Key financial figures of Starling Bank Group 2024
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 March 31, 2024, Starling Bank had a total of 4.2 million customers. 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 thanks to the agility in which challenger banks can adapt and evolve, as well as to their ability to attract large amounts of funding.
