Starling, which is backed by Goldman Sachs, is in talks with an Asian bank about launching its Engine banking-as-a-service platform in the Asia-Pacific market.
Engine is a technology platform that Starling licenses out to other financial technology firms and large banks.British digital bank Starling is planning its first expansion outside of Europe, targeting a move into Asia-Pacific, CNBC has learned.
Starling declined to identify the country or Asian bank, given the confidentiality of the arrangement. However, Drewett said the bank Starling is partnering would use the company's software to launch small and medium-sized enterprise accounts, rather than to provide personal banking services. "We're quite happy with the pace that we can absorb the implementation — and that will accelerate with every implementation. It will never completely be cut and paste, but it will be able to accelerate as we become more material."
"We're positioning this as a partnership, not just a software-as-a-service transaction," Drewett said. "We recognize this is a material decision for a bank which needs regulatory approval. Our approach to it is [that] this is a long-term partnership. That resonates."
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US court rules no class action on Goldman Sachs crisis-era claimsGoldman Sachs shareholders cannot go forward with a class action alleging the bank misled investors about its business practices ahead of the subprime mortgage crisis, a U.S. appeals court ruled on Thursday.
Read more »
A day in the life of a Goldman Sachs internInside Goldman Sachs' coveted summer internship for aspiring investment bankers, where there's no such thing as 'busy work.'
Read more »
Is David Solomon Too Big a Jerk to Run Goldman Sachs?For a while, as long as money was made, it didnt matter if his bankers didn’t like Goldman Sachs CEO David Solomon personally. Now, that understanding is reaching a breaking point. jenwieczner reports:
Read more »
Artist Todd Goldman files $55M suit against ex-pal, businessman for ‘stealing’ hundreds of paintingsAn artist claims two men held hundreds of his paintings “hostage” so they could ultimately copy and reproduce them without his permission, a new suit alleges.
Read more »
Asia markets poised for weaker open ahead of U.S. inflation dataThe U.S. consumer price index is expected to come in at 3.3% for July, slightly higher than the 3% for June
Read more »
Exclusive: Biden unlikely to attend ASEAN summits in September on trip to Asia -sourcesU.S. President Joe Biden is unlikely to attend summits with Southeast Asian leaders in Jakarta next month, multiple sources told Reuters, an absence that would raise questions about U.S. commitment to a region vital in its efforts to push back against China's expanding influence.
Read more »