Metro Bank is using Sandstone to pilot a managed services online application platform for UK government-backed Individual Savings Accounts. Working with CallCredit to provide verification and credit checking data, the Australian vendor’s BankFast Apply platform will be white-labelled by the UK bank to allow immediate online customer applications incorporating Electronic Identification and Anti Money Laundering checks to facilitate quick approvals.
Sandstone was chosen after a competitive tender process and won out due to their online experience in the sector and ability to have the managed ISA application service up and running in time for the traditional April rush for ISAs, when savers look to maximise their tax free savings for the year ahead either in cash or share schemes.
Commenting on the new service, Paul Marriott-Clarke, managing director of direct development and support at Metro, said: “As the ISA season approaches we wanted to extend our reputation for customer service and no nonsense ISA products into the online channel. Sandstone has provided us with a sophisticated online application service that fulfilled all our criteria and met our timelines.”
By Neil Ainger