Engine, the banking software-as-a-service offering from the London-based digital bank Starling, is entering its fourth international market through a deal with New Zealand-owned mutual SBS Bank.
The bank’s Engine product has been a fast-growing element of Starling’s business. Though it currently earns just a fraction of what the group’s banking operations pulls in, the most recent figures (for FY25) saw the revenue generated by Engine increased by almost 300% annually, reaching £8.7m.
Starling has so far supplied its Engine SaaS product, which gives businesses access to Starling’s banking infrastructure and technology, to international groups including Salt Bank in Romania, AMP in Australia and Tangerine Bank in Canada.
“We have a tried and tested blueprint for ambitious customer-centric banks looking to deliver brilliant digital experiences,” said Sam Everington, chief executive of Engine by Starling.
“Engine is a proven platform that works for large scale bank transformations, financial institutions unlocking new segments, new digital-first banks and community-focused mutuals. This milestone demonstrates that our technology can flex, scale and evolve to meet the needs of many different banking models.”
The latest deal with New Zealand’s SBS Bank marks the fourth International expansion of the product and suggests its impressive growth could continue.
“By partnering with Engine, we’ll combine the best of what SBS Bank offers today with globally acclaimed banking expertise to create a more modern and secure experience for our members and enable our people to continue to deliver the outstanding service they provide today,” said SBS Bank chief executive Mark McLean.
