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
CivilisedBank changes name
CivilisedBank has announced that it has changed its name to Allica as it prepares to launch...
Gatehouse Bank closes £100m of commercial property finance
Gatehouse Bank’s commercial real estate team has completed £100m of finance for the first time this year...
Revolut granted European banking licence
Revolut has announced that it has secured its European banking licence...
Starling hires head of SME banking
Starling Bank has announced the appointment of Stuart Doignie as its head of SME banking...
Local brewery secures backing from Development Bank of Wales
The Development Bank of Wales has part-funded a £134,000 capital investment project by Wild Horse Brewing Company...
Metro Bank adds international payments to mobile app
Metro Bank has enhanced its mobile app with the introduction of international payments for its personal and business customers...
How digital technology can help high street banks innovate
As society moves more and more towards a digital future, the closure of retail bank and building society branches is anticipated to accelerate...
Mortgage Industry Collective releases charity single
A group of mortgage professionals have collaborated to release a Christmas charity single to raise money for End Youth Homelessness...
City of London Group appoints first NED for Recognise
City of London Group PLC (COLG) has named Simon Wainwright (pictured above) as the first non-executive director for its subsidiary Recognise Financial Services...
BBB names network director for North and Midlands
The British Business Bank (BBB) has appointed Geoff Whiteland as its new UK network director for the North of England and the Midlands...
Wyelands Bank completes ABL deal for stainless steel supplier
Wyelands Bank has completed a seven-figure, asset-based lending deal for AD Bird Stainless Limited...