Starling Bank is expanding its banking-as-a-service and payment services offer to enable other companies to offer retail banking and make payments.
Organisations will be able to launch their own bank accounts and provide customers with payment services, such as debit cards, through Starling’s APIs.
Businesses can choose product features from Starling using its banking licence and, therefore, do not need to become a regulated entity.
The specialist bank’s banking-as-a-service clients include French challenger bank Ditto, the Department for Work and Pensions and savings and investment marketplace Raisin UK.
Starling has also announced that it is working with Instarem, Vitesse, Incuto and AccessPay as well as having strategic partnerships with Vocalink, CurrencyCloud, Form3, Railsbank and Bankable.
Anne Boden, chief executive at Starling Bank (pictured above), said: “The banking transformation has begun, we’re enabling customers to pick and choose the applications and services they need and how they use them.
“The API economy is far more important and relevant to banking than PSD2 and Open Banking.
“It is changing the rules of the game and does not need legislation for its survival or existence.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
OakNorth adds former PRA director to advisory board
OakNorth has appointed Martin Stewart as an independent adviser on its advisory board...
HM Treasury to discuss diversity at FP Show
Representatives from HM Treasury’s Women in Finance Charter team will take part in a panel discussion on the role of diversity targets at the Finance Professional Show...
Aldermore agrees over £200m of new invoice finance facilities
Aldermore has announced that it has delivered over £200m of new invoice finance facilities to UK SMEs in the last 12 months...
CYBG completes acquisition of Virgin Money
CYBG has completed its acquisition of Virgin Money...
Penta raises €7m in latest investment round
Business bank account Penta has announced that it has raised €7m for its Series A investment round...
STB Commercial Finance opens Leeds office
Secure Trust Bank (STB) Commercial Finance has opened a new office in Leeds as it continues its national expansion...
Starling expands payment services and banking-as-a-service offer
Starling Bank is expanding its banking-as-a-service and payment services offer to enable other companies to offer retail banking and make payments...
Tandem launches Journey Card
Digital bank Tandem has launched a new credit card to help users who don’t have a credit history to build a strong profile...
Starling set to launch business accounts for multi-director limited companies
Starling Bank has announced that the bank would soon open its business accounts for limited companies with multiple directors...
Aldermore increases rates on business savings products
Aldermore has increased rates across its fixed rate and customised fixed rate (CFRA) business savings accounts...
Teachers Building Society amends lending criteria
Teachers Building Society has updated and amended its lending criteria to provide intermediaries with a detailed overview of its requirements for both teacher and non-teacher applicants...