Cushon, the sustainability focused workplace saving, investments and pension provider, has launched a new, enhanced version of its app in partnership with leading impact-focused fintech Tumelo.
By integrating with Tumelo’s [Voting API/technology], Cushon’s app now allows users to ‘vote’ and have a say on key environmental, social and governance (ESG) resolutions taking place at the companies in which their money is invested.
Increasingly, savers want a way of measuring whether their ISA and pension investments are doing good things or bad things for the environment and society – for example in areas such as climate change, gender equality, human rights or animal welfare. Recent research from Cushon shows that over 62% of pension members want a say on how companies their pension is invested in are run, with this figure increasing among under 25s (70%).
As sustainability trailblazers, Tumelo’s software will support Cushon by giving its members the opportunity to ensure their investments reflect their values.
Savers will get a voice because they are, through the funds they invest in, indirect shareholders. The brand-new feature in the Cushon app, powered by Tumelo’s technology, allows users to select ESG issues that matter most to them and the app will automatically monitor for votes related to those issues at AGMs. The app then alerts savers to up-and-coming shareholder proposals that relate to their interests, giving them a chance to have their say.
All savers’ vote preferences will be collated by Tumelo and fed to the fund manager (the person who manages these investments) who will then put the official (legal) vote forward on investors’ behalf at the AGM. The overall voting results are also shared with users once the vote is closed so people can see the difference their investments and fund manager votes are making.
Ben Pollard CEO of Cushon said: “A growing number of investors are starting to demand a more active role in their investments. They want good returns but not at the expense of the environment. And although our research shows massive demand amongst younger investors with seven in ten under 25s wanting a say in how businesses they invest in are run, it’s high across all age groups.”
“In particular, people are extremely concerned about climate change and other issues affecting the planet, and they want action. To help tackle this issue, we’ve recently launched the world’s first Net Zero Now pension and so allowing investors to have a say in wider ESG issues, including climate change, is a logical step forward for us. In partnership with Tumelo, we’ve been able to create an easy and engaging app-based solution.”
Georgia Stewart, CEO of Tumelo said: “We are delighted to partner with Cushon – a brand with values and mission that are very much aligned with those of Tumelo and offer Cushon’s customers a voice in how the businesses they invest in are run. Tumelo’s platform is changing the way people view and interact with their investments. It’s no longer just a matter of investment returns - people are starting to understand that their investments can be a powerful force for good and they can have a say, through their fund managers, in some of the key issues such as climate change, gender equality and human rights. Through partnerships with businesses like Cushon, we’re giving investors the opportunity to not only look after their own future but help build a better world for everyone.”
For press enquiries, please contact:
Cushon – Robyn Margetts, Emma Harvey on cushon@seven-consultancy.com
Tumelo - Kerra Pringle on press@tumelo.com
About Cushon
Cushon is a fintech workplace savings business, using its world-leading financial technology to bring innovation to workplace savings and pensions to help people get comfortable with saving and investing.
Employers use Cushon’s workplace savings platform to enhance the financial wellbeing of their workforce, by providing them with a simple and convenient way to save as little as £10 per month, direct from pay.
Cushon currently has 87,000 customers with £390m of assets under management. Its corporate clients include 160 well known blue-chip companies including many of the FTSE 100, plus 3000 smaller employers across the UK.
To find out more please visit http://www.cushon.co.uk/
Follow us:
Twitter: www.twitter.com/wearecushon
LinkedIn: https://www.linkedin.com/company/cushon
About Tumelo
Tumelo is an impact-focused financial technology firm that empowers investment and workplace pension providers by giving their members and customers transparency over the companies they are invested in and a voice on issues that matter, like climate change, human rights, and gender equality.
Tumelo’s solution is delivered via easy to integrate APIs and/or a white-label user-facing platform. The software connects with investment platforms and pension schemes to create a seamless user experience, improving customer engagement, insight, acquisition, and retention.
Tumelo works closely with fund management and stewardship teams to ensure that the voice of underlying customers is represented in decision-making and considered during strategic or product development initiatives.
Tumelo’s technology is currently used by market leaders such as Legal & General, Aviva, Cushon, Wealthify, and iClima.
To find out more please visit www.tumelo.com or email hello@tumelo.com to request a demo.
Follow us:
Twitter: www.twitter.com/Tumelohq
LinkedIn: www.linkedin.com/company/12608798