Castle Trust Bank has partnered with Monument Technology to migrate its savings business onto a new banking platform as part of a wider technology upgrade.
The move forms part of the lender’s broader growth strategy across bridging and buy-to-let, with the investment aimed at improving operational efficiency and supporting future product development.
Implementation is already under way, with completion targeted for early 2027.
The cloud-native Banking Platform as a Service will combine core banking, payments and customer channels into a single system, designed to reduce reliance on legacy infrastructure and accelerate speed to market.
BIG INVESTMENT
Nick Bennett (main picture, inset), chief technology and operations officer at Castle Trust Bank, says: “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.
“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.”
The platform upgrade is expected to support Castle Trust’s continued expansion of its specialist lending proposition, including bridging and buy-to-let, alongside enhancements to its savings range.
The lender, which launched in 2012 and became fully authorised in 2020, operates across specialist property finance and consumer lending through its Omni business.
IMPORTANT PARTNERSHIP
The deal marks Monument Technology’s first UK-regulated bank client and its second major platform deployment following Ecology Building Society earlier this month, providing a live proof point in a regulated environment.
Nick Lawler, Chief Commercial Officer at Monument Technology, says: “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.”
