A new programme has been unveiled to help people shift from accumulating cash reserves to deploying their funds more actively.

The UK-wide scheme, introduced today with backing from 20 major financial services firms, wants to ensure investment options are more accessible, relevant and approachable.

Its ambition is to connect with the millions of adults who currently hold money in deposit accounts yet have never ventured into investment products.

Sasha Wiggins, who leads the UK Retail Investment Campaign and heads Barclays Private Bank and Wealth Management, observed that the nation has a strong culture of setting money aside, but there is a notable shortfall when it comes to investment, with many convinced that such activities are not suitable for ordinary people.

Research conducted in Cardiff found that 39 percent of savers who have not yet invested expressed a desire to understand more about deploying their money, while 78 percent characterised taking that initial plunge as feeling like a daunting prospect.

Chris Cummings, who serves as chief executive of the Investment Association and deputy chair of the Retail Investing Campaign, noted that there is clear interest from millions of savers who want to achieve greater returns but frequently feel uncertain about how to begin.

Central to the programme is Savely the Squirrel, a mascot designed around the concept of putting money aside, which encourages people to progress from simply building up savings to taking their first steps into investment.