Shawbrook Bank selects Sandstone to provide Online Savings application and Account Servicing platform

London - 12 March 2013

Shawbrook Bank, the leading challenger bank, provides customers with a straightforward, no-nonsense alternative for SMEs and individuals who are tired of what they’ve come to expect from a high street bank.

Shawbrook continually seeks to enhance its offering to customers and has selected Sandstone Technology to provide a new online personal savings application process with online access to accounts for its growing customer base.

Shawbrook has selected Sandstone due to their extensive online banking experience and reputation for innovation in digital banking services. The decision to go with Sandstone has been taken after lengthy analysis of online savings platforms and a desire to select a provider with a proven pedigree and future strategy for a seamless online savings service.

The bank is now looking to press forward with aggressive delivery timeframes to get the service live during Q3 in 2013. Nick Ellis-Calcott - IT Director at Shawbrook, comments “After considerable market assessment we have chosen Sandstone to work with the Bank in providing an online savings service that our customers would expect from a forward looking organisation like Shawbrook.”

“The first stage is to launch an online application process for personal deposit account holders with full online servicing later this year; the first of many online initiatives that we have in the pipeline,” he says.

Sandstone’s BankFast platform has been widely deployed globally and their customer base is increasing in the UK. The BankFast Apply secure online application service will provide immediate decisions for personal savings customer applications. The platform incorporates Electronic Identification and Anti Money Laundering checks to facilitate immediate application approval. A further proposed feature is to enable customers to fund new accounts via debit card payments.

Colin Rankin, General Manager of Sandstone says that “it is great news for Sandstone to be associated with a progressive bank like Shawbrook. They are looking to shake up the marketplace and use the latest digital banking technology to improve the customer journey for personal savers.”

“The bank will benefit from our proven repository of online banking functions and we have some exciting new developments for mobile banking that we hope will be the next deployment for the bank”. Sandstone’s reputation for delivery was a key factor in securing the business.

“This is a significant investment by Shawbrook Bank and sends a strong message about our commitment to our savings customers and the marketplace. We aim to provide our savings customers with the best online services available,” comments James Blower, Shawbrook Bank’s Director of Savings.

“Our partnership with Sandstone Technology demonstrates our continued commitment to deliver improved customer services to all of our savings customers”.

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