Riff is an automated savings agent that monitors UK bank interest rates and moves idle cash into higher‑yield, FSCS‑protected accounts on behalf of users. It consolidates all linked accounts in a single dashboard, transfers funds to maximize returns, and automatically returns money to spending accounts when needed, all without fees.
Funding
$16.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
4OFounders
Product
Problem
UK savers often keep money in low‑interest accounts, missing out on significant interest earnings because manually tracking and moving funds to higher‑yield options is time‑consuming and complex.
Solution
Riff is an automated savings agent that continuously monitors bank interest rates across the UK market and transfers customers’ idle balances into higher‑yield, FSCS‑protected accounts. The platform consolidates all accounts in a single view, identifies better‑rate opportunities within user‑defined preferences, and executes the transfers without fees. When spending money is needed, Riff automatically moves the required amount back to the user’s everyday account, ensuring liquidity while maximizing returns. All funds remain in government‑insured accounts, fully visible and under the user’s control.
Target Audience
Riff targets UK consumers who maintain multiple bank accounts and want to maximize interest on idle cash without managing transfers manually.
Features
- Real‑time rate monitoring across multiple UK banks to spot higher‑yield opportunities
- Automated fund transfers that move money to better‑rate accounts and back to spending accounts as needed
- FSCS protection up to £120,000 per bank, with automatic distribution across banks for balances exceeding the limit
- Unified dashboard displaying all linked accounts, balances, and earned interest in one place
- No subscription or transaction fees; service is free to use