Salt Bank is a new digital competitor in Romania's banking market.

Established by GFT, the experts in digital transformation, in collaboration with Engine by Starling, Salt Bank is the first neobank to use the vendor's core banking system outside of Starling Bank, the parent firm.

Although Salt Bank's introduction signifies more competition in the Romanian market, its rise is arguably most noteworthy for another reason: even by today's standards, it was constructed and launched in less than a year.

Using cutting-edge technology to expedite onboarding at Salt Bank

With Salt Bank up and running in less than a year, GFT can only hope that this revolutionary trend in the banking sector will continue.

By embracing a "platform of platforms" strategy and reimagining their technological capabilities, financial institutions are consuming pre-made capabilities from the larger digital sector.

Salt Bank, which has already onboarded over 300,000 clients using fully automated client acquisition tactics, has had great success with this strategy as well.

Because of its extensive experience launching banks on next-generation technology, GFT was chosen to supply the bank's comprehensive design and integration services.

This involved creating Salt Bank's technological model and onboarding capabilities, which are intended to help Salt efficiently manage its network of service providers as it grows in popularity.

Executive Sponsor of Engine by Starling and UK Managing Director at GFT, Carlton Hopper, says: "With the launch of Salt Bank, we are showcasing our global leadership in digital banking on contemporary platforms." We have released many contemporary banking systems globally over the past two years, this being the most recent.

"We provided Salt with an integrated, customised, reliable, and secure financial infrastructure. Additionally, the software establishes a new benchmark being the first to use Engine's adaptable platform. It improves industrial efficiency by incorporating all of Starling's innovations.

Easy onboarding of new customers

In fact, Salt Bank's quick acquisition of a sizable client base was one of its early triumphs. In only the first two weeks of its soft launch, the bank was able to onboard 100,000 customers using the fully automated, secure process, which takes only a few minutes.

With this quick pace of client acquisition, Salt Bank will definitely meet its three-year aim of one million customers.

The bank already offers a wide range of cutting-edge services, such as cards and accounts that can handle several currencies.

Salt Bank prioritizes the client experience right from the start with products that are customized for regional markets.

The CEO of Salt Bank, Gabriela Nistor, continues, "Our partnership with GFT has raised the bar for digital banking.

"Salt's quick onboarding process and cutting-edge features demonstrate our dedication to giving our clients smooth, state-of-the-art financial services. Our new bank has been expertly delivered by GFT's committed team of professionals in a very difficult timetable.

Ironically, it has taken an international effort from GFT staff in the UK and Poland to meet the demands of Romanian people and create a local bank.

This is not only about infrastructure; it's also about pooling industry expertise from the banking sector to effectively serve the local market.

GFT assisted Salt Bank in launching its program, carrying out the change and getting ready for launch, and assisting in getting the new Salt Bank team ready for success in the future.

"Our platform was effectively integrated by GFT for the Romanian market, delivering feature-rich and highly personalized banking products that can be deployed around the world to attract impressive customer volumes," says Sam Everington, CEO of Engine by Starling, in closing.

"The implementation was completed by GFT's specialized team, who also recognize the great potential of our platform."