Monument Technology entered into a new partnership with Castle Trust Bank to deploy its cloud-native Banking Platform as a Service (BPaaS). The deal marks Monument Technology’s second major client and its first partnership with a UK-regulated bank.
The agreement will see Castle Trust Bank migrate its entire savings business onto Monument Technology’s managed solution. Implementation is already underway, with the project targeted for completion in early 2027.
Modernising the savings ecosystem
Castle Trust Bank, which originally launched in 2012 and became a fully regulated bank in 2020, currently offers a range of savings products, including ISA accounts, alongside specialist property and consumer finance through its Omni business.
By leveraging Monument Technology’s BPaaS—which seamlessly combines core banking, payments, and customer channels into a single solution—Castle Trust Bank aims to reduce its reliance on legacy systems and accelerate product development. This migration forms a core part of the bank’s broader strategy to invest in its technology infrastructure and support future growth, which includes the upcoming introduction of a new Easy Access product range.
A milestone for Monument
For Monument Technology, securing Castle Trust Bank represents a significant milestone. According to the provider, it demonstrates institutional confidence in both the technology and its delivery model for upgrading and transforming established savings businesses.
The BPaaS platform is designed to evolve collaboratively; enhancements and features developed for one client are subsequently made available across the wider client base. This latest deal follows Monument Technology’s confirmation earlier in April that it had successfully completed its first full deployment with the Ecology Building Society, providing a live proof point for the technology within a regulated environment.
Executive insights
Nick Lawler, chief commercial officer at Monument Technology, highlighted the growing momentum behind modern, scalable 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.”
“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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