Bevan Money, the new applicant UK challenger bank, with financial products specially designed to support public sector workers, is partnering with CSI for its technology needs. The brainchild of CEO Mel Lane, on authorisation the bank will launch to public sector workers in late 2023/early 2024.
During the first Covid 19 lockdown, Mel, whose family has a rich history of public service, wanted to find a way of helping give something back to the public sector workers and make their lives better in the way they do for us every day. She knew that lower paid public sector workers, often key and frontline, are often stuck in private rentals with rising rent and house prices and can find it difficult to save for a deposit. Yet, from the last two decades working in finance and IT, she also knew many banks were unable to help as they don’t have the products or services that enabled them to lend in a more creative way to these workers. Hence Bevan Money was born – a bank that would ensure both sides benefited.
Once authorised, Bevan will get more public sector workers into their own homes by lending for longer and taking into account often inconsistent but generally available overtime pay. It will consider deployment pay for the armed forces, on-call allowances, unsociable hours payments and the need to lend responsibly so public sector workers aren’t being stretched financially when they’re already likely overstretched physically and mentally in their careers.
Mel Lane, CEO, Bevan, says, “I’m delighted to appoint CSI as our managed service provider of choice. Our application to the regulator for authorisation is being submitted in this quarter, so now we need a trustworthy, reliable technology partner to help bring our vision to life. I’ve known and worked with CSI for the past eight years, and I know they can be trusted to ensure the technology that underpins our bank will be robust and resilient to keep our business and our customers online 24/7.”
Andy Dunn, Chief Revenue Officer, CSI, comments, “We’re so proud to be working with Mel and her team at Bevan. To be part of a project that addresses some of the challenges our public sector workers can face is massively important. We will be bringing our extensive experience in running complex, high-performance IT infrastructures in highly regulated markets to ensure Bevan delivers the best possible experience to customers. As a partner, Bevan is very close to my heart as my amazing sons would not be here today without the exceptional care they received from the NHS. Bevan Money is one we all need to watch and support if we can. We wish Mel and her team huge success so that all our amazing public sector workers can benefit from her vision.”
Please visit https://bevan.money/ to find out more about Bevan or register your interest in the bank as a customer, broker or investor.
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