The UK’s leading savings management platform, Newcastle Strategic Solutions, has announced it will enhance its savings platform to offer existing clients the option of launching a cash Lifetime ISA product.
Newcastle Strategic Solutions is part of Newcastle Building Society Group and manages savings accounts on behalf of some of the UK’s leading retail savings providers. The move will help bring additional competition to the Lifetime ISA market and ensure its clients can enhance their savings product portfolios.
Lifetime ISAs were introduced in 2017 to help first time buyers saving for a deposit, and for those saving for retirement. They attract a 25% Government bonus on amounts saved each tax year.
Phil Grand, managing director of Newcastle Strategic Solutions, said:
“We’re committed to the continuous improvement of our platform proposition. A number of developments have recently been announced to enhance our agile savings platform, ensuring we offer the best possible customer experience for savers.
“Providing our clients with the option of a Lifetime ISA via our platform will enable them to access a broader range of products and build relationships with a wider range of customers.”
Details of the Lifetime ISA, which is expected to launch in the next few weeks will be available on the website (www.newcastlesolutions.co.uk).
Newcastle Strategic Solutions offers a fully managed, end to end savings service or a flexible systems only solution; from initial on-boarding and launch, through to ongoing account management. The responsive outsourced service is underpinned by an agile savings platform. Constructed through API technologies, it delivers an integrated internet banking platform with automated account opening functionality.
The business continues to invest in its systems to help its partners succeed in a digitalised future and ensure that customers can securely manage their savings online.