SmartSave Bank teams up with cash deposit platform Flagstone

22o February 2023

SmartSave Bank, the savings brand of UK digital bank Chetwood Financial, has today announced a new partnership with Flagstone, the UK’s leading cash deposit platform.

Flagstone is the UK’s largest smart cash platform for corporate, charitable and individual clients. It offers a choice of banks and accounts, allowing customers to compare, manage and move deposits with ease to maximise returns and minimise risks.

Under the new partnership, SmartSave will make its market-leading fixed-rate accounts available to Flagstone clients while scaling up its deposit-raising activities via Flagstone’s broad distribution channels.

Designed alongside customers who told Chetwood that they wanted a simple way to save, SmartSave allows users to open and manage their account entirely online and earn interest from day one, with absolute transparency about when their term is ending.

Deposits made with SmartSave through the Flagstone platform can be opened and funded at the click of a button and are protected by the Financial Services Compensation Scheme up to a maximum of £85,000, providing customers with complete simplicity and peace of mind.

Andy Mielczarek, CEO and Founder of SmartSave, a Chetwood Financial company: "We are thrilled to be offering our market-leading SmartSave accounts through the Flagstone platform. In the current climate, where inflation is high and interest rates are still rising, ensuring that customers have access to competitively priced savings products that help them do more with their money is vital.

“We look forward to giving more people the opportunity to grow their savings, as well as making the most of Flagstone’s broad range of distribution channels to grow our own deposit base.”

Mark Hicks, Head of Bank Partnerships at Flagstone, said: “We are delighted that SmartSave have become the latest partner to join our platform. Flagstone has access to a wide range of distribution channels, and we look forward to utilising these channels to help SmartSave grow their deposit base.”

About SmartSave Bank:
SmartSave was created by UK digital bank, Chetwood Financial, to offer customers market-leading rates and a simple way to save.

Together, SmartSave and Chetwood are focused on serving distinct customer segments that are currently underserved by the market, with innovative products designed specifically for their needs. They do this through consumer led brands, using a business model that is focused on keeping costs low, with state-of-the-art, cloud-based technology and digital distribution partners.

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