News Articles

Tuesday, July 9, 2019

Charity Bank signs with Apak Group, a Sopra Banking Software company, for its specialised lending platform

Apak Group, a Sopra Banking Software Company, and Charity Bank, the loan and savings bank for charities and social enterprises, are delighted to announce that they have signed contracts to implement Apak’s Aurius product. 

Charity Bank signalled that Apak Group were their preferred supplier in February and since then Apak have been gathering detailed requirements and creating a solution design. Plans have now been agreed between both parties and Charity Bank have approved a plan for implementation and live support of Aurius. 

Aurius will be replacing Charity Bank’s legacy core banking system, which is managed in-house. Aurius will be delivered and supported using Apak’s ASP service hosted in its private cloud facility. In addition, Apak will be responsible for the operational IT management of Charity Bank’s system once live.

Charity Bank has chosen to take an “out-of-the-box” approach to the implementation, which allows the project to be delivered in an unprecedented timescale, with both parties committed to targeting a live date before the end of 2019.

In addition to providing core back-office functionality, Aurius will be handling online applications for accounts and Charity Bank will be making use of Aurius’s in-built workflow management to help streamline processes and improve efficiency. The automation of processes, such as new account applications, will allow Charity Bank to manage processes by exception and for most applications to proceed without the need for staff intervention.

Apak Group’s Aurius is a next-generation banking platform designed specifically for organisations which, like Charity Bank, attract long-term depositors in order to fund lending into specialist markets. The platform facilitates the low-to-zero-touch acquisition of depositors’ funds combined with highly configurable and flexible lending support.

Charity Bank uses its savers’ money to provide much needed loans to UK charities and social enterprises – bringing benefits for people, communities and the environment. Its expertise, commitment and flexible approach to lending helps social purpose organisations get the support and funding they need.

Edward Siegel, Chief Executive at Charity Bank said “Following our selection of Apak Group, we are very pleased to commit to implementing the Aurius platform. Our experience of working with Apak over the past few months has only served to confirm our initial decision that Apak will make an excellent long-term partner and that Aurius is a perfect fit for specialist banking organisations like Charity Bank.With 40 years’ experience of providing specialist financial systems, Apak Group has become an established provider of expert business and technology solutions for the specialist finance sector.

James Powell, EVP at Apak Group, comments “We know that Aurius, combined with Apak’s decades of experience as an ASP provider, will meet Charity Bank’s need for a flexible, future-proof and efficient platform on which to build their business. We look forward to a long and successful relationship with the bank as we support them with their ambitious growth plans.”

 

About Charity Bank

Charity Bank is the loans and savings bank for charities, social enterprises and people who want to make the world a better place.  It uses its savers’ money to provide much needed loans to UK organisations working to drive positive social change – bringing benefits for people, communities and the environment.

Since 2002, Charity Bank has made 988 loans totalling over £270m to housing, education, social care, community and other social purpose organisations. Charity Bank uses its expertise, commitment and flexible approach to lending, to help charities and social enterprises get the support and funding they need.

Charity Bank is owned by social purpose organisations. It aims is to leave an organisation in a stronger position, not only financially, but also in relation to its ability to pursue its mission. In its 2019 Impact Survey, 92% of its borrowers said that their Charity Bank loan made a major positive contribution to the delivery of their mission.

www.CharityBank.org

Important information

Registered Office: The Charity Bank Limited, Fosse House, 182 High Street, Tonbridge, Kent TN9 1BE. Company registered in England and Wales No. 4330018.  Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register No. 207701. The services/products referred to in this document are intended for use by United Kingdom (UK) residents only. Nothing in this press release constitutes advice or a recommendation and professional advice should be taken before any course of action is taken.

Press Contact: Mark Howland - mhowland@charitybank.org

About Apak Group

Apak Group, a Sopra Banking Software company, has 40 years’ experience of providing specialist financial systems to the global asset finance and banking sectors. Our products have been designed by in-house financial software specialists, utilizing their extensive knowledge and long-term experience of working within the financial services industry. Our specialist teams work with business and IT leaders to help translate their strategic business agendas into IT initiatives and solutions that measurably improve performance.

For more information, follow us on LinkedIn ApakGroupLimited or visit www.apakgroup.com

Press Contact: Natalie Sweet – Natalie.sweet@soprabanking.com

About Sopra Banking Software:
With 4,500 experts, a pro forma turnover 2018 of € 373.7 million and one of the deepest, broadest portfolios of software and services, Sopra Banking Software is a trusted, long-term partner of over 800 banks in more than 70 countries. Sopra Banking Software has an unequalled ability to address the requirements for banks and financial institutions of any size and scope, allowing them to innovate and expand their services. Sopra Banking Software is a subsidiary of the Sopra Steria Group, a European leader in digital transformation, with more than 44,000 employees. In 2018, Sopra Steria achieved generated a revenue of € 4.1 billion. 
For more information, follow us on Twitter @SopraBanking or visit www.soprabanking.com  

Press Contact: Stephanie Decortiat - stephanie.decortiat@soprabanking.com