Challenger bank Starling said it will need to sell its software to other banks to fulfil its global ambitions rather than expand via its core consumer digital banking offering, and has set its sights on Europe, the US and – potentially – Australia.

Chief executive Anne Boden said it would instead use its software-as-a-service product – Engine – to get a foothold in foreign markets: “[SaaS] will give us the global footprint, not just a footprint in Ireland and Europe that the Irish licence would give us.”