Posted on July 5, 2019 by staff

London FinTech Flagstone secures deal with Nationwide


London-based FinTech firm Flagstone has secured a partnership with Nationwide Building Society to offer new products.

The building society is the 35th deposit taker to join the FinTech firm’s cash platform in a deal designed to open up a number of new savings products for Flagstone customers.

From 4 July, Flagstone’s clients will have access to four Nationwide savings products; an instant access account and 45-day, 95-day and 125-day notice accounts.

Launched in 2013, the firm is now the cash deposit platform provider to UK wealth managers including Quilter Cheviot, St. James’s Place and Tilney Group.

As well as providing access to exclusive rates, the platform also enables individuals, SMEs and charities to manage their risk and maximise their FSCS protection through diversification.

“We are thrilled that Nationwide have decided to join the Flagstone platform and enter into an agreement of this type for the first time,” said Andrew Thatcher, co-founder and co-managing partner at Flagstone.

“Being able to partner with a business that has the quality and heritage of Nationwide is testament to not only our growth but also the hard work of the teams on both sides who have worked closely together to ensure that clients will have even greater choice and flexibility when looking for competitively priced savings products.

“We look forward to a long and fruitful relationship with Nationwide and welcome them in joining the other UK high street banks who have contracted to our platform this year.”

Darren Bailey, Head of Business Savings at Nationwide added: “We are delighted to be offering Nationwide’s Business Savings products on the Flagstone Platform.

“Flagstone customers will now be able to benefit from both Nationwide’s broad range of competitive products and the peace of mind that comes with depositing with the world’s largest building society.”