Starling Bank has passed the three million current account milestone, which “includes more than 460,000 small business accounts,” according to a recent update.
This comes five years after the digital bank launched its Personal Current Accounts in May 2017, while its Business Current Accounts, which were released in March 2018 account for 8% of the UK SME banking market.
It has been an amazing year and a half for Starling. In the last 18 months, the bank has added one million users, secured more than £300m in funding and won best British bank for the fourth time at the British Bank Award.
“Starling has proven that technology can transform the banking experience and we’ve attracted millions of customers as a result,” Starling chief banking officer Helen Bierton said.
“Our technology platform was built to scale, so as we continue to launch industry-first products and features, we’re ready to onboard many more customers – and at pace.”
In the Competition and Markets Authority’s most recent independent survey, Starling “ranks No.1 for Overall Service Quality.” It also “ranks No.1 for Online and Mobile Banking Services for both its personal and small business accounts.”
Starling also “offers a B2B Banking as a Service and Software as a Service proposition, based on the proprietary technology platform that it uses to power its own bank.”
The Starling Marketplace “offers customers in-app access to a selection of third-party financial services.”
Just recently Starling has reportedly bought a £500m mortgage book from specialist lender Masthaven.