Insignis works with Local Authorities to improve returns on their cash, reduce risk and save time. Our local authority clients have multiple responsibilities and need an efficient and transparent cash management solution that saves them having to monitor the market and constantly open and close different savings products. We provide a solution that achieves all these objectives and is unaffected by MiFID II.
A savings product that stays ahead of the market
You’ll benefit from:
Every business needs access to cash savings.
MiFID II affects the way Local Authorities manage their cash and Local Authorities may need to seek alternative solutions to their current cash management providers.
We are happy to engage with local authorities and address questions concerning ‘Eligible Counterparty’ obligation and all other implications of MiFID II for cash management. Need more information? Read the FAQs
Average Interest Rate
The average interest rate for the top 3 banks is 0.01%. The average rate for the top 3 banks on the Insignis Bank panel is 0.8%. That’s 80x the amount you could be earning. *
*Data correct at April 2021.
Get more information on relevant topics and insights on the Fintech and Banking industry that relates to your cash savings.
Local Authorities FAQs
Is your service MiFID II compliant?
Yes. Insignis will be able to work with all local authorities both before and after MiFID II.
What reporting do you offer?
Via the website, you can instantly create a pdf of your portfolio and all transactions in and out of your account. We also provide, via the website, a consolidated interest statement and real time summary of all cash flows for any time period you are interested in. These documents provide a real time and transparent audit history of the account.
It’s a reasonable proposition but it won’t make me enough money to be worth my while?
Providing a solution for your cash gives you far more than a financial reward. Your cash is diversified from a counterparty perspective and can be allocated to provide for your liquidity preferences. We also save you time, and money, by looking after this for you, no more searching best buy tables, trying to keep up with the changes to FSCS protection enforced by mergers and acquisitions, and filling in long and cumbersome application forms.
Why are you different from other Cash Management services which we tried and found too cumbersome?
Cash Solutions from Insignis has been created by a team of people who are well experienced in the cash management space and have learned many lessons from how the market has evolved. We don’t simply complete forms and ask you to do the remaining work yourself. Insignis’ value sits in the banking relationships we have established to complete the process fully with a one signature solution ensuring the entire process is handled by us with our intuitive website keeping you fully informed.
I am interested, what are the next steps?
Simply contact us, we will arrange for a member of the team to visit you at a time and place convenient to you. We propose to complete all necessary documentation in a single session to minimise the time and hassle to all our clients.