWest to provide a new range of financial wellbeing services to its commercial mid-market clients, offering a suite of innovative products including a workplace ISA, master trust pension, and junior and lifetime ISAs, as well as a general investment account.

What sets Cushon apart is its sustainability strategy that focuses on reducing carbon emissions. As part of its commitment to sustainability, NatWest aims to reach net zero by 2050 and halve the impact of its financing activity by 2030. By acquiring Cushon, NatWest gains access to the fintech's net zero pension product, which allows consumers to take control of the impact of their investments, helping them make a positive change in workplace savings and pensions while also fighting climate change.

Cushon's user-friendly mobile app makes it easy for users to manage their finances and take control of their investments, making it a valuable asset for NatWest as it expands its suite of services. The acquisition will have a significant impact on British savers, who on average are due to outlive their savings by 10 years, according to Peter Flavel, Chief Executive of NatWest's wealth businesses.

Alison Rose, Chief Executive Officer of NatWest Group, believes that the acquisition will allow the bank to enhance its services to commercial customers and support the financial wellbeing of their staff. By combining NatWest Group's scale, experience, and expertise with Cushon's innovative products, the acquisition will help bridge the savings gap and provide a valuable employee benefit.

This acquisition marks an exciting new chapter for both companies, as they join forces to drive positive change in workplace savings and pensions. Cushon's cutting-edge technology and socially responsible investment funds will allow even more UK savers to benefit from a convenient, great value way to save while also understanding the positive impact their life-long savings can have on issues that matter, such as climate change.

Thursday, 07 December 2023
Default Image
November 04, 2023

Мощь Гидропривода: передовая технология для эффективного управления механизмами

in Банки by Admin
Гидропривод - это механическая система, которая использует жидкость (чаще всего масло) для передачи энергии и управления движением различных механизмов. Гидроприводы широко применяются в различных областях инженерии и промышленности, а также в автомобильной и…
Default Image
October 21, 2023

Recovering a Forgotten Password for Your Cryptocurrency Wallet: A Step-by-Step Guide

in Crypto by Admin
Losing access to your cryptocurrency wallet due to a forgotten password can be a nightmare. It's like misplacing the key to your digital treasure chest. But fear not, there are steps you can take to recover your password and regain access to your funds. In…
Default Image
Oct 21, 2023 444

San Diego Movers: Transforming Relocation into a New Adventure

Relocating is a significant event in everyone's life. It can be prompted by various…
Default Image
Oct 19, 2023 407

ISPmanager: Your Partner in Web Infrastructure Management

ISPmanager is a web hosting control panel designed to simplify the administration of web…
Default Image
Sep 23, 2023 1648

Leveraging Electronic Medical Records (EMR): Transforming the Landscape of Healthcare

Electronic Medical Records (EMR) systems have ushered in a profound revolution in the…
Default Image
Sep 12, 2023 442

Bitcoin Mixers: Unveiling the Art of Anonymizing Cryptocurrency Transactions

In the world of cryptocurrency, privacy is a double-edged sword. While the transparency…