Monument Technology Lands Landmark Banking Platform-as-a-Service Deal with Castle Trust Bank
Monument Technology has announced a partnership with Castle Trust Bank to deploy its Banking Platform as a Service (BPaaS), marking its second major client win and, crucially, its first with a fully UK-regulated bank.
The deal represents a key milestone for Monument Technology, with Castle Trust Bank becoming the first UK-regulated bank to adopt the platform, a move that signals confidence in both the technology and its delivery model. For the company, this is more than a commercial win; it is a validation of its standing in a competitive and compliance-heavy market.
Under the agreement, Castle Trust Bank will migrate its savings business onto Monument Technology’s cloud-native Banking Platform as a Service, which combines core banking, payments, and customer channels into a single managed solution. Implementation is already under way, with completion targeted for early 2027.
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. The move forms part of the bank’s wider technology investment strategy, aimed at modernising its infrastructure and supporting future growth, including the launch of a new easy access savings range.
Nick Lawler, Chief Commercial Officer at Monument Technology, described the deal as a reflection of growing industry appetite for modern infrastructure. He said the partnership reflects the momentum the company is building as more institutions look to adopt modern, scalable platforms, and that the Banking Platform as a Service model will allow Castle Trust Bank to scale more effectively, streamline its savings operations, and bring products to market more efficiently.
Nick Bennett, Chief Technology and Operations Officer at Castle Trust Bank, said the partnership represents a significant investment for the bank, enabling it to enhance its savings product suite, scale more efficiently, and respond more quickly to customers as the UK savings market continues to evolve, while maintaining a resilient and consistent core offering.
The collaboration follows Monument Technology’s recent deployment with Ecology Building Society, which provided an earlier demonstration of the platform’s capabilities within a regulated environment. The Castle Trust deal now builds on that foundation with a regulated bank, raising the stakes and the profile of Monument Technology’s Banking Platform as a Service offering considerably.
