Starling Bank CEO Provides Update on CBILS Lending, Doubles as Customer Support

Starling Bank, a leading UK digital bank, has been moving rapidly to implement COVID-19 business relief programs authorized by the UK government. Starling is the first Fintech to be approved as a Bounce Back Loan (BBLS) provider and, earlier this week, Starling and Funding Circle formed a partnership to process lending via the CBILS.

Today, via Twitter, Starling Bank CEO Anne Boden said they have been very busy “lending £258m to SMEs since Monday and also funding another £300m through Funding Circle. Getting the loans to the people that need them!”

It was previously reported that Starling Bank processed £90 million on the first day of BBLS.

One individual that apparently applied for a Bounce Back Loan said after completing the application process on Starling Bank the funds were delivered into his account 7 minutes later – highlighting the power of Fintech lending. That is pretty awesome.

 

Boden said they have been working around the clock to distribute funds under the BBLS.

 

Boden also took a minute to provide some digital customer support for an individual that needed some assistance in transferring some funds to a Starling account of a supplier.

 

I do not believe I have ever seen the CEO of a traditional bank provide this type of support via Twitter (or anywhere else for that matter).

 

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