Karteek Patel speaks with Finextra about Crowdstacker’s new savings platform

“There are several issues with the savings market at the moment, not least the loyalty penalty which is unfavourable to people who don’t actively manage their cash savings,” explains Karteek Patel, CEO of Crowdstacker, the financial platform behind Kepe.

“Also the FCA’s 2018 report ‘Price Discrimination in the Cash Savings Market’ identifies people’s apparent unwillingness to switch accounts as one of the main reasons why they are losing money on their cash savings and cash ISAs,” Karteek continues.

“And it goes so far as to suggest providers are capitalising on this by offering the lowest rates to the longest standing customers.”