We’re delighted to announce that our latest figures show that impulseSave®, our world-first investment top-up technology, which enables people to invest as little as £1 at the push of a button, has seen an 850% increase in monthly investment since launching last year.
We’re confident that more than £50m, from over 10,000 clients, will be invested in ISAs, Pensions and General Investment Accounts via impulseSave® in 2015.
Our impulseSave® figures shows that:
- 68% of impulseSave® top-ups have been invested into ISAs, compared to 26% for General Investment Accounts and 6% into Pensions
- ISA top-ups soared by 259% in the weeks leading up to the new tax year on April 6th
- Pension top-ups saw a 689% rise in March compared to February
Almost a third of the investments made were £10 or under, funds that might not have otherwise been set aside through traditional saving options. We believe this is evidence that, with the right technology, spenders can become savers, and more and more people can get in the habit of saving.
Managing Partner, David Harrison, said: “Getting into debt is worryingly simple, while saving for the longer term can be an incredibly complex and inaccessible process. impulseSave® means savers can now top-up their investments easily and reach their goals faster. Our figures suggest that it has had a considerable impact on encouraging people to put money aside for later life.
“The amount of money that is being impulse saved has been steadily increasing in recent months as savers took full advantage of their ISA allowance. To simplify the process, we introduced an option that enables savers to max their ISA with just one click and that has proved to be popular.
“As more and more people switch on to the benefits of this new way of saving, we expect investment activity and the number of users on the platform to grow exponentially in the year ahead.”
Your capital is at risk. Investments can fluctuate in value and you may not get back the amount you invest. Past performance is not a guide to future performance. Tax rules can change at any time.