Starling's SaaS business Engine scoops biggest client win, banking Canadian neobank

Starling Bank's Software-as-a-Service (SaaS) business, Engine, has secured a significant deal with Tangerine Bank, a digital subsidiary of Canada's Scotiabank. This move marks Engine's largest client win to date and signifies a major expansion into the North American market, impacting the broader landscape of cloud-native banking solutions. The 10-year agreement will see Tangerine Bank upgrade its core digital banking system, leveraging Engine’s platform. Engine's cloud-native banking platform offers a comprehensive suite of services, including digital onboarding and savings accounts, with the upgrade expected to reduce operational costs and complexity for Tangerine. Engine’s expansion into North America follows the establishment of offices in New York and Toronto earlier this year. The UK-headquartered Engine, which employs around 300 people, plans to recruit approximately 100 additional staff. The deal will affect over two million Tangerine customers, promising a smoother banking experience through Engine’s technology. This win positions Engine as a key player in the global fintech market, competing with established providers. Engine's success reflects a strategic shift by Starling, which has pivoted from European expansion through licensing to offering its technology on a SaaS basis.