UK’s Digital Bank Starling to Expand Business Operations into Europe

UK-based digital bank Starling is expanding its business operations into Europe.

As of H1 2022, “subject to regulatory approval,” Starling intends to make its Banking as a Service (BaaS) solution offering available in the European Union, which includes France, Germany, The Netherlands and Spain, according to an update shared with CI.

“Starling as a Service” will enable companies or businesses to create their own financial products on Starling’s banking platform, such as savings or current accounts, “integrated digital wallets, kids’ cards and debit cards.”

Starling says it will take care of the technical and regulatory requirements “behind the scenes, leaving businesses to take care of their customers with innovative embedded banking solutions.”

Company Chief Executive Anne Boden stated:

“The thriving technology and fintech scene in European markets makes them a great fit for the culture of innovation at Starling, and therefore a natural space for us to offer and develop our solutions in Europe. We have seen a consistent and growing demand for digital financial services, further accelerated by extended lockdowns and a shift in consumer behaviours in key European markets, and it is clear that Starling can power new and exciting opportunities for businesses across Europe.”

Starling introduced BaaS in the United Kingdom back in 2018 and now has 25 payment and banking services clients, including Raisin, CurrencyCloud, Moneybox and Vitesse.

Starling Bank is a fully-licensed and regulated bank “built to give people a fairer, smarter and more human alternative to the banks of the past.”

It provides business, personal, joint, euro and dollar current accounts along with a child card. Starling also offers B2B banking and payments services via its BaaS model based on the proprietary tech platform that it uses to “power its own bank.”

The Starling Marketplace provides clients “in-app access to a selection of third-party financial services.” With head offices in London, the Fintech firm maintains additional business locations in Southampton, Cardiff and Dublin.

Sponsored Links by DQ Promote

 

Send this to a friend