NatWest Group acquires majority shareholding in Cushon

Thursday 23 February 2023

Following Cushon’s acquisition of Workers Pension Trust in June 2021, we are pleased to announce a significant further development with the acquisition of a majority shareholding in Cushon by NatWest Group which is subject to regulatory approval.

Cushon manages £1.8bn of assets on behalf of over half a million customers. As part of a large and well-known banking group, Cushon will be able to accelerate its plans for technology-led innovation in pensions, savings and investments.

Workplace pensions, savings and investments have yet to see any significant disruption from technology companies or mobile apps. Cushon has been on a mission to change this and believes that financially confident and emotionally engaged customers will actively participate in their pension and savings futures – creating better value for employers and better outcomes for savers.

Through its innovative technology, and high standard of customer service, Cushon aims to connect people with their savings and investments and engage them by showing the positive impact their money can have on issues such as climate change, challenging today’s status quo of too many people being excluded from life-long savings or sleepwalking their way into retirement.

Ben Pollard, Cushon’s Founder and CEO, says: “This is the next exciting chapter for a great British fintech as we join forces with a great British bank. Becoming part of NatWest Group will accelerate our plans for further technology-led innovation to improve the UK's financial wellbeing. Together, we look forward to driving more positive change in workplace savings and pensions. Cushon’s cutting edge technology and socially responsible investment funds will allow even more UK savers to benefit from a convenient, great value way to save; and understand the positive impact their life-long savings can have on issues that matter, such as climate change.”

We look forward to sharing more about this exciting development in the months to come and how we expect this to benefit employers and our members.

Read more: https://www.cushon.co.uk/blog/a-great-british-fintech-joins-forces-with-a-great-british-bank

Thursday 23 February 2023