Kaldi has announced its partnership with WealthKernel in order to enable customers to turn everyday cashback into investments.
Following this announcement, the collaboration will allow Kaldi to leverage WealthKernel’s core infrastructure services, including onboarding, custody, and trading API, in order to power their platform.
In addition, the company will also have the possibility to make use of the GIA, ISA, and SIPP account wrappers and offer a full suite of account wrappers to its customers. Both institutions will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
More information on the Kaldi x WealthKernel partnership
According to the official press release, the initiative will enable investments to be embedded much earlier in the customer journey, as Kaldi recognises that wealth and savings habits are strongly connected to checkout behaviours, and that clients can make purchases without penalty to their financial goals. At the same time, this will also be beneficial for businesses, as these models will help them move beyond one-off purchases and increase their wallet share over time.
Furthermore, a new research launched by Santander UK has revealed that there are significant gaps in the understanding of money management. Out of 2,000 people surveyed, 79% have never created a budget, while 76% have never paid a bill, and 77% have not set aside funds for unexpected expenses. In addition, just one in four reported receiving any financial education at school, a process that left several individuals without essential financial literacy.
With this in mind, Kaldi aims to address this issue by simplifying how money works. Through its platform, users and clients will have the possibility to automatically invest or save their cashback rewards, making wealth-building more accessible, jargon-free, and secure.