Following this announcement, Engine by Starling will provide banks and financial institutions with the needed access to the cloud native, modular, and API-based banking platform. GFT will also focus on offering design, integration, and implementation products to banks that adopted the Engine platform, as well as its deep engineering tools, expertise, global reach, and modern banking platforms.
In addition, by combining Engine by Starling’s technology with GFT’s expertise and focus on system integration, the collaboration aims to enable existing organisations to improve their digital banking services, and allow new banks to launch in a secure and quick manner.
In November 2023, Salt Bank announced its collaboration with Starling Bank in order to leverage the latter’s Engine platform for the development of digital banking services in the region of Romania. Throughout this strategic deal, Salt Bank was set to use the Engine platform to disrupt the overall banking in Romania by offering improved and secure digital customer experience to users who preferred mobile banking. In addition, the financial institution was expected to launch its application in 2024, which was aimed to be made available for businesses and individuals alike.
At the same time, Engine by Starling’s cloud-based banking platform allowed Salt Bank to provide a wide range of digital banking services to the Romanian market, as well as multiple other offerings and capabilities. Included in this list were the possibility to process payments and card transactions, the opportunity to onboard clients digitally, and the chance to grow a portfolio of unsecured lending products. This took place while the company managed their accounts and provided savings tools as well.
Earlier in August 2023, Starling Bank announced its plan to release its Engine Banking-as-a-Service (BaaS) platform in the Asia Pacific market, as the financial institution also partnered with a bank in order to leverage its software and suite of solutions. The strategic deal aimed to launch small and medium-sized accounts, rather than to offer users personal banking services and products. Engine was designed as an all-in-one system that enabled financial institutions and banks to develop and launch their digital banking services, including savings, loans, checking accounts, or mortgages, in a secure and efficient manner.
According to the press release published at the time, Starling Bank declined to comment or to provide more information on the bank or the country where the partnership was expected to take place, as it focused on respecting the confidentiality terms and conditions of the arrangement.
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