Sandstone Technology launches innovation hub

Building on their deep domain expertise in consumer lending, Sandstone Technology expand to cater for SME customers, with a one platform approach.

Under the new model, resources will be ring-fenced for developing new capabilities, with emerging market opportunities and existing customers’ strategic strengths informing areas of focus.

Sandstone CEO Michael Phillipou said the new approach is designed to help Sandstone remain at the forefront of the rapidly changing landscape in banking technology.

“At Sandstone we pride ourselves on our longstanding strategic partnerships with our customers, where we look to solve business problems together, not just provide a service. As the banking landscape continues to evolve apace, we’re excited to start working alongside our customers to develop solutions that grasp tomorrow’s opportunities, as well as today’s.”

Initial investment is focused on exploring how Sandstone’s existing solutions can be enhanced to cater for small to medium business (SME) entities, as well as individual retail customers. Alongside an experienced development team, the Innovation Hub includes subject matter experts with hands-on experience in business banking operations who bring a strong user lens to the product development process.

Priyanka Nigam, who has been appointed Executive General Manager of the Innovation Hub, said:

“Building new solutions from the ground up, that solve customer problems, is my passion and the one thing that most excites me in my work. I’m looking forward to working alongside our customers to understand how our solutions can help them capture and delight new market segments, with an initial focus on serving the small businesses that are the true engine of our economy.”

With development already underway on a suite of enhanced functionality for SME customers, Sandstone Technology are expected to launch their new SME capability from mid-2022.