Since the outbreak of the coronavirus, many business owners have been at home trawling through business admin. At Starling, we want to make that less taxing.
Our Marketplace brings together products and services for your business, links them to your Starling account and enables you to manage and monitor certain information through the app. All this works through our open Application Programming Interface (APIs enable two applications to talk to each other) and real-time data integrations. It’s a secure and simple way to optimise what you get out of Starling, allowing you to link your bank account with a range of other services, such as insurance or accounting.
Feeling like you need a safety net? Have a look at what our insurance providers can offer. Business insurance specialist Digital Risks provides everything from professional indemnity cover to product and public liability insurance. It has customisable cover and flexible monthly subscription models to fit your business. If you choose to set up the integration, you’ll be able to keep track of your policy cover dates from within the Starling app.
When money is tight, the top priority for many small businesses is ensuring customer invoices are paid on time. That’s where invoice insurance provider Nimbla can help. If a client becomes insolvent, Nimbla will use risk modelling tools to make sure your invoices still get paid. Through the Starling Marketplace, you also have instant access to their free credit-checker tool, allowing you to better assess the financial risks of working with a new business partner.
Nimbla covers all insolvencies, except as a result of fraud. That means that issues related to the coronavirus are covered (terms and conditions apply). Naturally, Nimbla is constantly reevaluating, so be sure to read all policy documents before you sign up. If you decide to go ahead, you’ll be able to see the total number of invoices insured by Nimba and the insured invoice total in your Starling app.
Customers with a sole trader account can also sign up for life insurance through Anorak or phone insurance with so-sure.
If you’re self-employed, you’ll probably need to get your head around legal jargon and documents at some point. That might be reviewing terms and conditions for a new supplier or drawing up your first employment contract. Whatever form it takes, navigating legal terms with confidence can be challenging, which is where Sparqa Legal comes in.
Through the Starling Marketplace, Starling business customers - both sole traders and limited companies - can access legal guidance and documents by signing up to Sparqa Legal. There are more than 300 auto-documents and templates available to edit, save and store. Within your Starling account, you’ll be able to keep count of the number of saved legal documents you have. They offer monthly or annual plans for unlimited access to its service.
One of the most recent additions to the Marketplace is UnderPinned, a freelance management portal. Its ‘Virtual Office’ has tools for creating contracts, finding new projects, tracking deadlines and storing contacts. It also provides specific advice for freelancers on coping with changes due to the coronavirus.
Customers who sign up through Starling’s Marketplace will receive a 10% discount for either the annual or monthly membership. Within the Starling app, customers with an UnderPinned account can view key data points such as total pending invoice payments, number of portal views and number of messages. This is made possible by the two-way data flow between Starling and our Marketplace partners.
Getting more out of your bank account
Further integrations include accounting software from Xero, FreeAgent and QuickBooks and digital receipts from Flux. Starling is on a mission to build the best possible bank accounts for business. Our Marketplace is key to that goal. Manage your money and connect to services wherever you work - from the kitchen table to the garden shed - all from one app.