Helping Customers Build Financial Security
Gone are the days where you grew up banking with your parents’ bank, and there you stayed, regardless of the service or product offering. Customers are now far more comfortable with the prospect of spreading their banking across multiple banks and fintechs to get the products and services they want. And the ability to save with ease is one of the biggest challenges for most people.
In today’s challenging financial landscape, offering products that make it easy for customers to plan and save are essential. With the cost-of-living crisis hitting hard, putting money aside can feel out of reach for many. But with the right technology in place, it is possible to help everyone save. While not everyone has the option of putting lump sums aside in high-interest accounts, most can start with something much simpler: making saving effortless.
Historically, banks found it too expensive to support the needs of those with low balances and certainly did not have the products in place to help them save. In fact, SaaScada was created to address this issue, with the goal of making it possible to offer feature-rich banking products to all.
By harnessing cloud-native core banking to create more flexible products, banks can help people at all stages of life to save, especially those who need it most. Micro-savings are a great way to support customers who are struggling to save against the backdrop of a rapidly rising cost of living.
Take the 1p savings challenge, for example. It starts small, literally. Save 1p on day one, 2p on day two, 3p on day three, and so on. It doesn’t sound like much, but by the end of the year, that’s. £667.95 stashed away. That’s the power of consistent micro-savings. It’s simple, painless, and surprisingly effective. In a world where budgeting can feel overwhelming, the key might be doing less but doing it more often. With the right tools and nudges, saving can become second nature.
The need is urgent. Around one in six UK adults (16%) have no savings at all, and 23% have less than £200 to fall back on. According to the Resolution Foundation, more than 11 million working-age adults live in households with savings under £1,000. For a huge number of people, even a modest cash reserve could be life-changing.
Creative and Effortless Ways to Save
Let’s explore how intelligent micro-saving strategies are helping people feel more in control of their finances and how SaaScada enables this through flexible wallets and functionality.
The 1p Challenge – Starting small works. The daily habit builds momentum, and that final total represents more than just a number, it’s proof that small, regular actions compound significantly.
Round-Ups – Spent £2.40 on coffee? The system rounds it up to £3 and saves the extra 60p automatically. Spare change finds new purpose.
Rainy Day Funds – Automatically setting aside 1% of every payday or expense builds a safety net in the background, ready when unexpected costs arise.
Automated Micro-Savings – Instead of stressing over when to save, schedule it. A daily £1 transfer into a savings pot generates £365 annually.
Gamified Saving – Applications now use streaks, challenges, and incentives to make saving engaging. Saving feels more like achievement and less like sacrifice.
Why Small Steps Matter
For many people, especially those on low or unpredictable incomes, the idea of saving can feel out of reach. Traditional financial tools expect large deposits or regular contributions, but life isn’t always that tidy. That’s why these smaller, smarter strategies are so powerful. They remove the pressure and turn saving into a background habit. The psychological boost that comes from watching a pot grow, even slowly, can help build financial confidence and reduce money-related stress.
How SaaScada Empowers Smarter Savings
This is where SaaScada comes in. SaaScada’s cloud-native core banking platform is designed to support financial institutions that want to do more for their customers without adding cost.With SaaScada, banks and financial institutions can offer dynamic savings pots that are automatically topped up through roundups, scheduled transfers, or income triggers, and because it all happens in real-time, users always have a clear view of their financial progress.
SaaScada makes it easy to set up as many pots as needed without extra charges. Whether it’s a holiday fund, an emergency stash, or a ‘treat jar’, money can be allocated automatically. You can even have direct debits taken from different pots, helping users to budget more effectively without constant micromanagement. Every person’s financial journey is different. SaaScada allows financial providers to create personalised, secure savings experiences that truly reflect how people live, spend, and save.
Financial Inclusion, Powered by Technology
Saving is often a luxury. For those living payday to payday, traditional banking just doesn’t cut it. But by providing micro-saving tools, flexible pots, and automated features, financial institutions can make it possible for anyone can start building financial security.
With SaaScada, building financial security doesn’t have to be difficult or expensive. Whether it’s empowering people to save small amounts, enabling budgeting, multi-generational banking or designing hyper-personalised banking experiences, SaaScada is changing the way financial institutions serve their customers.
Struggling to provide flexible financial solutions for your customers? Working alongside existing tech, we make it possible to deliver banking products and services to suit all types of customers without the need for a big bang migration or big price tag.
Contact us to find out how.
