The £614 Billion Question: Why Are We Holding So Much Cash?

Join us for breakfast in London and a conversation about why so much money remains in cash, even among financially informed people. UK savers have been estimated to hold more than £614 billion in excess cash [Source: FT / Barclays]. Much of the conversation focuses on encouraging people to invest more, but investing is not necessarily the only possible destination. This breakfast will explore why people choose to hold substantial cash, the behavioural psychology behind saving and financial decision making, and what making that money work harder could actually mean. Hosted by Mike Saraswat, Founder and CEO of Stoa, a growing London fintech that recently raised $2.4m and works closely with banks and merchants to rethink how people use their savings. Through Stoa’s 12 month Pots, customers set aside cash and receive lifestyle benefits upfront, giving their money more immediate value without having to invest or spend it. Who is this for? Professionals working across finance, wealth management, consulting, fintech, tech and related industries, particularly those interested in savings behaviour, financial innovation and how people make decisions about money.The morning will include breakfast, conversation and time to network with other professionals before the working day begins. Attendance is complimentary and breakfast is provided by Stoa. Spaces are limited to keep the morning small and conversational.