Goldman Sachs-backed digital bank Starling to expand in hotly competitive Asia-Pacific market

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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."

 

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