What is a cash savings platform? A guide for UK businesses

Every business with cash reserves faces the same task: decide where that cash sits, how it's protected, and how to make it earn a strong return.  

Done well, that means spreading deposits across enough institutions to stay within protection limits, keeping track of maturities and rates across however many accounts that takes, and reinvesting often rather than letting cash sit idle when rates move.  

For many businesses with busy founders or operators, cash can easily become concentrated with one bank, earning whatever that bank happens to offer and reviewed only when someone has time.

Our research showed that can be an expensive habit: the average UK business holds £2.21 million in cash, much of it concentrated with a single bank and earning far less than it could. In fact, the average business surveyed was missing out on £42,000 in extra interest each year.

This is typically because managing cash effectively across several institutions manually is resource intensive. Business cash savings platforms are built to solve that problem.

This guide explains what a cash savings platform is, why UK businesses need one, and how to choose the platform for your business’ needs.

Disclaimer: While we’re here to help, the contents of this article are for informational purposes only. They do not constitute financial advice. For that, you should consult your accountant or a qualified independent financial adviser.

What is a cash savings platform?

A cash savings platform allows you to access savings accounts from multiple banks through a single application.

Sometimes called cash management platforms, savings platforms are used by businesses, charities, trustee, and individuals to spread deposits across multiple savings products on one platform.  Using a savings platform also helps organisations and individuals to keep a close eye on the interest earned whilst monitoring FSCS coverage (where eligible). Many accountants and advisers also use cash savings platforms to help their clients manage and increase returns on their cash.  

How are cash savings platforms different from cash and treasury management tools?

Cash and treasury management tools are designed to help companies manage and monitor their financial resources.  

• Cash management platforms help with the day-to-day operations of the business, managing cash balances, making payments, and forecasting cash flow.  

Read more about cash management for businesses.

• Treasury management tools are broader. They often include cash management, as well as investment management, funding strategies, working capital management, risk management (including foreign exchange and interest rate risk), and capital structure.  
  

Read more about treasury management for businesses.

Savings platforms are designed to complement, not replace, treasury and cash management tools.

Why do UK businesses need a cash savings platform?  

Managing business cash across multiple banks and building societies has traditionally required significant administrative effort. Each new account means another application, another set of login credentials, and another statement to reconcile. For finance teams already stretched thin, this burden often leads to inertia.

Our research, a survey of 500 senior finance and business leaders, revealed the material impact this has on UK businesses:

• Protection: One in three businesses with multiple banking relationships holds over £1 million at their primary bank alone. That’s more than eight times the FSCS limit and leaves any cash over £120,000 exposed.  

• Returns: The average business holds £2.21 million in cash, earning an average of 1.61% against a conservative market rate of 3.5%. This equates to roughly £42,000 a year in missed additional interest.

• Admin: Senior finance leaders spend 4.5 hours a week managing banking relationships. That’s more than five working weeks a year that could be spent on higher value work.  

A well-designed savings platform solves the problems. With Insignis, for example, you can access savings accounts from 55+ banks and building societies, allowing you to view your balances, place new deposits, and track maturities from one place, freeing up time for higher-value activities.

Find out more about Insignis works here.

How to choose a cash savings platform

Not all platforms are built the same way. Here are some points worth checking to help you find the right platform for your business’ needs:

- System integration. Check compatibility with your existing accounting software, ERP system, or treasury management tools. Poor integration is a common source of manual reconciliation work and duplicated data entry.  

- Reporting and governance. Look for consolidated reporting that gives a clear, audit-ready view of your cash position across accounts or entities, and dual authorisation (requiring two people to approve a transaction) where that reflects your business's approval workflow.

- Multi-currency support. Relevant if your business holds or transacts in currencies beyond sterling.

- Support model. UK-based support matters for anything beyond a straightforward setup, including trusts, powers of attorney, or multi-entity group structures.

- Panel size and mix. A wider panel of banks and building societies means more choice and more scope to diversify across separate banking licences. A mix of high-street banks and building societies also gives more flexibility where an investment policy specifies minimum credit ratings.

Top savings platforms for 2026

Insignis

Insignis is an award-winning savings platform that gives businesses access to savings accounts across 55+ UK banks, so your cash works harder while remaining accessible when you need it. Businesses using Insignis also benefit from downloadable statements,, maturity reminders, and a UK-based client services team.

Banking panel: 55+

Minimum deposit: £100,000, for clients referred by an adviser the minimum deposit is £50,000.  

Fees: Platform fee of 0.1% to 0.25%. Insignis does not get paid by banks at all which means it can remain completely impartial when recommending savings accounts.

How it works:

• Complete an Insignis application form to open a business account.

• Deposit cash and choose from hundreds of savings products and accounts.  

• Place, withdraw, and reinvest funds.  

Flagstone

Banking panel: 65

Minimum deposit: £100,000 for companies

Fees: Flagstone takes a share of up to 0.30% of the interest paid on each account, deducted before the rate is listed on the platform — the rate shown is the rate you receive.  

Akoni  

Banking panel: 20+

Minimum deposit: Not publicly disclosed

Fees: A deposit fee of up to 0.25%, plus a further deduction of up to 0.20% from the gross interest paid by partner banks before it reaches you.  

Bondsmith

Banking panel: Not public

Minimum deposit: £100,000

Fees: Bondsmith takes a share of the interest from the bank, deducted before the account is made available on the platform, so the rate shown is the rate received.

Use this article to see the latest rates available across providers.

Who should use a business cash savings platform?

Businesses of all sizes can benefit from cash savings platforms, though the priority shifts with scale. For SMEs, it's typically about agility, building a safety net, and maintaining liquidity without the overhead of managing multiple banking relationships manually. For larger businesses, it's more often about putting growing cash reserves to work, and avoiding concentration risk, instead of letting funds sit idle in one account.  

Both share the same underlying goal: treating cash as a strategic asset rather than something reviewed only when there's time.

Cash savings platforms add real value for:

• Mid-sized and growing businesses with £100,000 or more in reserves, where diversifying across several banks improves both FSCS protection and the rate earned on cash that would otherwise sit in one low-interest account.

• Charities and trusts, which carry a fiduciary duty to manage funds prudently. Diversification and audit-ready reporting that you get with a savings platform supports that duty directly.

What risks should you consider?

As with any financial product, it's worth understanding how a cash savings platform works in a few specific scenarios before you get started.

• Platform vs. bank insolvency. Deposits sit with the underlying regulated banks, not the platform. If a platform became insolvent, deposits would remain with those banks, the protection that matters is at the bank level, not the platform.

• FSCS claims timeframe. If an underlying bank fails when you are using a savings platform the FSCS pays eligible claims as soon as possible, usually within three months, which is longer than the timescale sometimes quoted for money held directly with a bank.

• Transfer timing. Moving funds between the hub account and partner banks typically takes at least one business day at each step, longer over weekends or bank holidays. Plan reinvestments ahead of maturity dates to avoid cash sitting uninvested.

• Rate changes. Partner banks can reprice or withdraw products without notice, so a rate seen today may not be available when funds are placed. A wide panel gives some cushion as other options are usually available, but the specific rate or product you wanted may no longer be on offer.

Increase returns on your business cash savings with Insignis

Insignis has been helping business clients manage their corporate cash since 2017. It gives businesses access to competitive rates across a wide range of business savings accounts, with 55+ UK-based banks and building societies to choose from, helping businesses gain control and visibility over their cash while diversifying to optimise FSCS protection (subject to eligibility).

The platform consolidates interest earned across all accounts into one report, simplifying tax reporting and compliance. Insignis also offers multi-currency accounts in sterling, US dollars and euros, dual authorisation for business and charity accounts, and a UK-based support team. In 2025, Insignis clients earned over £250 million in interest on their cash holdings.

Find out more here.