Breaking News
Plum Launches Lifetime ISA to Help People Save for Their First Home
Smart money app Plum is launching a Cash Lifetime ISA today, designed to help customers put money aside for their first home or retirement.
The Plum Lifetime ISA, which is FSCS protected, offers an interest rate of 4.61% AER (variable), including a 1-year bonus of 1% AER (variable), as well as the Government bonus of 25%. This allows savers to build up their funds more quickly to give them the best chance of reaching their goals.
Buying a house is a key milestone for many people, but the cost of buying in the UK has skyrocketed. First time buyers now need, on average, a deposit of £60,000 for their first home and with the cost of living having increased substantially over the last few years, savers need extra support as they plan for this major goal.
To help with this, Lifetime ISAs were launched by the UK Government in 2017 to give savers a boost when putting money aside for a first home or retirement, within the ISA tax wrapper.
Now Plum is bringing this product to its UK customer base, with the intention of offering Plum customers a range of holistic options for growing their money over the long-term.
Plum CEO and founder Victor Trokoudes comments: “With the continued popularity of our Cash ISA since launch, it has become clear that many of our customers are keen to keep their money within a tax-wrapper and benefit from high interest rates. We’ll be bringing the benefits of ISAs to a new audience with the launch of our Lifetime ISA, which is designed to reward savers for having a goal and keeping up the habit consistently over time.”
“By offering a Lifetime ISA along with our other money management products, we’re giving our customers a brilliant opportunity to boost their stash and grow their money for life. High interest, paired with tax benefits and the Government bonus, ensures that the returns from money set aside into the Lifetime ISA can give customers the opportunity to grow their cash over time. This should help them along the way to reach their key life goals, such as buying their first home, or saving for retirement”.
Plum’s Lifetime ISA will sit alongside the app’s other popular money management products, including a Cash ISA, Stocks & Shares ISA, and General Investment Account with stocks. The app now has more than 2m customers across Europe and holds over £2bn in assets under administration.
People In This Post
Companies In This Post
- What Are Some Emerging Trends in APAC? | FF News at Money20/20 Asia 2025 Read more
- EXCLUSIVE: “Private Banking for All” – Hylton Kallner, Discovery Bank in ‘The Fintech Magazine’ Read more
- Temenos Strengthens Product Leadership With Key Appointments Read more
- ACI Worldwide Recognized as Leading Provider of Fraud Orchestration Solutions by Datos Insights Read more
- Four in Ten British Businesses Would Adopt Open Banking for Increased Security Benefits, but Are Held Back by Lack of Understanding Read more
Norli Liv & Pension Modernizes Investment Operations with Clearwater Analytics
Clearwater Analytics (NYSE: CWAN), the most comprehensive technology platform for investment management, today announced that Danish pension provider, Norli Liv & Pension, part of the Norli group, has partnered with Clearwater to modernize its investment accounting, reporting and compliance operations.
Glia Named a 2025 Best Place to Work in Fintech by American Banker for Fourth Consecutive Year
Glia, the leader in AI for customer interactions, has been named among the 2025 Best Places to Work in Financial Technology by American Banker — for the fourth consecutive year.
Sagic Partners With Smart Money People to Strengthen Customer Feedback Approach
Smart Money People, the UK’s most comprehensive financial service review site, has announced a partnership with The Salvation Army General Insurance Corporation (Sagic), an ethical general insurance provider with a 116-year heritage.
Endava and AlixPartners Announce Partnership to Accelerate Digital Transformation
Endava, the technology-driven business transformation group whose AI-native approach combines cutting edge technology with deep industry expertise, and global consulting firm, AlixPartners, today announced their strategic partnership aimed at delivering comprehensive, end-to-end technology-driven solutions for clients globally. This partnership between Endava and AlixPartners leverages complementary strengths to deliver innovative solutions, accelerate digital transformation and address complex client challenges. It combines AlixPartners’ extensive experience in industry-focused, operational consulting with Endava’s deep technical expertise – in AI, cloud adoption, data analytics and more – to ensure seamless project delivery. This approach allows businesses to move faster, reduce risk, and address challenges more effectively, all while staying focused on their broader goals.
Clearstead Expands Partnership With GLASfunds to Enhance its ClearAccess Private Markets Investment Platform
Clearstead, a large financial advisory firm serving wealthy families and institutions; and GLASfunds, an alternative investment platform for financial advisors; today announced significant enhancements to Clearstead’s private market investments platform ‘ClearAccess.’
Rich Data Co Becomes RDC.AI, Marking a New Era in Business and Commercial Credit Decisioning
Leading provider of AI-driven credit decisioning solutions Rich Data Co (RDC) today announced its rebrand to RDC.AI, marking a significant milestone in the company's evolution and commitment to leveraging artificial intelligence (AI) to transform business and commercial lending.
Four in Ten British Businesses Would Adopt Open Banking for Increased Security Benefits, but Are Held Back by Lack of Understanding
42% of British businesses are keen to integrate open banking into their operations citing the potential benefits of increased security and fraud prevention. This comes as a study by Payit, NatWest’s open banking payment solution, found that one in five (22%) businesses spend more than 6 hours per month managing and storing sensitive customer information, such as card details. And with open banking solutions, they could use this time to build and grow their business.
What Are Some Emerging Trends in APAC? | FF News at Money20/20 Asia 2025
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
EXCLUSIVE: “Private Banking for All” – Hylton Kallner, Discovery Bank in ‘The Fintech Magazine’
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Temenos Strengthens Product Leadership With Key Appointments
Temenos (SIX: TEMN), a global leader in banking technology, today announced it has strengthened its product leadership team with two strategic appointments. Rohit Chauhan joins as Chief Technology Officer (CTO), and Eugene Khmelevsky joins as Global Head of Architecture and Data. The two executives, based out of the U.S., report to Barb Morgan, Temenos’ Chief Product and Technology Officer, highlighting the company’s strategic investment in talent to accelerate growth and innovation.
ACI Worldwide Recognized as Leading Provider of Fraud Orchestration Solutions by Datos Insights
ACI Worldwide (NASDAQ: ACIW), an original innovator in global payments technology, has been recognized among leading solutions providers in Datos Insights’ latest report on the fraud orchestration solutions market, Beyond Point Solutions: Orchestrating the Future of Fraud Prevention.
Four in Ten British Businesses Would Adopt Open Banking for Increased Security Benefits, but Are Held Back by Lack of Understanding
42% of British businesses are keen to integrate open banking into their operations citing the potential benefits of increased security and fraud prevention. This comes as a study by Payit, NatWest’s open banking payment solution, found that one in five (22%) businesses spend more than 6 hours per month managing and storing sensitive customer information, such as card details. And with open banking solutions, they could use this time to build and grow their business.
AAA Life Insurance Company Selects One Inc’s PremiumPay® to Support Digital Payment Processing
One Inc, the leading digital payments network for the insurance industry, today announced that AAA Life Insurance Company (AAA Life) has selected its PremiumPay® solution to support the company’s digital payment processing capabilities. AAA Life will use PremiumPay as its primary platform for digital payment processing, offering policyholders a wider range of flexible, secure payment options while streamlining internal processing.
More People Have Bank Accounts but One in Ten Have No Cash Savings, FCA Survey Reveals
The Financial Conduct Authority (FCA) has found that one in ten people have no cash savings at all, and another 21% have less than £1,000 to draw on in an emergency. The regulator’s research also shows that one in four people in the UK have low financial resilience, meaning that they have missed payments, are struggling to keep up with commitments, or don’t have savings to help them through difficulties.