UK digital bank Starling to expand business operations in Europe
UK based digital bank Starling expands its commercial activities in Europe.
From the first half of 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 allow businesses or businesses to create their own financial products on Starling’s banking platform, such as savings or current accounts, “integrated digital wallets, children’s cards and cards of debt”.
Starling says it will take care of technical and regulatory requirements “behind the scenes, letting businesses take care of their customers with innovative integrated banking solutions.”
Managing Director of the company Anne Boden declared:
“The flourishing technology and the fintech scene in European markets make it an excellent choice 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 steady and growing demand for digital financial services, further accelerated by prolonged bottlenecks and shifting consumer behavior in key European markets, and it is clear that Starling can generate exciting new opportunities for businesses across the board. ‘Europe. “
Starling introduced BaaS to the UK in 2018 and now has 25 banking and payment customers, including Raisin, CurrencyCloud, Moneybox and Vitesse.
Starling Bank is a fully licensed and regulated bank “built to provide people with a fairer, smarter and more humane alternative to banks of the past.”
It offers professional, personal and joint current accounts in euros and dollars as well as a children’s card. Starling also offers B2B banking and payment services through its BaaS model based on the proprietary technology platform it uses to “power its own bank”.
The Starling Marketplace offers customers “integrated access to a selection of third-party financial services”. Headquartered in London, Fintech has additional business locations in Southampton, Cardiff and Dublin.