Starling expands digital banking to Europe

British digital bank Starling plans to offer banking as a service throughout Europe, including France, Germany, the Netherlands and Spain, in the first half of 2022, according to a Crowdfund Insider report on Wednesday (September 29).

“Starling as a Service” will enable companies or businesses to create savings or checking accounts, integrated digital wallets, children’s cards, debit cards and other financial products on the Starling platform, the report said.

“The flourishing technology and FinTech scene in the European markets fits in perfectly with Starling’s culture of innovation and is therefore a natural place for us to offer and develop our solutions in Europe,” said Starling Chief Executive Anne Boden in the company announcement. “We have seen a steady and growing demand for digital financial services, which is being further accelerated by extended lockdowns and changing consumer behavior in key European markets, and it is clear that Starling can open up new and exciting opportunities for businesses across Europe,” said she .

Starling introduced BaaS in the UK in 2018 and expanded its offering to 25 payment and banking services customers. The Starling Marketplace offers customers “in-app access to a selection of third-party financial services”, according to the company’s website. The company has offices in London, Southampton, Cardiff and Dublin.

Similar news: Starling Bank buys fleet mortgages for $ 69.1 million

In July, Starling Bank announced its first acquisition, Fleet Mortgages, in a cash-and-share deal valued at £ 50 million (more than $ 69.1 million).

Starling hopes to expand into the mortgage sector with the addition of Fleet Mortgages, a move that is part of a larger plan to bolster lending through strategic arrangements, organic lending, and targeted mergers and acquisitions, the bank said in the announcement.

Hampshire-based Fleet Mortgages has provided £ 2.3 billion in mortgages to homeowners looking to rent properties to tenants.