Banking

‘The platform has been designed to cope with working in different markets’: Inside Starling Bank’s evolution as a technology platform

  • UK digital bank Starling Bank is busy evolving into a technology business. 
  • The bank wants to keep padding its bottom line but without the tediousness that comes with a traditional international expansion. Instead, the bank is busy making a B2B pivot through its subsidiary Engine by Starling.
close

Email a Friend

‘The platform has been designed to cope with working in different markets’: Inside Starling Bank’s evolution as a technology platform

UK digital bank Starling Bank is busy evolving into a technology business. 

Started by a veteran in technology and banking Ann Boden, Starling Bank was built to give consumers a better banking experience on par with that of their favorite mobile apps. “Our current account is for people who find that every other part of their life can be delivered through their mobile phone and yet their banks aren’t keeping up,” said Boden in 2016 when the bank was still relatively new. 

Since then Starling Bank has been one of the few challenger banks in the UK that has been able to turn a profit. And it wants to keep padding its bottom line but without the tediousness that comes with a traditional international expansion. Instead, the bank is busy making a B2B pivot through its subsidiary Engine by Starling, which enables banks to use the same core banking platform that has powered Starling Bank since its inception. 

“Engine is the technology platform that was built to power Starling Bank, and this technology has been fundamental to Starling’s success. It was clear from the start that to deliver the digital-first, customer experiences that would set Starling apart and disrupt the market, we needed to build our own platform,” said Victoria Newton, Chief Product Officer, Engine by Starling.

Engine by Starling is used by Salt Bank in Romania and AMP Bank in Australia, and both geographies make sense because they are in close regulatory alignment with the UK, according to Engine by Starling’s CEO, Sam Everington. “Working and scaling into different markets poses unique challenges too, but the platform has been designed to cope with this, and we have an expert team and a growing network of partners to help our client banks on the journey,” Newton added. 

Newton also hopes that some of the experience the company and its platform gain in new markets can be brought back to the mothership and help “spark ideas that will better serve our UK bank,” she said. 

Engine by Starling has also recently partnered with GFT, a digital transformation company, which will provide design, integration, and implementation services to Engine clients. GFT’s role seems to be to remove roadblocks that FIs can face when taking on a digital transformation.


subscription wall for TS Pro

0 comments on “‘The platform has been designed to cope with working in different markets’: Inside Starling Bank’s evolution as a technology platform”

Banking, Embedded Finance

How Union Credit’s embeddable loan marketplace positions CUs for a digital-first future

  • Union Credit embeds digital lending into the buying journey, offering borrowers instant access to credit without needing to visit a CU branch.
  • Dave Buerger, CEO and co-founder of Union Credit, explains how the marketplace operates and how credit unions can transform initial loan interactions into lasting banking relationships.
Sara Khairi | December 12, 2024
Banking, Innovation

The Last Bank Branch? Not Quite, But Close

  • While banks spend a significant amount of their resources on maintaining their physical footprint, the success of digital banking has put into question the efficacy of this investment by incumbents.
  • Now banks need to find ways to compete in the digital realm and optimize their branch networks to function and complement an omnichannel banking world.
Zack Miller | December 11, 2024
Artificial Intelligence, Banking, Designing new products, Innovation, Partner

The call for Gen AI and why banks are slow to answer it

  • While fintechs are rolling out AI-driven tools for wealth management and tax planning, banks remain cautious, focusing on internal productivity rather than customer-facing products.
  • Apart from the compliance hurdles banks may be facing when it comes to deploying Gen AI, another reason for their slow movement may be the perceptions of their core consumer segment.
Rabab Ahsan | November 26, 2024
Banking, Partner, SMB Finance

The Future of Small Business Banking: Insights from Industry Leaders

  • Dive into the major themes related to SMB finance that dominated the discussions at this year's The Big Bank Theory Conference held in New York.
  • Executives from Mastercard, Truist, US Bank, Citizens, and Gusto explore how companies can build more powerful SMB strategies by centering communities and technology.
Zack Miller | November 20, 2024
Artificial Intelligence, Banking, Culture and Talent

Small bank, big moves: How a Maine-based bank is bringing over a thousand employees on its AI journey

  • Bangor Savings Bank is building employee skills in AI and data fluency, creating a workforce ready for the AI era and countering fears of job displacement.
  • The bank is using social learning, and role-based training to upskill its employees, as well as build a better foundation for its future initiatives.
Rabab Ahsan | November 05, 2024
More Articles