Sainsbury’s Bank has formed a partnership with Akoni Hub enabling the British Bank, wholly owned by Sainsbury’s, to offer its products via Akoni.

Akoni Hub is a cash management platform provided to Financial Advisers, wealth managers and wealth platforms on a white label basis for High-Net Worth clients, as well as SMEs and charities. Akoni works with Top 250 IFA and Wealth firms and leading UK investment platforms as well as smaller specialist IFA firms, with its leading API first technology and white label portal.  

The platform  enables clients to manage their cash savings, their desired level of risk and maximise protection either under the FSCS or equivalent, through diversification and includes unique bank ratings through Fitch Implied Credit Scores.

Further growth is being driven by the platform’s adviser benefits including a range of tools providing cash solutions for individuals, businesses as well as cash in SIPPs, under Power of Attorney’s and trusts. This also provides a single point of entry for clients and advisers further enhancing our partners’ intergenerational wealth solutions.

The Financial Adviser zone, Open Banking and Open Finance tools, digital onboarding and 100 percent digital experience enables a fully digital Cash-as-a-service-Solution.

Felicia Meyerowitz Singh, co-founder and CEO at Akoni Hub, added: “We’re delighted to welcome Sainsbury’s Bank to the Akoni Hub platform.This partnership expands the range of attractive savings products available to our clients to provide them with better rates of interest and a reduction in risk, all within one online application.” 

Sainsbury’s Bank is the UK’s first supermarket bank and provides Financial Services to loyal Sainsbury’s and Argos customers, including credit cards, savings and loans, travel money and car, home, pet, travel and life insurance online and by telephone. 

Find out more about Akoni: Akoni is an award-winning UK cash platform, which provides a marketplace to financial advisors and wealth managers through a bespoke white-label offering, or off-the-shelf offering. Akoni uses innovative technology to personalise cash planning solutions for clients, and also provides a full API solution to banks and insurance clients.