The new, digitally-native mobile bank, which will launch to customers by January 2017, is part of the next-generation of banks, disrupting the traditional banking model and streamlining the way consumers manage their money.
Whereas traditionally, customers have spread their finances over different accounts, loans and cards, Starling Bank will use data-led insights to give customers a clear picture of their entire financial situation, with the convenience of doing everything from one account.
The bank will also give customers insights about their spending habits, allowing a new level of control over spending and saving, as well as benefiting from the latest security features, card control technology and real-time notifications. Further features will be co-created with Starling Bank’s customer community in the coming months.
“We are delighted to have the confidence and support of the regulator, to move forward and introduce a new style of banking,” said Anne Boden, CEO, Starling Bank. “For the past year, our team has been focused on building our product and technology from the ground up. By 2020, the number of UK mobile banking users will double from 17.8 million to 32.6 million and our aim is to empower these people to better manage their finances with an incredible app, purpose-built for those who happily manage their lives on their phone.”