- New service will collaborate with Barclays Rise to spur early stage Fintech businesses, strengthening the UK’s hand as a growing hub for the sector.
- Launch is latest move following investment into The Bunker from Palatine Private Equity to capture growth in growing Fintech space.
The Bunker – specialist in ultra-secure data storage and managed services – has launched a new sandbox service for early stage businesses seeking to develop applications for the highly regulated financial services market. Barclays Rise – the network for developing Fintech innovation – will also play a supportive role in helping to identify early stage businesses for the new sandbox programme.
With technology partners including Lenovo and Intel, the move will make available a secure, flexible, online space that entrepreneurs can use to develop their product, demonstrate it to customers and ensure that it meets all relevant compliance and security regulations. In addition to the Sandbox online platform, The Bunker is offering access to its experienced senior consultants, who can provide invaluable expertise in a wide range of disciplines to its Fintech partners.
Speaking of the launch, The Bunker’s new managing director Phil Bindley said: “The Fintech market is undergoing a massive rate of innovation. The strength of the UK financial services sector, combined with a mature base in technological inventiveness means that we are seeing major opportunities for growth.
“The Sandbox is our way to connect with early stage businesses who need the expertise that we can provide. Navigating the regulatory minefield of the financial sector is not easy, especially when you are at the early stages of development and your team is likely to be small and naturally focused on technical product development. We can provide our experience and knowledge of the Fintech space, on top of a safe and secure managed services and data storage offering.
“We believe that by developing partnerships early, we can forge long-term relationships with customers and increase our presence in the market.”
The Bunker created the Sandbox with the belief that real productivity gains happen when security and general compliance checks are made throughout the Software Development Life-Cycle (SDLC). Repeat checks that start at the beginning of the cycle will ensure that a company’s infrastructure does not need to be rebuilt if gaps in compliance are discovered, and the resulting downtime can be reduced to a minimum. A solid basis, provided by the Sandbox, allows Fintech businesses to easily and effectively scale up as they on-board new customers or receive additional funding, removing the risk of over-expansion and controlling the cost of increased server usage.
In July, The Bunker successfully secured investment from Palatine Private Equity. Founded in 2005, Palatine Private Equity is an entrepreneurial, Partner led private equity business with a focus on backing like-minded people in the UK regional lower middle market. The Partners have over 80 years’ experience working with entrepreneurs and management teams in private equity backed businesses.
Palatine sees huge potential in The Bunker as an Ultra-Secure Managed Service Provider and plans to build The Bunker to create a full service cyber security business and several acquisitions to achieve this aim have already been identified.