Sopra Banking Software (SBS), which claims to be a leading technology partner to more than 1,500 financial institutions worldwide, announced it has been “selected as preferred supplier for Bevan Money, a digitally focused start-up who will provide retail mortgage and savings products to the UK market.”
Bevan Money has been “developed to provide mortgage and savings services to the 5.74 million public sector workers in the UK and is on its way to becoming a new UK authorized bank.”
The business has officially “completed the pre-application stage of the Bank of England’s New Bank Start-up Unit, the longest stage on the authorization journey, and successful completion enables 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, delivering best-in-class business outcomes.”
Richard Broadbent, UK Managing Director, Sopra Banking Software, states:
“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. Our appointment as a preferred supplier continues to demonstrate our ability to drive technologically innovative, customer centric solutions.”
Mel Lane, CEO, Bevan Money, states.
“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 wouldn’t be one of them. It has to just work! 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.”
As noted in the update, Sopra Banking Software is “the partner of choice for more than 1,500 financial institutions worldwide.”
The rich variety of their solutions, the strength of their conviction and our passion for innovation enable them to support their clients “on a daily basis and in their future projects, as well as in their goals regarding financial inclusion.”
Their customers, based in over 80 countries around the world, benefit every day from their technologies and software, as well as the expertise of their 5,000 employees.
Sopra Banking Software is “a subsidiary of the Sopra Steria Group, a European leader in consulting, digital services and software development.”
With more than 47,000 employees, the Sopra Steria Group “generated a turnover of €4.7 billion in 2021.”