Cashwerkz adds ADI and wealth management partners to its online cash investment marketplace, reaches new $2 billion funds milestone and launches At Call account offering
ASX Announcement 22 March 2019
Auswide Bank, Bank of Us and MartinCo Financial Advisers join 41 ADIs and a growing number of wealth management partners to now benefit from Australia’s most trusted, reliable and secure online platform for the seamless management and transaction of Term Deposits
22 March 2019 – Cashwerkz, the leading online platform in Australia uniquely designed for cash investing and wholly-owned by Trustees Australia Limited (ASX: TAU), has announced new ADI partners including Auswide Bank, Bank of Us and new financial adviser partner, MartinCo Financial Advisers. These new partners join an online cash marketplace offering a range of cash investment solutions from 41 Authorised Deposit-taking Institutions (ADIs) and easy access for a growing number of wealth management specialists.
Cashwerkz recently hit a new milestone for funds passed through the platform, now reaching $2 billion, as well as a new milestone for cash accounts that remain active on the platform. Cashwerkz today has over $1 billion funds on the platform waiting to mature.
Active and pass thru funds on platform as at 18th of March 2019
Adding new partners has helped Cashwerkz generate sound growth in its ADI partner network numbers over a six month period, with a corresponding 67% increase in funds utilising Cashwerkz platform technology.
Hector Ortiz, CEO for Trustees Australia Group commented, “It’s fantastic to see new partners recognise the benefits of the Cashwerkz platform. Our continued growth in funds on the platform signals investors trust our secure and innovative marketplace.”
“We do not have access to investor’s funds, and this makes Cashwerkz an extremely secure, transparent and efficient solution for cash investing. Our unique automated and streamlined identification process means the Cashwerkz platform is delivering a compelling level of costefficiency for our ADI partners, resulting in better returns for the investor, particularly professional investors such as fund managers and custodians,” he concluded.
What our partners are saying:
- “Cashwerkz assists Auswide Bank to extend its reach and diversification to clients across Australia, via competitive digital platform.” Dale Hancock, Group Treasurer at Auswide Bank.
- “Cashwerkz provides more transparent cash investing options for our clients and it ensures we are accessing the most competitive market rates possible. This has not only made a positive impact on our client’s returns, it has streamlined our reporting and administration.” Todd Martin, Financial Adviser, MartinCo Financial Services.
- “Bank of Us is pleased to partner with Cashwerkz. As a small Tasmanian customer owned bank, the platform provides us with a cost effective way to compete for short term investments on a national basis – a source of funding that, without the platform, we have not had effective access to before.” Paul Ranson, CEO of Bank of Us.
Launch of At Call Account
Cashwerkz has separately announced the launch of a powerful new At Call account option offering up to 2.3% interest for investors. At Call accounts are designed to offer significantly higher marketcompetitive interest rates. Making an At Call facility available allows investors to continuously benefit from Cashwerkz streamlined automated processes and its unique identity and verification technology.
Initially Cashwerkz will offer an At Call account option from AMP Bank, Auswide Bank, and ME Bank with an additional five ADIs joining the platform in the near future, offering investors even more choice with market competitive At Call offerings.
The Australian-developed Cashwerkz platform provides self-managed super funds, financial advisers, fund managers, the wholesale market, custodians, and industry superannuation funds with the ability to source market competitive interest rates in real-time and then to transact and manage cash on an end-to-end secure platform.
The platform does not receive, handle or direct investor’s money: it facilitates the transfer of cash parcels between accounts held and controlled by the investor, their appointed adviser or custodian, via secure automated instructions to relevant parties. There is no fee payable by the investor. Cashwerkz receives a fee from the issuing ADI.
These latest partners join recently announced ADI and wealth providers, Gateway Bank and the Elders Financial Planning Group.
A full list of daily competitive market rates from a wide range of Australia’s leading banks is available on www.cashwerkz.com.au.
Cashwerkz accelerates active funds on platform to break through billion-dollar benchmark
Cashwerkz is Australia’s leading, reliable and secure online platform for the seamless management and transaction of Term Deposits for self-managed super funds, financial advisers, wholesale, custodians, fund managers and superannuation funds.
Trustees Australia (ASX: TAU) has announced its financial results for the half-year ended 31 December 2018 and update to the business.
1H financial and business highlights:
- Deposit revenue of $620,000 equates to a 29% increase from $480,000 (1HFY18)
- Authorised Deposit-taking Institution partners increased to 41 at 1 March, up 157% from 16 (1HFY18)
- Funds placed (passed through) on the Cashwerkz platform of $1.81 billion as at 28 Feb 2019, up 3,922% from $45 million (1HFY18)
- Funds active (funds that have not yet matured) on the Cashwerkz platform of $1.1 billion, up 67% from $659 million (1HFY19)
- Successful completion of $10 million capital raising
- Expanded operational capabilities with key senior hires across sales, marketing and product development
- Continued investment in technology and innovation generated new efficiencies and solutions for the broader retail, wholesale and institutional financial services sector
- Strong sales pipeline across all segments
- Successful finalist nomination for John Nantes, Director for Thought Leader of the Year - Fintech Business Awards 2019.
According to Hector Ortiz, CEO of Trustees Australia Group:
“The last six months of 2018 we achieved several significant milestones for Cashwerkz. Our successful $10 million capital raising is the foundation for our positive sales pipeline and is proof we are delivering on our commitments to shareholders. Our strong marketing expertise and product innovation coupled with listening to the institutional customer segment, are key to driving major uplift to the value of funds active on the platform. This is evidenced by the closer alignment of 41 ADIs and investors in the rapid ramp up of funds that have been placed on the platform. Investors trust our secure and innovative marketplace because we never access the funds being invested.
CASHWERKZ UPDATE - TAU ASX RELEASE
ASX Announcement 29 January 2019
VALUE OF TERM DEPOSITS USING CASHWERKZ PLATFORM REACHES $1.5 BILLION
- Cashwerkz platform reaches new $1.5 billion cash investment milestone for retail and institutional investors
- Cashwerkz platform welcomes new APRA-regulated ADI and wealth management partners to existing suite
- Sales, operations and development teams expand and plan to launch new ‘At-Call’ account product in response to continued growth
29 January 2019: Cashwerkz, the leading online platform in Australia uniquely designed for cash investing and wholly-owned by Trustees Australia Limited (ASX: TAU), today announces cash invested using its term deposit platform has reached $1.5 billion. The platform had previously reached in excess of $1 billion on 26 October 2018 - ahead of its end-of-October 2018 forecast of $900 million.
Cashwerkz is Australia’s most trusted, reliable and secure online platform for the seamless management and transaction of Term Deposits. It is developed in Australia and exceeds all industry and regulatory prudential regulation requirements. Its highly innovative automated workflow processes means Cashwerkz never accesses the funds being invested, ensuring the highest level of security for investors.
“This milestone has capped off a fantastic period of growth on the Cashwerkz platform,” said Hector Ortiz, Group CEO for Trustees Australia. “By adding new APRA-regulated ADI and wealth management partners onto the platform and ensuring our re-investment levels with current investors remain in strong demand, the Cashwerkz platform continues to surpass forecasts. We now have around 2,000 registered entities and nearly 40 banks trusting we can continue to deliver industry-leading efficiency levels, highlighting the potential for revenue growth in coming months.”
The Australian-developed Cashwerkz platform provides self-managed super funds, fund managers, the wholesale market, custodians, and major superannuation funds with the ability to source market competitive interest rates in real-time and then to transact and manage cash allocations on an end-toend secure platform. The platform does not receive, handle or direct investor’s money: it simply facilitates the transfer of cash parcels between accounts held and controlled by the investor, their appointed adviser or custodian, via automated instructions to relevant parties. There is no fee payable by the investor. Cashwerkz receives a fee from the issuing ADI.
Additional highlights include:
Growth in operational capability: The Cashwerkz institutional sales team has expanded with the addition of Juliet Shirbin. As an Institutional Relationship Manager, Juliet will be responsible for engaging with the financial institution market. With a strong pedigree of international and Australian financial services experience, Juliet will contribute to the company’s growing footprint in the institutional investor space.
Group Head of Marketing for the Trustees Australia suite of brands, including Cashwerkz and Rim Securities will now be headed by Katherine Sadler, who brings two decades of global financial services experience with her to this role.
New ADI and wealth partners: Recent additions to the APRA-regulated ADI partner suite include Gateway Bank and Bank of us, whilst Elders Financial Planning joins the ever growing network of wealth management partners on the platform.
Continued investment in product development: Recent additions to the Cashwerkz product development team headcount and ongoing research investment levels will ensure the development of the most innovative, Australian-owned online platform for cash investing. The current product road-map will continue to streamline the platform’s workflow efficiencies, secure order handling and audit trails. Slated for launch in 2019 includes a new product offering for ‘At-call’ accounts, which will significantly change the way stockbrokers, institutions and advisers manage their ‘At-Call’ money for their clients.
Hector Ortiz concluded: “The majority of Cashwerkz platform users continue to reinvest cash via the Cashwerkz platform. We find this inspiring. The Cashwerkz platform is now accepted as a highly transparent, efficient cash investment tool delivering more choice for all parties than ever before. We are very proud that our commitment to innovation and this first-to-market approach is being recognised and appreciated across broad sections of the financial services community.”
