- The Starling Marketplace will be a “app store” for financial products all in one place
- Customers will be able to access loans, mortgages, isa’s and other investment products through the Starling Bank app
Starling Bank is the first mobile only bank to be granted approval from the Prudential Regulation Authority and the Financial Conduct Authority to offer customers direct access to a wide range of financial products, including loans, mortgages, Isa’s and other investment products, all from within its app.
This is the next step in the Bank’s plan to use Open Banking regulations to give financial control back to its customers, and builds on existing partnerships with financial companies such as Moneybox, Yolt and Yoyo wallet.
This announcement is the latest in a number of firsts for the bank, including being the first to offer apple, android and FitBit pay to consumers.
The announcement provides a glimpse of what the upcoming Open Banking framework will mean for consumer banking and demonstrates the real-life, tangible benefits that open and permissioned sharing of data can bring.