- UK-based Starling Bank is bringing its SaaS banking platform, Engine, to North America with a $50 million investment, a new New York headquarters, and new leadership under Jody Bhagat.
- With 4,000+ US banks and credit unions weighed down by legacy cores, Engine aims to deliver modular, API-based, cloud-native tech proven in Europe and Australia.
- Starling’s move positions it not just as a digital bank, but as a banking technology competitor to legacy core providers.
UK-based Starling Bank announced last week that it is bringing its digital banking platform, Engine by Starling, to North America. The move marks the next step in Starling’s transformation from a digital bank into a global technology provider.
Starling launched Engine in 2022 to take its technology stack that powered Starling’s own growth in the UK and package it as a SaaS solution for other financial institutions. Expanding into North America signals Starling’s ambition to compete in one of the world’s most crowded banking technology markets.
Behind the launch are both a new regional headquarters in New York and a new leader. Starling appointed former Personetics President of Global Banking Jody Bhagat to bring Engine into the new region. Bhagat now serves as President of North America for Engine by Starling, and has been tasked with building a team to bring Engine to North American financial institutions. The company sees the move as a natural addition, given the new market opportunities with the region’s 4,000+ mid-tier banks and credit unions.
“The North American market is highly competitive, and many banks and credit unions feel constrained by legacy technology,” said Bhagat. “Digital-forward financial institutions are seeking a partner that can deliver technology transformation that drives real business results. Tried and tested in Europe and Australia, Engine by Starling has strong proof points demonstrating how the platform helps banks better acquire and serve customers. I’m incredibly excited by the opportunity to bring Engine’s proven, cloud-based banking tech to North America. Progressive mid-tier banks and credit unions are seeking ways to operate more efficiently, to serve their customers digitally in a more intuitive way, and to innovate more rapidly. Engine’s distinctive platform and capabilities will enable them to do just that.”
Starling is fueling the move into North America by investing $50+ million in its North American footprint, including its New York office, local hires, employees brought in from Starling’s UK-based team, and a Toronto-based Canadian team.
The move into New York isn’t Starling’s only new office supporting Engine this month. The bank also opened offices in Dubai, UAE, and Sydney, Australia to work with the digital banking tool’s international clients and partners
Starling was founded in 2014 and launched Engine to bring Starling’s tech stack to financial institutions overseas. Engine provides SaaS banking technology to bring modern banking to banks around the world in a modular, API-based, cloud-native, and scalable way. In 2024, the company’s first customer, Salt Bank, became Romania’s first digital-native bank and has since captured 4% of the country’s banking market.
Starling’s push into North America highlights the rise of banks evolving into technology providers. By turning its in-house tech into a SaaS platform, Starling is positioning itself not just as a challenger bank, but as a challenger to the core banking vendors that dominate the US market. For mid-tier banks and credit unions struggling with legacy cores, the arrival of Engine creates both pressure and opportunity to modernize quickly.