Shawbrook selected Sandstone Technology to deliver its online origination platform as well its online banking system. Shawbrook sources its deposits online, with the majority through its online platform, enabling the bank to raise significant volumes of retail and SME deposits based on fair and consistent pricing. This direct sourcing model enables Shawbrook to be flexible in its approach to funding, including managing in flows and tailoring maturity of the deposits to manage liquidity risk.
A challenger bank known for simplicity and great CX, Shawbrook’s market position has been shored up with the addition of Apply and BankFast Online Banking, which were delivered into production in six months. In the first year, deposits grew by 65% with 63,000+ new accounts in under two years.
Solution: Digital Banking
High level solution / product list involved: Apply
Region identification: UK