Castle Trust signs DPR for savings origination tech
Investment firm and challenger bank hopeful Castle Trust has partnered with technology provider DPR in a deal which will see the latter provide its savings origination and servicing platform.
Castle Trust was invited by UK regulators to apply for a banking licence in November 2019. The firm expects to become a fully-fledged bank before the end of 2020.
Founded in 2012, the company now has more than 22,000 customers and says it wants to become “a different kind of bank.”
Martin Bischoff, chief executive officer at Castle Trust, says that the firm has ambitions to scale and grow, and that it needed to pick a technology vendor that could offer “proven technology” that would help it increase efficiency and flexibility.
DPR provides technology to a number of new market entrants in the banking space. It also provides an integration into ClearBank, the first UK-based clearing bank for more than 250 years.
The vendor also has a deal with Saffron Building Society.