Key financial figures for Starling bank Group UK 2019

Established in June 2014, Starling Bank is a United Kingdom (UK) based retail bank that provides current accounts to individuals, micro-businesses and sole traders. With no physical branches, Starling Bank is one of a growing number of disruptor or challenger banks which run accounts online through mobile apps.

Key figures

In the year ending November 30, 2019, Starling Bank's 1.06 million customers (970 thousand UK and EU personal accounts/87.7 thousand UK and EU business and sole trader accounts) processed 82 million transactions. The average deposit made by active customers was 940 thousand British pounds. Since its founding, the bank allows customers to transfer to 38 countries worldwide. Although Starling Bank has seen a surge in customers since starting operation, it is still far behind other online only banks in Europe.

Disruptors

Banking and financial services are typically among the first industries to embrace technological advances; starting as far back in time as the appearance of automated teller machines (ATMs) and credit cards. Ever since the first secure Internet systems for financial operations became available on a large scale, accessing one's bank account online to carry out transactions, pay off credit cards, establish credit lines or invest savings became one of the fastest growing areas of Internet activities. The penetration of online banking in Great Britain has been excelled in part to the agility in which challenger banks can adapt and evolve as well as their ability to attract large amounts of funding.

Key financial figures for Starling Bank Group in the United Kingdom (UK) in the years ending November 2018 and November 2019

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Sources

Release date

August 2020

Region

United Kingdom

Survey time period

November 30, 2018 and November 30, 2019

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Statistics on "App-only banks in the United Kingdom (UK)"

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