Avoid a regtech downfall with The Bunker’s new sandbox service
The Bunker, a UK-based data storage and managed services provider, has launched a new sandbox service for start-ups seeking to develop applications for the financial services market and cope with regulations.
It’s got some backing for its plans as innovation network Barclays Rise “will also play a supportive role in helping to identify early stage businesses for the new sandbox programme”.
The Bunker’s new MD Phil Bindley says: “Navigating the regulatory minefield of the financial sector is not easy, especially when you are at the early stages of development and your team is likely to be small and naturally focused on technical product development.”
Technology partners include Lenovo and Intel, and The Bunker says it can offer a “secure, flexible, online space that entrepreneurs can use to develop their product, demonstrate it to customers and ensure that it meets all relevant compliance and security regulations”.
In addition to its sandbox online platform, The Bunker is offering access to its senior consultants, who can provide expertise in a range of disciplines.
The sandbox provides security and general compliance checks throughout the software development lifecycle (SDLC). Repeat checks that start at the beginning of the cycle will “ensure that a company’s infrastructure does not need to be rebuilt if gaps in compliance are discovered, and the resulting downtime can be reduced to a minimum”.
In July, The Bunker secured undisclosed investment from Palatine Private Equity. At that time, and in parallel to the new investment, both Peregrine Newton (CEO) and Andy Theodorou (COO), both co-founders of the business, decided to step aside. Bindley (CTO) was promoted into the role of MD with the rest of the senior management team remaining in their current roles.
The Bunker’s UK data centres are located just outside the M25 – the motorway which circles London (aka “the UK’s largest car park”).