Secure Trust Bank has launched its first ISA product which offers customers a 1-Year Fixed Rate Cash ISA on the Aurius Deposits platform.
Building on the close relationship established over the past five years, Secure Trust Bank has taken advantage of Aurius Deposits’ ISA capability to introduce this new offering to the market.
In addition to supporting the full back-end operation, Aurius Deposits provides online applications and servicing via internet banking, simplifying the process for the Bank’s customers. The Bank has also become Aurius Deposits first customer to use the BACS ISA transfer system.
Secure Trust Bank implemented Aurius Deposits from Apak Group, a Sopra Banking Software company, in late 2017 following successful use since 2015 of the Aurius Development-Finance solution to support its Real Estate Finance portfolio.
A key aim of the Savings implementation was to provide STB with both a flexible and resilient platform and to select a responsive partner that would help enable STB’s expansion through the broadening of its product offering. This ISA launch is tangible evidence of that benefit.
Since migrating to Aurius, Secure Trust Bank has benefited from the increases in efficiency of customer service through use of Aurius’s integrated workflow management system.
Offering a rate of 1.60%, this new ISA Product is currently listed joint second in Savings Champion’s best buy table and is open for new deposits and cash ISA transfers with a minimum balance restriction of £1,000 and a maximum of £1m.
James Paterson, Secure Trust Bank’s Banking and Marketing Director said, “We’ve developed a mutually positive and beneficial partnership with the Apak team to deploy and embed the Aurius Deposit platform. We are extremely pleased with our launch into the ISA market to offer even more great value savings products to our customers and underpin our long term growth plans.
“Both the underlying core functionality and the ability to configure and customise the platform to STB’s specific business needs means that we’re able to continue to respond to market demands quickly, whilst maintaining an excellent level of customer service.”
Apak Group’s Aurius platform is specifically designed for the UK Specialist Banking market. It 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 raising of deposit funds from retail and SME customers. This includes “out of the box” support for products such as ISAs.
“We’re delighted to be able to support Secure Trust Bank with its ISA product launch” commented Apak Group Executive Vice President, James Powell. “When Secure Trust Bank selected Apak we were aware that one of its strategic aims was to be able to expand into the ISA market and we’re very happy to see that goal fulfilled.
“We look forward to supporting STB into the future as the bank further expands the scope of its savings offering to the market and we know that Aurius will continue to provide a responsive, flexible and scalable platform.”
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 862 employees (full‐ time equivalent) as at 31 December 2018. The Group's diversified lending portfolio currently focuses on two sectors:
As at 31 December 2018 the Group's loans and advances to customers totalled £2,028.9 million, customer deposits totalled £1,847.7million and the Group's total customer base was well over 1 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.
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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
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About Sopra Banking Software:
With 4,000 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
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