Monument Technology has secured a platform partnership with Castle Trust Bank, marking its first UK-regulated bank client.
The deal will see Castle Trust Bank migrate its savings business onto Monument Technology’s Banking Platform as a Service, with implementation already under way and completion targeted for early 2027.
The move forms part of Castle Trust Bank’s wider technology investment strategy, aimed at modernising its infrastructure and supporting future growth, including the launch of a new easy access savings range.
Monument Technology’s platform combines core banking, payments and customer channels into a single cloud-native system, designed to reduce reliance on legacy technology and accelerate product development.
KEY MILESTONE
The provider said the deal represents a key milestone, demonstrating adoption of its platform within a regulated banking environment.
The announcement follows Monument Technology’s first full deployment with Ecology Building Society earlier this month, providing a live example of the platform operating in a regulated setting.
Nick Lawler (main picture), chief commercial officer at Monument Technology, said:“This is an important partnership for us and reflects the momentum we are building as more institutions look to adopt modern, scalable platforms and enhance their core and digital platforms.
“Castle Trust Bank is implementing a Banking Platform as a Service that will allow it to scale more effectively, streamline its savings operations and bring products to market more efficiently.
“Ultimately, this is about putting in place a platform that will support their business for the long term.”
BIG INVESTMENT
Nick Bennett (main picture, inset), Chief Technology and Operations Officer at Castle Trust Bank, added: “We are delighted to be working with Monument Technology as part of our continued investment in the Bank’s savings proposition and long-term capability.
“This partnership represents a significant investment for the Bank, enabling us to enhance our Savings product suite, scale more efficiently and respond more quickly to the expectations of our customers as we continue to grow our Savings business.”
MODERN PLATFORM
And he added: “By moving to a more modern platform, we are better equipped to innovate and enhance our proposition as the UK Savings market continues to evolve, while maintaining a highly resilient and consistent core offering.”
Castle Trust Bank, which launched in 2012 and gained full banking authorisation in 2020, offers savings products including ISAs alongside specialist property and consumer finance through its Omni business.
The platform is designed to evolve across clients, with new features developed collaboratively and rolled out across its wider customer base.
