Tangerine Bank has launched Tangerine Business, a new digital banking offering for Canadian entrepreneurs powered by Engine by Starling’s cloud-native banking platform.
The new proposition is being rolled out in phases, beginning with the Tangerine Business Founders Circle, a select group of business owners from a range of industries. A waitlist is also open for entrepreneurs looking to access the service as the rollout expands.
Tangerine Business has been designed as a mobile-first banking experience, providing business owners with a range of tools covering day-to-day banking, savings and cash flow management.
The offering includes a Tangerine Business Spending Account for daily transactions, a Tangerine Business Savings Account for managing business reserves and Tangerine Business FlexiDraft, which provides flexible funds to support business continuity and cash flow. It also includes Spaces, allowing customers to organise money into dedicated areas for saving, spending and budgeting.
The launch comes less than 12 months after Tangerine and Engine by Starling agreed a 10-year partnership to upgrade the Canadian bank’s digital banking systems. The deployment marks Engine’s first North American launch and its third international deployment within a year, following its work with Salt Bank in Romania and AMP Bank GO in Australia.
Tangerine Bank, which is owned by Scotiabank, serves more than two million clients across Canada and was established as the country’s first digital bank. Engine by Starling was launched as a standalone business in 2022 and provides its cloud-native banking technology to financial institutions looking to modernise their digital banking operations.
The companies said the new platform will give Tangerine greater flexibility to develop and launch products, while allowing it to respond more quickly to changing customer needs.
Terri-Lee Weeks, President and CEO of Tangerine, said: “When entrepreneurs thrive, Canada thrives. Supporting them means creating intuitive banking experiences that help them move forward with confidence.”
Sam Everington, CEO of Engine by Starling, added: “Tangerine shows that Engine travels. Launching in less than 12 months makes this our third client deployment in a third international market, delivered in under a year.”
Engine by Starling’s technology was originally developed to power Starling Bank in the UK and has since been made available to other financial institutions through its Software-as-a-Service model. The company is continuing to expand internationally, with Tangerine representing a significant step into the North American banking market.
