by Insignis in Announcements
Insignis is based in the heart of the Silicon Fen amongst the growing Cambridge Cluster of technology businesses and were delighted to get significant coverage from the local press during our launch. This article was published by Cambridge News on the day of the launch.
A new Fintech company, Insignis Asset Management, launched today to transform the management of cash savings and deposits. Insignis joins the fast growing high-tech Cambridge Cluster using technology to revolutionise how clients manage cash deposits and maximise return without compromising liquidity and security. The company represents a critical evolution in the sector, harnessing technology to provide a single interface to multiple banking partners via the Insignis Digital Banking Network. The Insignis Digital Banking Network enables clients to deposit cash into a hub account, held in their own name, from where it is electronically distributed to bank accounts that give the best returns. The Network allows individuals, wealth managers, companies, charities and local authorities to cut through what is currently a time consuming process while maximising return on their cash.
Paul Richards, chairman of Insignis Asset Management, said: “The cash deposit industry is experiencing dramatic changes and these present great opportunities for frustrated savers and cash managers. Over nine million individuals hold between £50,000 and £5 million in liquid assets, and corporate and charity cash deposits are at record levels. However, with low interest rates and the tedious process of moving cash between accounts, increasing their return on those assets has been complex and time consuming. That has now changed. Insignis provides a means for savers and investors to freely deposit and move cash between accounts, taking advantage of the best rates available and dramatically increasing their return”.
Giles Hutson, CEO of Insignis Asset Management, said: “There is an extraordinary volume of cash held in inactive and extremely low rate savings and business accounts and it is time for everyone to start looking at cash as an actively managed asset class that can deliver better returns. It is exciting and fitting to make our home in Silicon Fen, among other innovative high-tech businesses, and we look forward to continuing to work within this significant market to build relationships and provide a brand new service for corporations, charities, local authorities and individuals alike.”
Insignis Asset Management promises to provide:
- A solution to the difficulties and frustrations of finding, opening and monitoring multiple bank accounts
- Diversification and improved returns without the hassle of changing current account provider
- A guarantee that cash never leaves the UK banking system and always stays in the client’s name
- A digital platform which enables clients to check balances, make deposits and request withdrawals at their own convenience
- FSCS protection for qualifying clients
- Whole of market access and a broad range of products from instant access accounts to long term savings products to choose from
Read the full article here