UK digital-only bank Starling Bank eyes US expansion through software sales to other banks
Starling Bank has launched a push to sell its software to US lenders as it tries to capitalise on their outdated technology and boost its international growth. The company plans to sell its services to multiple mid-tier banks and credit unions in North America in the future.
The London-based fintech has called in advisers from Deloitte and PwC to find US clients for its Engine software, which allows lenders to design and build their own digital banking capabilities.
“The big focus this year is North America, focused on the US,” Engine chief executive Sam Everington said in an interview with the Financial Times. Everington said the fintech expected to sign a banking client in the “$5bn-50bn asset range” by early next year and had been meeting with lenders in the US.
Engine has set itself a target of reaching £100mn of annual recurring revenue, which Everington said it was “well on track” to hit “fairly quickly”.
Engine currently has three banking clients in Canada, Romania and Australia.
Dariusz Mazurkiewicz – CEO at BLIK Polish Payment Standard
Banking 4.0 – „how was the experience for you”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
