Castle Trust applied for a banking licence last year, and is now authorised, with restrictions, pending full authorisation. The lender plans to launch a savings proposition for retail customers to support its growth aspirations.

The DPR savings origination and servicing platform provides financial institutions with a fully automated solution, that can serve customers across multiple distribution channels to manage a range of retail savings products including ISAs.

Martin Bischoff, chief executive officer at Castle Trust, said: “We have bold ambitions to grow and scale the business, meaning we needed to ensure that our chosen technology vendor could offer proven technology that enables us to increase efficiency and the flexibility to develop a range of savings products to suit our customers’ needs.

“This is why we have chosen the DPR solution. Their solution capability, experience, migration expertise and depth of market understanding is second to none.”

Dave Patel, co-founder and CEO of DPR, said: “We’re delighted that Castle Trust chose our savings origination and servicing solution and look forward to working with them to achieve their ambitions.

“Our savings module is designed to embrace the open digital world that our client requires and will undoubtedly support them on their journey, both now and in the future.”