Shawbrook Powers Hargreaves Lansdown’s First Branded Savings Product

Shawbrook has partnered with Hargreaves Lansdown (HL) to deliver its first branded savings product, launched through the HL Cash ISA. The collaboration highlights Shawbrook’s growing role as the specialist banking partner of choice for financial platforms, combining deep expertise with agile technology to co-create new savings and lending products at pace.

Shawbrook’s platform capability allows partners like HL to diversify their propositions, automate key processes, and scale new offerings quickly and reliably. By integrating with Shawbrook’s infrastructure and expertise, HL can maintain full control of product design while their customers’ deposits are fully FSCS protected.

Paul Went, Managing Director of Retail at Shawbrook, said: “This launch is a clear example of how Shawbrook works with leading financial platforms, like Hargreaves Lansdown, to turn innovative ideas into live products – quickly.  HL customers love and trust the brand and platform, through which they can now also benefit from Shawbrook’s expertise in savings and FSCS protection over their deposits.

Our technology and flexible infrastructure, combined with specialist market knowledge, enable partners to deliver advanced propositions and brilliant experiences for their customers in both the deposit and lending markets. We’ve built a model designed for collaboration – agile, scalable, and reliable – which is why organisations like HL continue to choose Shawbrook to power their growth.”

Mark Hicks, Head of Active Savings at Hargreaves Lansdown, added: “Our new branded savings product offers clients a consistently competitive rate, guaranteed never to pay less than base rate –65bp. Partnering with Shawbrook allows us to deliver this proposition with confidence, ensuring our clients benefit from a trusted bank alongside the innovation of our platform.”

The partnership reflects Shawbrook’s broader strategy of enabling non-bank financial institutions and fintechs to innovate faster, deliver at scale, and expand customer choice through technology-led collaboration.

How the HL branded savings product works

• Client deposits are held with Shawbrook, ensuring FSCS protection up to £85,000.
• HL sets the interest rate paid to clients, allowing a consistently competitive rate.
• The product remains continuously available on the HL platform, enabling additional functionality such as a regular saver feature.
• Shawbrook provides a fixed funding rate to HL, who then determines the client-facing rate.
• The underlying rate is linked to Bank of England base rate, guaranteeing the product never pays less than base rate – 65bp.