London, 9 March 2020: Starling, the leading digital bank, is joining Wales’ booming £8.5bn tech sector by creating 400 new jobs in its data science, fraud and customer services teams, at its new 14,000 sq. ft. Brunel House office.
The Welsh hub will enable Starling to maintain the growth of its business and personal banking offerings, and continue to better serve its rapidly growing customer base that has now reached 1.3 million accounts.
Anne Boden, Welsh native, CEO and founder of Starling Bank said: “The Welsh tech sector is one of the fastest growing digital economies outside of London. Cardiff is also a bright, dynamic and entrepreneurial city with a supportive ecosystem which we are looking to tap into as we continue to grow our business and personal accounts.
“We believe that London’s success as a fintech hub should enable it to spread wealth and jobs throughout the UK and the wider economy. That’s exactly what we’re doing with this office in Cardiff.”
Since Starling launched in 2014, it has built up a workforce of over 800 employees in London and Southampton and has thrice won Best British Bank in the British Bank Awards.
Ken Skates, Economy, Transport and North Wales Minister said: “I am absolutely delighted to welcome Starling Bank to Wales. Our thriving fintech ecosystem has seen a number of companies make the move to Wales following Welsh Government advice and support, and it’s fantastic Starling has decided to do the same, creating 400 new jobs with more to come.
“As a government, we can be rightly proud of our role in growing the financial and related professional services sector in what is a very competitive global business environment.”
Around 45,000 people are employed within the digital economy in Wales with main hubs focused in Cardiff, Newport, Swansea and Wrexham. Universities across the country also support the sector by producing around 7,500 computer science and engineering graduates each year.
Starling has made a strong start to 2020 as it confirmed last month that it has raised a further £60 million from its existing investors, Merian Global Investors and JTC. The bank has also confirmed that it will award shares to all employees, allowing everyone in the company to share directly in its success.
About Starling Bank
Starling Bank is a digital bank based in the UK. Its banking app offers personal, business, joint and euro current accounts on Android and iOS. The Starling Marketplace offers customers in-app access to a selection of third party financial services. Starling also offers B2B banking and payments services. Headquartered in London, with offices in Southampton and Cardiff, Starling is a fully licensed and regulated bank, founded by Anne Boden, former Allied Irish Banks COO, in 2014.
About Trade and Invest Wales
Building stronger foundations for growth, supercharging the industries of the future and empowering Wales’ regions are at the heart of Wales’ approach to economic development. Welsh Government’s unique Economic Action Plan drives change in policy, delivery, and our mind-set, to create an economy of inclusive growth that boosts our wealth and wellbeing, and narrows inequalities.
Our Economic Contract frames a new relationship with business based upon the principle of public investment with a social purpose as we help businesses respond to the challenges of the future.
We support businesses to: innovate and introduce new products and services; proactively support trade with the UK and the rest of the world; improve our skills base and ensure work is fairly rewarded; help develop new products; automate and digitise to ensure Wales remains competitive in the fourth industrial age; and enable more Welsh businesses to become carbon light or free.
Our Economy Futures Fund is a single consolidated fund that streamlines and simplifies our business support offer.
We also recognise our country’s diversity, and rather than a one size fits all approach, we are committed to strengthening regional collaboration and using local intelligence to tailor our national delivery.