Hot on the heels of being granted a restricted banking licence in October, the UK challenger bank Monument has now announced the key providers to help it build its digital bank for high-earners.
It has picked Mambu, Salesforce, Amazon Web Services, Persistent Systems and Accenture as key providers for its technology build.
This highlight Monument’s strategy of creating a platform built on innovative and easily exchangeable solutions.
Monument plans to launch in 2021.
“We have been working closely with our chosen providers for some months now, to lay the foundations for the build of our platform,” said Steve Britain, COO at Monument. “We are delighted at how much we have already achieved, particularly as much of the work has been done by a highly distributed team because of Covid-19. We are now focused on completing the work to build a unique configuration of best in class software components that will make us highly flexible for the future and deliver market leading client service.”
Sudip Dasgupta, CTO at Monument, added, “It was essential to me that we selected the strongest providers available. Those that offer us modern technology solutions with the best degree of integration that we need, together with flexibility for the future and proven operational reliability.
“In Mambu, Salesforce and AWS we have certainly achieved that objective and we are excited about our future engagement with them. Equally, as we rapidly build our platform for launching with clients in early 2021, we wanted support from providers who have been on this journey before and in Persistent and Accenture Interactive, I am delighted to say we have found that.”
When discussing the creation of the new bank this summer, the founders said that while there are many neobanks in the UK, Monument will target individuals who have a net worth of between £250,000 and £5m.
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