Tangerine Bank, a subsidiary of Scotiabank, has signed a ten-year agreement with Engine by Starling, the banking software-as-a-service division of the Starling Group, to offer a new digital banking platform for over two million Canadian customers.
Under the partnership, Tangerine will transition its core banking system to Engine’s cloud-native platform to boost its client experience.
The platform supports digital onboarding, chequing accounts, savings, overdrafts, debit cards, and money management features through its mobile application.
Engine by Starling will provide both the technology and a dedicated team in Toronto to collaborate with Tangerine on the delivery of enhanced digital services.
The platform is expected to support Tangerine’s employees by consolidating account views and support tools, with a focus on reducing operational costs and complexity.
Tangerine president and CEO Terri-Lee Weeks said: “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.
“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.”
Tangerine Bank, a subsidiary of Scotiabank, provides digital banking services to Canadians, offering everyday banking products via digital and mobile channels.
Engine by Starling, which emerged from Starling Bank in the UK in 2022, supports 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 that included new offices in New York and Toronto.
Engine’s entry into North America is part of a broader strategy to support international growth and develop new capabilities for banking clients.
Engine by Starling CEO Sam Everington said: “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 is a major milestone and the largest deal we have signed to date, showing just how scalable and adaptable Engine is.”
