Starling Bank has signed a ten-year deal to implement its core banking software, Engine, at Canada's Tangerine Bank, a digital offshoot of the Bank of Nova Scotia.
With Engine’s SaaS platform, Tangerine’s two million clients will be availed of digital onboarding, chequing accounts, instant access savings, overdrafts, debit cards and smart money management features such as card controls and spending insights, delivered through an intuitive mobile app.
Behind the scenes, Engine’s end-to-end platform will provide a simplified account view and consolidate the support tools Tangerine needs to reduce operational cost and complexity for employees.
Tangerine becomes Engine’s first North American client after the British firm opened offices in New York and Toronto earlier this year. The company currently supports Salt Bank in Romania and AMP Bank GO in Australia.
Sam Everington, CEO of Engine by Starling, says: “Engine’s technology and operating model is a tried and tested blueprint for building market-leading digitally-native banks. It is a true fintech success story as we see our software enabling ambitious, innovative and customer-centric banks all over the world. This agreement with Tangerine is a major milestone and the largest deal we have signed to date.”
Tangerine, previously known as ING Direct, was rebranded after Scotiabank bought the business for C$3.1 billion in 2012.