Newport-based fintech company CashCalc has been named in the WealthTech100 list – making it one of the world’s most innovative companies.

The WealthTech100 award identifies the most innovative companies from around the world, and a panel of analysts and industry experts selects the top 100.

CashCalc was able to demonstrate an innovative use of technology to solve a significant industry problem and help generate cost saving and efficiency improvements.

Over the last 12 months, its award-winning and market-leading technology has not only been used by financial planners to create powerful and engaging lifetime cashflow plans for clients, but other new tools have proved vital to financial planners. Its secure portal helps enhance digital engagement with clients, as well as solve many pain points experienced by both, when securely communicating and sharing information with each other remotely.

Ray Adams, chartered financial planner and director of CashCalc, said: “I’m absolutely speechless. To be awarded a place on the list of most innovative companies in the world, as a small company from South Wales, I’m completely and utterly blown away.

"I have a very young team here at CashCalc, and they’ve somehow managed to turn my ideas into a great, engaging and intuitive tool. I’d also like to thank our users for the feedback they’re providing us. We’re constantly looking to improve what we can offer, and their feedback has helped us develop the product even further.”

CashCalc is only the second firm based in Wales to be included in the WealthTech100 list and with it be recognised as one of the world’s most innovative companies. The announcement comes in the same month as the company celebrates its seventh birthday.