- 25 March 2019 12:51
Cashwerkz adds ADI and wealth management partners to its online cash investment marketplace, reaches new $2 billion funds milestone and launches At Call account offering
Cashwerkz, the leading online platform in Australia uniquely designed for cash investing and wholly-owned by Trustees Australia Limited (ASX: TAU), has announced new ADI partners including Auswide Bank, Bank of us and new financial adviser partner, MartinCo Financial Advisers. These new partners join an online cash marketplace offering a range of cash investment solutions from 41 Authorised Deposit-taking Institutions (ADIs) and easy access for a growing number of wealth management specialists.
Cashwerkz recently hit a new milestone for funds passed through the platform, now reaching $2 billion, as well as a new milestone for cash accounts that remain active on the platform. Cashwerkz today has over $1 billion funds on the platform waiting to mature. Adding new partners has helped Cashwerkz generate sound growth in its ADI partner network numbers over a six month period, with a corresponding 67% increase in funds utilising Cashwerkz platform technology. Hector Ortiz, CEO for Cashwerkz commented, “It’s fantastic to see new partners recognise the benefits of the Cashwerkz platform. Our continued growth in funds on the platform signals investors trust our secure and innovative marketplace.”
“We do not have access to investor’s funds, and this makes Cashwerkz an extremely secure, transparent and efficient solution for cash investing. Our unique automated and streamlined identification process means the Cashwerkz platform is delivering a compelling level of cost-efficiency for our ADI partners, resulting in better returns for the investor, particularly professional investors such as fund managers and custodians,” he concluded.
What our partners are saying:
• “Cashwerkz assists Auswide Bank to extend its reach and diversification to clients across Australia, via competitive digital platform.” Dale Hancock, Group Treasurer at Auswide Bank.
• “Cashwerkz provides more transparent cash investing options for our clients and it ensures we are accessing the most competitive market rates possible. This has not only made a positive impact on our client’s returns, it has streamlined our reporting and administration.” Todd Martin, Financial Adviser, MartinCo Financial Services.
• “Bank of us is pleased to partner with Cashwerkz. As a small Tasmanian customer owned bank, the platform provides us with a cost effective way to compete for short term investments on a national basis – a source of funding that, without the platform, we have not had effective access to before.” Paul Ranson, CEO, Bank of us.
Launch of At Call Account
Cashwerkz has separately announced the launch of a powerful new At Call account option offering up to 2.3% interest for investors. At Call accounts are designed to offer significantly higher market-competitive interest rates. Making an At Call facility available allows investors to continuously benefit from Cashwerkz streamlined automated processes and its unique identity and verification technology.
Initially Cashwerkz will offer an At Call account option from AMP Bank, Auswide Bank, and ME Bank with an additional five ADIs joining the platform in the near future, offering investors even more choice with market competitive At Call offerings.
The Australian-developed Cashwerkz platform provides self-managed super funds, financial advisers, fund managers, the wholesale market, custodians, and industry superannuation funds with the ability to source market competitive interest rates in real-time and then to transact and manage cash on an end-to-end secure platform. The platform does not receive, handle or direct investor’s money: it facilitates the transfer of cash parcels between accounts held and controlled by the investor, their appointed adviser or custodian, via secure automated instructions to relevant parties. There is no fee payable by the investor. Cashwerkz receives a fee from the issuing ADI.
These latest partners join recently announced ADI and wealth providers, Gateway Bank and the Elders Financial Planning Group.
A full list of daily competitive market rates from a wide range of Australia’s leading banks is available on www.cashwerkz.com.au.