Technology and financial services firm True Potential LLP has been announced as one of just five UK-headquartered firms to be invited to showcase their technology at FinovateFall 2014, and one of 70 companies to have made it through the rigorous selection process.
The Newcastle-upon-Tyne-based company will be heading to New York City to demonstrate its first-of-a-kind ‘top-up’ technology, impulseSave® at the prestigious event which highlights the latest and greatest in banking and financial technology, running from 23-24 September 2014.
The UK is facing a savings crisis like never before, with people failing to save enough for a comfortable retirement. True Potential’s approach is to make saving and investing more accessible and a simple part of everyday life. impulseSave® provides a glimpse into the future of financial services, making investing on-the-go, using technology, a reality.
For the first time, savers can make small payments directly into investments at the touch of a button with sums of as little as £1. Built completely in-house, the technology is set to change the way people save, creating a culture of ‘impulse saving’. It is now as easy to invest as it is to make purchases online.
Daniel Harrison, managing partner at True Potential Investments commented: “As a technology-led company that is guided by our desire to deliver services that are simple, effective and unique, impulseSave® was a natural next step for True Potential.
“We have been through a rigorous selection process – True Potential is just one of just five UK-headquartered companies to be presenting at the conference – and are delighted to have the opportunity to showcase our technology on a worldwide platform.
“The idea behind impulseSave® is that savers can make small lifestyle changes to keep their investments on track or grow their money faster. For example, instead of purchasing a coffee each morning or making an impulse purchase, small sums can be added to investments using a smart phone or tablet device, on-the-go.
“Until now, if someone had £10 or less to spare they would be unlikely to invest this due to the amount of effort required. We believe this is the future of investing and we are proud to be able to offer this to our clients first.
“We have only seven minutes to demonstrate our technology to the audience. Fortunately, that’s more than enough time to top-up an investment with impulseSave®.”
impulseSave® is part of True Potential Investor – a recently launched self-directed investment service, which can be accessed online and via mobile devices (www.tpinvestor.com). The investments ‘top-up’ technology is also available on True Potential’s award-winning Wealth Platform, which is used by over 22 per cent of financial advisers and more than 32,000 clients across the UK. Due to multi-platform support, clients can purchase and track their investments against their goals 24/7 from anywhere in the world.
“FinovateFall 2014 is part of the Finovate series of conferences. Eric Mattson, Finovate CEO added: “It is great to have True Potential on board to demo its innovative technology for changing the way people save. Helping people to save money is a critical area for innovation in FinTech and True Potential’s impulseSave® has exciting potential.”
Commenting on impulseSave®, financial technology expert Ian McKenna from the Finance & Technology Research Centre (F&TRC) said: “Enabling impulse savings has been the holy grail for many in the digital finance market. impulseSave® is the first system that I’m aware of to allow small ‘top-up’ payments into investments. Previous micro-payments have focused on cash deposits, but this new service allows actual investments with small amounts of money. The system is very easy to use and is good news for savers.”
The opportunity to showcase its technology is another reward for True Potential’s hard work and passion for innovation, the same qualities that saw the firm make the Deloitte Fast 500 EMEA list in 2013.
To find out more about FinovateFall 2014 or to attend the conference, please visit http://finovate.com/.