Engine by Starling, the software-as-a-service division of Starling Group, has signed an agreement with SBS Bank, a New Zealand-based mutual bank.
This is Engine’s fourth international contract.
SBS Bank, which has transitioned from its beginnings as a building society, is set to upgrade its core banking infrastructure using Engine’s cloud-based platform.
The move will introduce digital onboarding, fraud protection tools and standard banking features such as card checks and spend analytics via a mobile app.
Mark McLean, CEO of SBS Bank Group, said: “Engine was developed by the UK’s leading digital bank, Starling, and will deliver world-class capability to our members and New Zealand.
“By partnering with Engine, we will combine the best of what SBS Bank offers today with globally acclaimed banking expertise, to create a more modern, secure experience for our members and enable our people to continue providing the excellent service they provide today.”
Engine’s software aims to optimize account management and support services for SBS Bank.
Deloitte has been appointed to assist in the implementation of the new system.
The collaboration adds to Engine’s portfolio, which includes supporting banks such as Starling in the UK, Salt Bank in Romania and AMP in Australia.
The company’s first North American deal was signed last year with Tangerine Bank in Canada.
Recently, the Financial Times reported that Starling will make its Engine platform available to US banks.
Sam Everington, CEO of Engine by Starling, added: “Welcoming SBS Bank as our first mutual customer is powerful evidence of Engine’s adaptability across all customer bases and product profiles. We have a proven roadmap for ambitious customer-centric banks looking to deliver brilliant digital experiences.
“Engine is a proven platform that works for large-scale banking transformations, financial institutions unlocking new segments, new digital banks and community-focused mutuals. This milestone demonstrates that our technology can be flexible, scaled and evolved to meet the needs of many different banking models.”
“Starling’s Engine Expands to New Zealand with Partnership with SBS Bank” was originally created and published by Retail Banker International, a brand owned by GlobalData.
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