2019 has already been a fantastic year for our partner, Secure Trust Bank. Having firmly established itself as a competitive specialist bank within the UK savings market over the last few years, it has won awards throughout the year and recently launched its first ISA product to the market. To add to this outstanding success, it has now announced that its customer deposits have exceeded £2 billion for the first time.
Secure Trust Bank’s half-year results show customer deposits had increased to £2,001.5m (an increase of 20.8% on 2018,) with over 60% of customers with maturing medium-term savings bonds choosing to reinvest their funds with the Bank. Its success in acquiring and retaining deposit funds follows the implementation of the Aurius Deposits platform from Apak Group, a Sopra Banking Company, in late 2017.
Aurius Deposits provided Secure Trust Bank with an internet banking capability for the first time, allowing customers to manage their savings accounts online. Aurius has also provided the Bank with an internet on-boarding process that has improved customer experience and operational efficiency.
During the first year of operation, over 13,000 new customers were on-boarded and 80% of those were processed with no need for any staff intervention. This was achieved through the automation of processes using Aurius’s inbuilt workflow management, interfaced with industry-standard external services for Know Your Customer and anti-fraud checks.
The partnership between Secure Trust Bank and Apak Group began in 2014 when Aurius’s Development Finance solution was selected to support the Bank’s Real Estate Finance portfolio.
James Paterson, Banking & Marketing Director at Secure Trust Bank said, “Aurius Deposits has proved to be an excellent system to support our ambitious growth plans. Using its inbuilt workflow capability, we have increased our efficiency and improved the consistency of our customer service.
“Simultaneously, the platform has allowed us to expand and enhance our customers’ online experience with the addition of internet banking for savings account servicing and we’re delighted to have now surpassed the £2 billion milestone in customer balances.”
The Aurius platform is specifically designed for the Specialist Banking market and provides a highly flexible lending module capable of being targeted at niche lending markets, coupled with a low-touch deposit-taking capability which facilitates the acquisition of deposit funds from retail and SME customers.
“It is gratifying to have been able to work with Secure Trust Bank through such a successful period” commented James Powell, CEO at Apak Group.
“Our aim is always to work in partnership with our clients to build long term success. Secure Trust Bank reaching the £2 billion milestone, following Aurius’s implementation as its r deposits platform, demonstrates that we have provided a solid foundation for achieving that goal.
“Apak Group’s purchase by Sopra Banking Software last year provides a stable corporate base from which we can continue building long-term partnerships. We look forward to continuing to deepen our relationship with Secure Trust Bank over the coming years.”
About Secure Trust Bank:
Secure Trust Bank is an established, well-funded and capitalised UK retail bank with a 67 year trading track record. Secure Trust Bank operates principally from its head office in Solihull, West Midlands, and had 956 employees (full- time equivalent) as at 30 June 2019. The Group's diversified lending portfolio currently focuses on two sectors:
(i) Business Finance through its Real Estate Finance, Asset Finance and Commercial Finance divisions,
(ii) Consumer Finance through its Motor Finance, Retail Finance, Debt Management and Consumer Mortgages divisions
As at 30 June 2019 the Group's loans and advances to customers totalled £2,278.3 million, customer deposits totalled £2,001.5 million and the Group's total customer base was well over 1.4 million.
Secure Trust Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Secure Trust Bank, PLC, One Arleston Way, Solihull, B90 4LH.
Press Contact: Dawn Walker – firstname.lastname@example.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.
Press Contact: Natalie Sweet – email@example.com
About Sopra Banking Software:
With 4,300 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.
Press Contact: Stephanie Decortiat - firstname.lastname@example.org