Banking platform update

We’re today announcing a new partnership with Monument Technology to transform our core banking platform, the specialist software that supports Ecology’s business.

This move will help improve our service for Members and to operate more efficiently. It forms part of our investment in the skills, systems and technology we need to set Ecology up for the future and deliver on our 2030 Strategy.

Monument Technology brings a proven, cloud based, end-to-end banking platform, which has powered the growth of Monument Bank to a balance sheet of more than £2bn in just over two years.

This announcement follows an extensive selection process, resulting in the signing of Heads of Terms with Monument Technology. We expect to start using the new banking platform during 2025.

Gareth Griffiths, Ecology’s Chief Executive, said: “This new banking platform is a key part of our plans to modernise our technology, to give our Members better service and greater functionality, and grow both our membership and our impact. I look forward to sharing further updates as we progress with this exciting project.

Published: 8 May 2024

Author: Laura Baines