Bevan Money names Sopra Banking Software as preferred supplier

By Gloria Methri

Sopra Banking Software (SBS), a technology partner to more than 1,500 financial institutions worldwide, has been selected as preferred supplier for UK start-up Bevan Money.

Bevan Money has been developed to provide mortgage and savings services to 5.74 million public sector workers in the UK and is on its way to become a new authorised bank in the country.

The start-up has officially completed the pre-application stage of the Bank of England’s New Bank Start-up Unit, the longest stage on the authorisation journey, enabling the submission of Bevan’s formal application to the regulators.

As a partner to the Mortgage and Savings market for more than 40 years, Sopra Banking Software’s Core Banking platform already supports over 25 UK financial institutions across the sector.

“We are pleased to partner with Bevan Money on their mission to support public service workers, and we look forward to supporting them in their vision to generate positive, measurable social and environmental impact,” said Richard Broadbent, UK Managing Director, Sopra Banking Software. “Our appointment as a preferred supplier continues to demonstrate our ability to drive technologically innovative, customer centric solutions.”

Mel Lane, CEO, Bevan Money, added “When I thought of all the things that could keep me awake at night when starting a new UK Bank, I was adamant that the banking platform would not be one of them. Our procurement process was prolonged because we had to get it right. The Sopra Banking Platform technology, their commitment and investment in onwards development, but also their willingness to understand and embrace the culture we want to develop, were all key to our final decision. We have found a true partner. I think we have got it right here and I will sleep easy!”.

Sopra Banking Software is a subsidiary of the Sopra Steria Group, a European firm specialising in consulting, digital services, and software development. With more than 47,000 employees, the Group generated a turnover of €4.7 billion in 2021.