WTW, a global advisory, broking, and solutions company, has acquired NatWest Cushon, a fintech workplace savings and pension business, for an undisclosed amount. NatWest Cushon is recognized for using world-leading financial technology to bring innovation to workplace savings, helping individuals feel more comfortable with saving and investing through a user-friendly platform. WTW currently operates LifeSight, a prominent master trust.
This corporate acquisition is a strategic move for WTW, significantly strengthening its defined contribution pension and broader workplace savings capabilities. NatWest Cushon’s advanced digital platform and focus on member engagement complement WTW's existing services, allowing for an expanded and more integrated offering to employers and their employees. The acquisition is not a funding round but a full corporate buyout designed to merge operations and expertise.
The combination of NatWest Cushon with WTW's LifeSight is projected to create a substantial workplace savings entity, managing approximately £30 billion in assets under management and serving more than 1 million people. This scale is expected to drive further innovation and investment in technology, enhancing the overall experience for members. The strategic rationale is centered on providing employers with a comprehensive, modern, and engaging platform that simplifies pension and savings administration.
Moving forward, the integrated entity aims to leverage its combined strengths to deliver cutting-edge financial technology solutions, empowering individuals to manage their financial futures effectively. The focus will remain on continuous innovation, expanding service offerings, and solidifying its position as a leading provider in the competitive workplace savings and pensions market.