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Starling Bank - A Cloud Bank


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Starling Bank's slides from the AWS Pop-up Loft London evening event Open Banking: Innovation for Customers.

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Starling Bank - A Cloud Bank

  1. 1. A Cloud Bank 20th September 2017 Sam Everington Lead Engineer @samever
  2. 2. So we built a bank from scratch Founded by Anne Boden 2014 Jan 2016 Starling raises $70M July 2016 PRA grants banking license. 1st live account September 2016 MasterCard Debit cards November 2016 Alpha testing consumer app January 2017 Starling becomes 13th member to join Faster Payments December 2016 Processing direct debits February 2017 Launched Beta testing program May 2017 Public App Store Launch June 2014 Kick-off with Regulators September 2015 Started building the prototype July 2017 Apple Pay Sept 2017 Android Pay
  3. 3. Entirely Mobile Banking - Debit Card, Faster Payments, Direct Debits, Current Account Switch Service, Apple & Android Pay Instant Spending Insights - Starling Pulse, Instant notifications, Merchant and Category Groupings, Maps and Logos Overdraft Controls - Adjust in app (within an agreed limit), with clear fee structure and charges Best for Travel - Pay zero fees abroad (card usage or cash withdrawal) Card Control - Lock your card if you misplace it; unlock it if you find it. Public API - Open to all third party developers; customers own their data and choose who to share it with
  4. 4. security > resilience > scale
  5. 5. velocity > economy
  6. 6. architect for change
  7. 7. embrace cloud
  8. 8. a Starling service • everything in our core infrastructure is either: immutable service in EC2 (docker on CoreOS) data in a managed service • simple AWS approach - not small • ELB / ASG / RDS across 3 AZs in eu-west-1 • “service discovery” is just DNS (Route53) • all specified in CloudFormation nested templates • with configuration and versions in S3
  9. 9. production chaos • we know we’re resilient because we kill servers all the time
  10. 10. Taking it to the next level Insurance FX Connectivity Where I spend Mortgages Other current accounts Loans Investment A marketplace for the best products, solving money problems
  11. 11. Marketplace for your financial life
  12. 12. PSD2 & Open Banking • PSD2 allows AISPs & PISPs (TPPs) to access data about a PSU held by an ASPSP via an API • (subject to the RTS for SCA being defined by the EBA)
  13. 13. PSD2 & Open Banking • Open Banking UK legislation for the big 9 banks Read balance & transactions, instruct payments • Payment Services Directive 2 (PSD2) EU legislation for the payment industry Standardises compliance, regulation and capabilities
  14. 14. The future • Banking could become a commodity service Transparent banking • Mix and match products / providers • New ways to pay • New industries we never thought of
  15. 15. Risks & Challenges • Money laundering / fraud • Sanctions • Security vs. simplicity • Trust and accessibility • Data protection
  16. 16. Getting involved • Marketplace • API Developers • Customers • Community
  17. 17. SAMUELEV @samever