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UK-headquartered fintech Kaldi offers an app that allows users to earn cashback from major retail brands and have the cash rewards turned into savings or investments in money market and index funds.
Research from Santander UK has revealed significant gaps in the understanding of money management among young adults. Out of 2,000 people surveyed, 79% have never created a budget, 76% have never paid a bill, and 77% have not set aside funds for unexpected expenses. Just one in four reported receiving any financial education at school, leaving millions without essential financial literacy.
Kaldi aims to address this gap by simplifying how money works and embedding financial well-being into everyday lives - turning spending into investing. They do this by converting everyday cashback from over 130 UK retailers, earning between 1% and 10% per purchase, into automatic savings or investments, without requiring financial expertise.
To bring their solution to market faster, Kaldi chose WealthKernel’s API-first infrastructure for its custody, onboarding and trading solutions. The company also makes use of WealthKernel’s tax-advantaged wrappers, such as ISA and JISA, to allow users to invest in money markets and other stock funds. WealthKernel’s core investing infrastructure now helps Kaldi address the issue of financial literacy and help users turn everyday spending into investments.
At WealthKernel, we help build better businesses, and Kaldi’s approach towards investing is one of a kind. For businesses, these models help them move beyond one-off purchases and increase their wallet share over time.
Businesses like Kaldi are meeting customers at the point of checkout, and instead of asking users to set aside large sums, they make it possible to build wealth passively every day.
"WealthKernel’s API-first platform powers Kaldi’s seamless journey from retail checkout to investment portfolio, giving customers secure, hassle-free access to low-cost money-market and index funds, to deliver a first-of-its-kind solution to the UK public."
Capital at risk when investing. Tax treatment depends on personal circumstances and is subject to change in the future.
Onboard your users with ease, with tailored onboarding flow rules, questions to cover risk and suitability, and automatic KYC and AML checks.
Access a range of UK tax wrappers and accounts tailored to fit your customers needs including ISAs, GIAs, SIPPs, and JISAs.
We support BACS, CHAPS, direct debits, open banking, instant matching deposits, recurring payments, and standing orders.
We enable users to transfer their assets held at another provider into our accounts at WealthKernel. The transfers can be made in cash or in-specie.
We’re a fully licensed custodian for client money and assets in the UK. Cash and securities are held at tier 1 banking and sub-custodian partners.
Comprehensive trading built on cutting-edge tech. Trade thousands of fractional securities across markets in multiple currencies.
Seamlessly manage models, programmatically rebalance, track performance data, manage fee accrual, model drift, and more.
Our transaction reporting solution feeds directly into the FCA’s portal and eliminates the need for our Tenants to have an external reporting mechanism.
With WealthKernel's Appointed Representative service, you can get to market faster without the need for an FCA authorisation.
