REDWOOD Bank – the challenger bank part owned by Warrington Borough Council – is thought to be the first in the UK to be 100 per cent ‘born in the cloud’.
The bank, only launched last year – partnered with Microsoft to deliver a “fast and fantastic” service to its customers and colleagues using an IT system which was completely internet-based from the first moment it opened its doors in August.
At an event held in central London and attended by IT experts involved in the project, the bank’s leadership team revealed how they used secure, cloud-based technology and hand-picked expert partners to build and launch Redwood Bank in under six months following the receipt of its initial banking licence.
Chief executive officer and co-founder Gary Wilkinson said: “We are very proud that Redwood Bank was not only ‘born in the cloud’, but also achieved one of the fastest ‘licence-to-launches’ in UK banking history. Microsoft and our other expert partners, have given us access to a secure, powerful digital infrastructure which would not be feasible to build in-house.”
The event celebrated the successful collaboration with Microsoft and the Bank’s other partners.
Mr Wilkinson continued: “Our strapline at Redwood Bank is ‘It’s about time’ and we’re certainly proud of what our technology platform has helped us to achieve in such a short amount of time.
“We think it’s about time that a bank invested in security, speed and simplicity to the benefit of the customer experience, and that’s exactly what we delivered. We wanted to share this achievement and that’s why we’ve published our ‘Redwood Bank: Born in the Cloud’ whitepaper.”
Richard Peers, Microsoft’s global director of financial services, said: “We applaud Redwood Bank’s pioneering approach and adoption of this technology.”
The Bank’s products include individually-assessed mortgages for business owners and professional landlords, as well as a range of Best Buy savings accounts, which is offered to charities, clubs and associations as well as businesses.
For further information, visit redwoodbank.co.uk/borninthecloud.
Picture: (L-R) Richard Peers, Mark Hammond, sales and marketing director, DPR, Gary Wilkinson, Andrew Hall, sales and marketing director, CSI, Michael Harriman, IT director
Warrington’s bank first to be “born in the cloud”
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