As promised the Starling Bank deep-dive report is out NOW! 🎉🎊
The in-depth analysis on Starling Bank has been coming for some time now, but we just had to include all the new information the company has shared in the last few weeks 📒
We have put everything you need to know about the neo-bank, from the very beginning with all ambition and uncertainty that its CEO and founder @anneboden faced and continues to do so. To how today it is one of the few digital banks to be profitable, only last week it announcing its first-ever annual profit 🤩
You can have access to the report here, or subscribe to our member's area and have this, all the other deep-dives and so much more!
We also have a blog post about the digital bank to get you started...
Starling Bank: Money-making In Digital Banking
Starling Bank doubly differentiated itself from competitors in the UK. Anne believed and prioritised building customer trust over acquisition, so Starling went on to obtain a full bank charter from start. After 2 years of processing Starling received a full banking license from the Prudential Regulation Authority and the Financial Conduct Authority in 2017, launched to the public the same year, but sadly missed the first wave of early adopters.
Starling Bank saw its biggest growth spurt in 2019-2021, triggered by the Covid – 19 pandemic and the ensuing influx of grants worth £100 million from the Capability and Innovation Fund (CIF), administered by Banking Competition Remedies Limited (BCR), and leading investors Goldman Sachs and QIA, led Starling to further develop its banking products, BaaS platform, business lending services, and marketing projects.
Starling’s unique value proposition through its BaaS platform gives the Bank “first-mover” advantages in the SMB market, in which it currently holds about 8% of market share. Through continued collaboration with the Recovery Loan Scheme (RLS), combined with the BaaS platform, this number can only increase, as will Starling’s reputation as an innovator in the financial services industry.
Keep reading here.
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The C-Innovation Team