UK challenger bank Starling has published its fourth annual report

August 13, 2019 | Banking
Written by FinTech Alliance
UK challenger bank Starling has published its fourth annual report

UK challenger bank Starling has published its fourth annual report for the period 2017 to 2018.

In brief:

  • The digital bank reported a loss before tax of £26.9mn for the year ending 30 November 2018.
  • Staff numbers have increased significantly to 279 - 38% of staff are women and the business has 37 nationalities represented within its workforce.
  • At this time, Starling has received £233mn in funding from investors.

What does this mean?

While the company has yet to turn a profit, CEO Anne Boden is confident this will happen by 2020. In an open letter following the report, she said that the bank’s digital model, which lacks branches and legacy systems, is “highly capital-efficient”.

Read more here. 

More in Banking

US Big Banks Want To Make It Easier to Share Consumer Financial Data With Startups
Banking
November 13, 2019

US Big Banks Want To Make It Easier to Share Consumer Financial Data With Startups

The move is driven by The Clearing House, which is owned by 25 of the US' largest lenders. In...

Chinese Banks Could Lose $61 Billion In Payments Revenue By 2025 - Study
Banking
November 07, 2019

Chinese Banks Could Lose $61 Billion In Payments Revenue By 2025 - Study

New Accenture study looks at payments revenue on a global scale In Brief Global payments re...

Banks have lost a quarter of the payments franchise to new players - BIS
Banking
November 06, 2019

Banks have lost a quarter of the payments franchise to new players - BIS

Non-banks now account for a quarter of the institutions offering payment services or payment instrum...

Banking
October 31, 2019

Banking Business Models Fit for the Path Ahead - Winning in the Digital Economy

Learn how banks can change their business models in revolutionary ways to maintain future growth val...

Banking
October 31, 2019

2019 Total Tax Contribution of the UK banking sector

This year’s Total Tax Contribution Study for the UK banking sector, commissioned by UK Finance...

Banking
October 02, 2019

How technology is the only answer to tackling financial crime

The cost of global financial crime is estimated to be around $3trillion – a sum that could fun...

MoneyLIVE Summit

MoneyLIVE Summit

When: Nov 25th - Nov 26th, 2019
Where: QEII Centre, London
Price: £1,706