CSI’s tech to underpin new UK challenger Bevan Money

Bevan Money, the new applicant UK challenger bank for public sector workers, is partnering with CSI for its technology needs.

CSI offers core processing, digital banking, managed cybersecurity, payments processing and regulatory compliance solutions to financial institutions.

Founded in 1983, the firm is headquartered in Birmingham, with offices in the UK and North America. It was recently sold to two private investment firms in a $1.6 billion deal.

Mel Lane, CEO of Bevan, says CSI’s technology will help the bank become “robust and resilient to keep our business and customers online 24/7”.

Claiming to be the UK’s first lender specifically backing public sector workers, Bevan Money aims to provide mortgages for first-time buyers and later-life borrowers as well as provide “ethical accounts for bigger-picture savers”.

The bank is on track to submit its application for authorisation this quarter. On receiving authorisation, it aims to launch sometime in late 2023 or early 2024.