Salt Bank partners Engine by Starling

Salt Bank, a subsidiary of Banca Transilvania Financial Group and based in Bucharest, Romania, has chosen Engine by Starling to power its new retail bank. Formerly known as Idea Bank, Salt Bank aims to disrupt the Romanian banking market by delivering a seamless digital user experience through its upcoming mobile banking app, set to go live in 2024 and accessible to both individuals and businesses.

Engine by Starling’s cloud-based banking platform, originally developed for Starling Bank in the UK, will play a pivotal role in enabling Salt Bank to offer a wide range of digital banking services to the Romanian market. With Engine’s proven success in the UK, where it has powered Starling Bank’s 3.6 million customer accounts as of March 2023, Salt Bank anticipates leveraging the platform’s capabilities for various functions.

One significant aspect of the partnership is the ability to digitally onboard customers, simplifying the account opening process. Salt Bank will also utilise Engine’s technology to efficiently manage accounts, offer savings products, process payments, and handle card transactions. Furthermore, the platform will support Salt Bank in managing and expanding its portfolio of unsecured lending products.

Engine’s SaaS capabilities will extend to operational management, utilising its proprietary operational portal. This portal encompasses functionalities such as customer services, financial crime monitoring and prevention, payment operations, card operations, loan servicing, and collections. The collaboration between Salt Bank and Engine is poised to enhance the overall banking experience for customers in Romania.

Gabriela Nistor, CEO of Salt Bank, expressed the institution’s strong ambition to disrupt the Romanian banking market by providing customers with simple and seamless digital experiences. The decision to partner with Engine was influenced by the platform’s success in powering Starling Bank in the UK, which has consistently delivered top-tier customer experiences to its 3.6 million account holders.

Sam Everington, CEO of Engine by Starling, emphasised their broader vision of bringing a modern banking platform to financial service firms globally. The collaboration with Salt Bank aligns with this vision, and together, they plan to create superior user experiences for customers in Romania, drawing inspiration from the success achieved by Starling Bank in the UK.