Banking platform provider Monument Technology, which offers a cloud-native Banking Platform as a Service (BPaaS) designed to help financial institutions modernise their core systems, has announced a new partnership with Castle Trust Bank to deploy its platform across the bank’s savings business.
The deal will see Castle Trust Bank transition its savings operations onto Monument Technology’s BPaaS solution, with the migration already under way and expected to reach completion in early 2027. The partnership represents Monument Technology’s second major client win and, notably, its first with a UK-regulated bank.
Castle Trust Bank, established in 2012 and granted full regulatory status in 2020, provides a range of savings products — including ISA accounts — as well as specialist property and consumer finance through its Omni division. Adopting the Monument Technology platform forms part of the bank’s broader ambitions to strengthen its technology infrastructure, support growth and introduce a new Easy Access product range.
Monument Technology’s BPaaS offering integrates core banking, payments and customer-facing channels within a single managed solution, built on a cloud-native architecture. The platform is intended to reduce dependence on legacy systems and accelerate product development. It is also designed to evolve alongside each new client, with new features developed collaboratively and made available to all users of the platform.
The announcement follows Monument Technology’s confirmation earlier this month that it had completed its first full deployment with Ecology Building Society, establishing a live example of the platform operating within a regulated environment.
Monument Technology chief commercial officer Nick Lawler 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.”
Castle Trust Bank chief technology and operations officer 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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