Engineered scale for a challenger bank, enablin lending to grow from £1.8bn to £4.0bn+, deposits to £4.5bn, and profits to more than double.
Context & Challenge
Architecting the IT integration for a landmark $8.75B merger, underpinning $100M+ synergies
Ageing legacy systems slowing growth.
Fragmented operations undermining efficiency.
A digital proposition that lagged behind market leaders.
The need to satisfy regulators while scaling fast.
Our Role & Approach
Xonetic partnered with the bank from strategy through delivery, shaping the Human Digital modernisation programme and providing:
Programme leadership and change management.
Design authority across cloud, data, and digital.
Vendor assurance & sourcing optimisation with Tier 1 partners.
Application of our BRIDGE methodology (Business, Regulatory, Integration,
Digital, Governance, Energy) to keep the transformation compliant, value-driven, and sustainable
Key Outcomes Enabled
Scale foundation – Cloud-first architecture and new operating model reduced reliance on legacy core, underpinning lending growth from £1.8bn → £4.0bn+ (+120%) and deposits from £2.5bn → £4.5bn (+80%).
Profitability & returns – Profit before tax more than doubled from ~£30m → £66.6m, with sustainable RoTE of 12.9%.
Customer experience uplift – New platforms blended trusted relationship management with digital-first journeys across business and personal banking.
Operational excellence – Digital lending platform cut drawdown times from months to days; new treasury platform strengthened resilience and efficiency.
Vendor & cost optimisation – Restructured sourcing and contracts, unlocking £30m+ efficiency benefits across people, process, and technology.
Regulatory & cultural resilience – Strengthened PRA/FCA/EBA-aligned compliance and embedded agile practices, making transformation “business as usual.”
Result: The bank scaled fast growing lending, deposits, and profitability while building resilience and speed to market positioning it as a credible mid-tier competitor in UK financial services.
