Salt Bank has launched less than one year after the project kicked off.
Salt Bank is the first neobank using Engine by Starling’s core banking system outside the vendor’s parent company, Starling Bank. It was implemented in partnership between GFT, Salt Bank and Engine by Starling. This continues a transformative trend GFT sees in financial services and beyond.
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GFT was engaged to provide overall design and integration services, relying on its deep expertise. The company specialises in launching banks on next-generation technologies. GFT developed onboarding capabilities as well as the technology model for Salt Bank. This will allow Salt to manage its ecosystem of services providers as its success grows.
“The launch of Salt Bank showcases our global leadership in digital banking on modern platforms. This is the latest of many modern banking platforms we have launched worldwide in the last two years,” said Carlton Hopper, Engine by Starling Executive Sponsor and UK Managing Director at GFT.
“We delivered an integrated, tailored, robust and secure banking platform for Salt. And as the first to deploy Engine’s flexible platform, the programme sets a new standard. It incorporates all the innovation from Starling, enhancing efficiency in the industry.”
“Our collaboration with GFT has set a new benchmark for digital banking,” added Gabriela Nistor, CEO of Salt Bank. “Salt’s rapid onboarding and advanced features reflect our commitment to providing seamless, cutting-edge financial services to our customers. GFT’s dedicated team of specialists have excelled in delivering our new bank within a very challenging timeframe.”
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By GlobalDataFully automated customer onboarding and advanced features
One of Salt’s early achievements is its fully automated and secure customer onboarding process, which takes just a few minutes.
Salt has also offered advanced features, such as multi-currency accounts and cards from the outset.
The bank onboarded over 100,000 customers within the first two weeks of the launch. Within a month it exceeded 200,000. Salt Bank is on track to reach its target of 1 million customers with the first three years of operation.
