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Ratio of customers won by Starling bank in the UK Q2 2018-Q1 2020

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.

Seeing customer growth is likely the most important driver for any bank looking to cause a disruption in the market. What the graph above shows is that Starling bank is successfully winning customers from other banks in the UK. In the 1st quarter of 2020, Starling bank saw approximately ten new customers switch to their services for every one customer that left them. This was one of the most successful ratios of any bank in the UK that reports to the The Current Account Switch Service. In total, Starling bank saw a net gain of almost 15.2 thousand customers in the first quarter of 2020.

Ratio of customers gained by Starling bank in the United Kingdom (UK) from the 2nd quarter 2018 to 1st quarter 2020

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Source

Release date

July 2020

Region

United Kingdom

Survey time period

2nd quarter 2018 to 1st quarter 2020

Supplementary notes

The source adds the following information: "This data includes personal customers, small businesses and small charities that have switched using the new Current Account Switch Service and received the benefits of the Guarantee and payment redirection services."

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

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