UK challenger bank Starling is working with an Asian lender about taking its Engine banking-as-a-service platform outside of Europe for the first time.
In brief:
-In an interview with CNBC, Starling chief commercial officer Nick Drewett says that the unknown partner is planning to use Engine to launch small and medium-sized enterprise accounts in an Asian country.
-Launched last year, Engine provides banks and fintechs with a white-labelled out-of-the-box platform for a host of services.
-Starling has been betting on Engine to drive its international expansion since deciding to pull the plug last July on moving into Europe through an Irish banking licence.
What does this mean?
Speaking to CNBC about the Asian deal, Drewett says: “It’s a different proof point for us: one in Europe, one in Asia-Pacific. We’re quite happy with the pace that we can absorb the implementation — and that will accelerate with every implementation."
