Guernsey’s newest bank has teamed up with one of the world’s most-established technology companies to provide its back-office systems.
Bank Aston has entered a “strategic collaboration” with American tech giant Oracle to deliver its full technology stack – including payments, accounts, cash management and back-office treasury.
CEO Paul Gorman said the company wanted a single “best-in-class” system, rather than “stitching together multiple vendors”.
“We chose Oracle because it provides a single, functionally-rich, integrated stack that enables us to support clients with fast onboarding, resilient payments and deep connectivity,” he said.
The system would underpin the bank’s “core proposition [to] fill the gap in banking
supply to institutions in international financial centres”.
Last year, Bank Aston became the first bank in 30 years to be licensed by the Guernsey Financial Services Commission (GFSC) and is planning to launch later this year.