Starling flies into banking-as-a-service space

Starling flies into banking-as-a-service space

Starling is moving into the banking-as-a-platform space, enabling third party companies to craft their own financial services offerings using the challenger's banking licence and API infrastructure.

Starling says the service bundle will enable retailers, brands and fintechs to develop and scale a suite of customised products, such as savings or current accounts and debit cards, with just a few lines of code.

The bank has already signed its first partnership with savings marketplace Raisin, which will use Starling's API to open accounts for each customer, collect their deposits and place them with their panel of banking partners.

Anne Boden, chief executive of Starling Bank, says: “Platform strategies have taken off in many other industries, with Airbnb, Uber and Apple becoming major players in the markets for accommodation, transport and music and yet owning no properties, vehicles or content themselves. As a new generation digital bank, Starling is now bringing the model to UK banking, enabling other businesses to build banking services on top of its own-label banking infrastructure."

Comments: (2)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 03 August, 2018, 17:46Be the first to give this comment the thumbs up 0 likes

flys? Am I missing some kind of phonetic pun in that spelling??

A Finextra member
A Finextra member 04 August, 2018, 02:59Be the first to give this comment the thumbs up 0 likes No pun there....It appears to just be a Finextra typo!