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 to double size of Manchester team
OakNorth has announced it will be doubling the size of its Manchester team due to an increase in demand for its loans in the region...
UTB hires Simon Burnell as head of product development
United Trust Bank (UTB) has appointed Simon Burnell (pictured above) as head of product development for its mortgages and bridging division...
Monzo raises £20m in latest crowdfunding round
Monzo has raised £20m in just over two days via its third crowdfunding round...
Could more banks look to use gamification?
Gamification is defined as the application of typical elements of game playing to other areas of activity, typically as an online marketing technique to encourage engagement with a product or service...
Bank Leumi (UK) appoints chief business officer
Bank Leumi (UK) has announced the appointment of Andy Mallin (pictured above) as chief business officer...
Handelsbanken launches UK banking subsidiary
Handelsbanken has launched its new UK subsidiary Handelsbanken PLC as it looks to continue the next stage of its growth in the UK...
Making the most of savings in 2019
Personal finance headlines and best-buy tables are dominated by retail savings products, with very few column inches dedicated to helping businesses determine the best places to stash their cash...
PCF posts 44% pre-tax profit increase
PCF Group PLC has reported a 44% increase in pre-tax profits to £5.2m (2017: £3.6m) in its preliminary results for the year ended 30th September 2018...
Mortgage Sleep Out raises over £100,000
Mortgage Sleep Out has raised more than £100,000 for End Youth Homelessness (EYH)...
Gatehouse Bank launches home purchase plan product
Gatehouse Bank has announced the launch of its first home purchase plan product after securing regulatory approval...
Monese offers free premium current accounts for dual UK/EU citizens
Monese has announced the launch of free premium current accounts for those holding dual EU/UK citizenship...