Starling Bank takes BaaS to Europe

UK-based Starling Bank is expanding its footprint into Europe with the launch of its banking-as-as-service (BaaS) offering in several countries.

The digital bank launched BaaS in the UK in 2018 and hopes to make this solution available in the EU, including in France, Germany, the Netherlands and Spain, in the first half of 2022, subject to regulatory approval.

Known as ‘Starling-as-a-Service’, the new offering will enable businesses to build their own financial products on Starling’s banking platform, such as savings or current accounts, integrated digital wallets, kids’ cards and debit cards.

Starling Bank CEO Anne Boden said: “The thriving technology and fintech scene in European markets makes them a great fit for the culture of innovation at Starling, and therefore a natural space for us to offer and develop our solutions in Europe.

“We have seen a consistent and growing demand for digital financial services, further accelerated by extended lockdowns and a shift in consumer behaviours in key European markets, and it is clear that Starling can power new and exciting opportunities for businesses across Europe.”

In the UK, the bank’s BaaS offering has 25 payment and banking services customers, including Raisin, Currencycloud, Moneybox and Vitesse.

Earlier this year, Starling Bank’s chief technology advocate Jason Maude revealed why speed and security are “not in conflict” during an episode of Open Banking Expo TV.