Cash Savings Strategy Group

Industry challenge

Cash Savings in UK total over £2 trillion and play an important part of any household’s savings strategy. However, work is needed to ensure appropriate governance is in place and regulatory barriers are addressed to increase financial resilience and member outcomes.

Group purpose

• To identify changes to the cash savings framework and the creation of strategic recommendations that improve consumer access and outcomes.

Areas of focus include:

• Regulation of Embedded Savings propositions/Deposit Aggregators
• Removing the barriers to workplace saving propositions
• Consider ways which improve consumer outcomes – circa £280 billion of savings earn no interest at all

AJ Bell

Akoni Hub

Allfunds Bank

AlRayan Bank

Arbuthnot Latham & Co Ltd

Aviva

Barclays

Blackrock

Bondsmith

Castle Trust Capital Plc

Clydesdale Bank

Commsave Credit Union

Coventry Building Society

Cynergy Bank

Danske Bank

Digital Moneybox Ltd

Hampshire Trust Bank

Hargreaves Lansdown

HSBC

ICICI Bank UK PLC

Interactive Investor

L&G

Meteor Asset Management Limited

Monument Bank

Monzo Bank

Norton Rose Fulbright

Oaknorth Bank

One Savings

Plum Fintech

Progressive Building Society

Raisin

RBS

Secure Trust

Shawbrook Bank Ltd

Skipton Building Society

Tandem

Trading 212

Renny Biggins,
Head of Policy: Products & Long-Term Savings leads on this work

Co Chairs: Aman Rai, Hargreaves Lansdown and James Howgego, Raisin Platforms Ltd

Deputy Chair: Rajat Mehta, Secure Trust Bank

Publications

News