Banking platform provider, Monument Technology, has announced a partnership with Castle Trust Bank to deploy its banking platform.

Castle Trust Bank is the second client and first UK-regulated bank client to join Monument Technology, following the announcement of Ecology Building Society last week.

The partnership will involve Castle Trust Bank migrating its savings business onto Monument Technology’s platform, with implementation already under way and completion targeted for early 2027.

Monument Technology’s platform is a cloud-native banking platform as a service, combining core banking, payments and customer channels into a single managed solution. It is designed to help financial institutions reduce reliance on legacy systems and support faster product development.

Castle Trust Bank, which launched in 2012 and became a fully regulated bank in 2020, offers a range of savings products, including ISA accounts, alongside specialist property and consumer finance, via its Omni business.

Monument Technology said the deal is particularly significant as Castle Trust Bank is the first UK-regulated bank to adopt its platform, choosing it to upgrade and transform its savings business.

Chief commercial officer at Monument Technology, Nick Lawler, commented: “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.”

Chief technology and operations officer at Castle Trust Bank, Nick Bennett, said: “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.”

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