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Starling’s business banking tops ratings for quality

Digital bank Starling seized the top position in the CMA ratings business category.

Starling has also managed to secure second place behind its rival Monzo on the personal banking side.

Read also: Starling becomes second most switched-to bank in UK

The rest of the top five in business banking were, in order, Handelsbanken, Metro Bank, Santander, and Barclays and NatWest, who tied for fifth place in the list.

The CMA’s rankings were based on factors such as overall service management, account management, online banking, and overdraft and loan services.

SME customers with business current accounts were asked how likely they would be to recommend their provider, their provider’s online and mobile banking services, services in branches and business centers, SME overdraft and loan services and relationship/account management services to other SMEs.

The results show the proportion of customers of each provider, among those who took part in the survey, who said they were ‘extremely likely’ or ‘very likely’ to recommend each service.

“After just three years in business banking, we’re beating the incumbents and have a 6% market share for UK SME banking,” states Helen Bierton, chief banking officer at Starling. “Customers love that it is so simple and quick it is to open an account and that there are no monthly fees.”

“The past year has put financial pressure on many people and small businesses, and this is the first full set of results to reflect how banks have supported customers through this difficult period,” said Adam Land, senior director at the CMA. “If the service and quality offered by your bank has not been up to scratch, you may well be able to do better.”

Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

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