8.6 C
New York
Friday, December 9, 2022
Home Challanger banks Standard Chartered launched Shoal with Starling Bank's BaaS

Standard Chartered launched Shoal with Starling Bank’s BaaS

Standard Chartered new fintech brand Shoal presents green digital banking platform and is powered by Starling bank’s digital platform.

Read also: N26 client acquisition gets limited by BaFin

In 2022, when the company is going to launch, Shoal will invest exclusively in green and sustainable projects.

This is supposed to change the market and give the power to the customers to select the types of projects their cash will fund.

Using Starling’s banking licence every account will be protected by the Financial Services Compensation Scheme.

This way Shoal can remain focused on customer acquisition and service.

The plan is to deliver a front-end app with a superior user experience, while Starling ‘powers’ the overall solution.

“While we looked to the COP26 conference to accelerate government action, our partnership with Starling Bank is an example of the private sector taking decisive steps to scale climate investment.”

“With Shoal, we’re excited to build a platform that will unlock much-needed retail capital to fund sustainable projects in parts of the world where the impact will be greatest and give savers the power to make good money, whilst making money do good.”

Anne Boden, CEO and founder of Starling Bank, says it will help Standard Chartered customers “live ever more sustainably”.

“Starling will handle the technical and regulatory demands behind the scenes, leaving Shoal to take care of their customers.”

Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

Curve has secured a $1 billion credit line from Credit Suisse to launch Curve Flex

Curve is a financial service provider that connects debit and credit cards into one. With great exchange rates, rewards, and insights across...

Revolut won’t refund money to a woman who got scammed of £8,000 from her Vaults

Deborah Wright lost £8,000 of savings from her Revolut accounts to fraud in October, BBC reported.

TS Anil, CEO of Monzo, claims the bank will turn into profit in 2023

“We will be profitable in the next financial year,” TS Anil, chief executive of Monzo, told the FT’s banking summit on Thursday.

Klarna launched the platform that helps retailers to increase sales by 300% 

Recently the world-leading global retail bank Klarna has launched their new Creator platform that helps retailers find influencers best suited to their...