Tangerine Bank Partners with Engine by Starling for a New Digital Banking Platform
Tangerine Bank, a subsidiary of Scotiabank, has entered a decade-long partnership with Engine by Starling, a banking software-as-a-service division of Starling Group. The partnership aims to provide over two million Canadian customers with a robust digital banking platform. The move is expected to significantly enhance the client experience by transitioning Tangerine’s core banking system to Engine’s cloud-native platform.
Unpacking the Features of the New Platform
The innovative platform supports a range of services, including digital onboarding, chequing accounts, savings, overdrafts, debit cards, and money management, all accessible through its mobile application. Engine by Starling is committed to contributing both the technology and a dedicated team based in Toronto to collaborate with Tangerine in delivering these enhanced digital services.
The platform is also designed to support Tangerine’s employees by consolidating account views and support tools. The primary focus is to reduce operational costs and complexity, making it a win-win situation for both clients and employees.
Tangerine’s Vision for Client-First Banking Services
Terri-Lee Weeks, the president and CEO of Tangerine, expressed her excitement over the collaboration with Engine. She stated, “Tangerine chose Engine to help build the future of banking services for our clients, delivering a premier banking experience with intuitive, personalised features that evolve with client needs.”
Weeks further added, “Engine’s modern core banking system uniquely provides an end-to-end platform on which Tangerine can innovate quickly and continuously, reducing the time-to-market for new products and features, and delivering world-class experiences for our clients, all while staying true to the client-first design that Tangerine is known for in Canada.”
Engine by Starling’s Global Footprint
Born from Starling Bank in the UK in 2022, Engine by Starling has a global footprint, supporting digital banking operations for Salt Bank in Romania and AMP Bank GO in Australia. Tangerine is Engine’s first client in North America, following the company’s recent expansion with new offices in New York and Toronto. This entry into North America is part of Engine’s broader strategy to support international growth and develop new capabilities for banking clients.
Engine by Starling CEO Sam Everington considers this partnership as a significant milestone and the largest deal they have signed to date. He stated, “Engine’s technology and operating model is a tried and tested blueprint for building market-leading digitally-native banks. It is a true fintech success story as we see our software enabling ambitious, innovative and customer-centric banks all over the world. This agreement with Tangerine shows just how scalable and adaptable Engine is.”
This collaboration signifies a significant leap in the digital banking services industry, promising a future where banking services are more client-centric, efficient, and technologically advanced.
For more details about this collaboration, visit the source article Here.
