Starling Expands Digital Banking to Europe

The U.K.-based digital bank Starling plans to offer its Banking as a Service across Europe, including France, Germany, the Netherlands and Spain, in the first half of 2022, according to a Crowdfund Insider report on Wednesday (Sept. 29).

“Starling as a Service” will allow companies or businesses to create savings or current accounts, integrated digital wallets, kids’ cards, debit cards and other financial products on Starling’s platform, per the report.

“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,” said Starling Chief Executive Anne Boden in the company announcement. “We have seen a consistent and growing demand for digital financial services, further accelerated by extended lockdowns and a shift in consumer behaviors in key European markets, and it is clear that Starling can power new and exciting opportunities for businesses across Europe,” she said.

Starling introduced BaaS in the U.K. in 2018 and has built the offering to 25 payment and banking services clients. The Starling Marketplace provides clients with “in-app access to a selection of third-party financial services,” according to the company website. The company has offices in London, Southampton, Cardiff and Dublin.

Related news: Starling Bank Buys Fleet Mortgages in $69.1M Deal

In July, Starling Bank announced its first acquisition, Fleet Mortgages, in a cash-and-share deal worth 50 million pounds (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.

Fleet Mortgages, which is based in Hampshire, has provided 2.3 billion pounds of mortgages to homeowners who plan to rent properties out to tenants.