Castle Trust Bank taps Monument for cloud banking upgrade

By Parth Prabhudesai

Castle Trust Bank has partnered with Monument Technology to modernise its savings business by migrating operations onto a cloud-native Banking Platform as a Service (BPaaS). The implementation is currently under way, with completion targeted for early 2027.

The move forms part of Castle Trust Bank’s broader strategy to upgrade its technology infrastructure and support future growth, including the launch of a new Easy Access savings product range. Founded in 2012 and granted a full banking licence in 2020, the bank offers a range of savings products, including ISAs, alongside specialist property and consumer finance services.

Monument Technology’s platform integrates core banking, payments, and customer channels into a single managed solution. Designed to reduce reliance on legacy systems, it enables faster product development, improved operational efficiency, and scalable growth. The partnership marks a key milestone for Monument Technology, as Castle Trust Bank becomes the first UK-regulated bank to adopt its platform.

Nick Lawler, Chief Commercial Officer at Monument Technology, 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 and bring products to market more efficiently.”

Nick Bennett, Chief Technology and Operations Officer at Castle Trust Bank, added, “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 customer expectations.”

The collaboration follows Monument Technology’s recent deployment with Ecology Building Society, demonstrating the platform’s capabilities in a regulated environment. The platform is designed to evolve continuously, with new features developed collaboratively and rolled out across its client base, supporting long-term innovation and resilience.