Starling has announced plans to expand across Europe during the first half of next year.
Subject to regulatory approval, the UK digital bank hopes to make its Banking as a Service (BaaS) solution available in the European Union, including France, Germany, The Netherlands, and Spain.
Starling, which launched its BaaS offering in the UK three years ago, has 25 payment and banking services customers, including Raisin, CurrencyCloud, Moneybox, and Vitesse.
The bank said that ‘Starling as a Service’ enables businesses to build their own financial products on its banking platform, such as savings or current accounts, integrated digital wallets, kids’ cards, and debit cards, while Starling handles the technical and regulatory demands behind the scenes.
In July, Starling Bank reported revenue growth of nearly 600 per cent to £97.6 million for the period ended 31 March.
“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,” said Anne Boden, chief executive of Starling. “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.”
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