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UK industry forum established to explore how tech innovation can boost saving

22 May 2014  |  3846 views  |  0 Pound Coin Cash

The UK's Tax Incentivised Savings Association (Tisa) has set up a group to explore how technological innovation will change the way people save and invest.

The Tisa technology innovation forum will bring together firms from the financial services and tech worlds, with Barclays, Metro Bank, Microsoft, and Swift among those signed up.

The group is planning to look into how emerging technology is being used in other industries and countries and how this can be imported into the UK financial services sector.

In particular, it will work with Tisa's savings and investment policy project to determine how technology can be better used to address the consumer debt crisis and to support a sustained, inclusive, asset-based savings culture.

The group aims to have a report ready for publication later in the year, outlining examples of technologies which warrant consideration by UK financial services companies.

Bill Wrest, forum chairman and head of business innovation at Barclays, says: "This is a real opportunity for the financial services industry to step back and consider innovative technologies that could transform the way people engage with the sector."

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