Digital Banking: UK’s Starling Bank Passes 3 Million Account Milestone

Starling Bank has passed the three million current account milestone, which “includes more than 460,000 small business accounts,” according to an update shared with CI.

This key milestone comes five years after the digital bank launched its Personal Current Accounts in May 2017, while its Business Current Accounts, which were minted in March 2018, now “account for 8% of the UK SME banking market.”

Helen Bierton, Chief Banking Officer at Starling Bank said:

“Starling has proven that technology can transform the banking experience and we’ve attracted millions of customers as a result. 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.”

This milestone is the latest in Starling’s growth, “with data from the Current Account Switching Service revealing that Starling gained more net switches in 2021 than any other bank in the UK.”

In May 2022, Which? named Starling Banking Brand of the Year.

The bank also won Personal Current Account of the year “for the fifth year running at this years’ British Bank Awards as well as Children’s Financial Provider of the Year for its Kite children’s debit card service, which has an additional 67,000+ users.”

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.”

As covered, Starling Bank is a fully-licensed and regulated bank “built to give people a fairer, smarter and more human alternative to the banks of the past.”

It offers personal, business, joint, euro and dollar current accounts “alongside a children’s card.”

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.”

Headquartered in London, the bank “has offices in Southampton, Cardiff and Dublin.”

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