While it feels like everybody is talking about challenger banks, Boden started thinking about building a new bank back in 2014. She ditched a carrer in traditional banks to start her own thing.
Starling provides a current account specifically designed for your phone. You can open an account in just a few minutes using the company’s mobile app.
Whenever you use your card or send money, you can instantly see the transaction in the app — there’s no delay. You can also receive push notifications instantly. When it comes to your card, you can lock it when you can’t find it, and there’s no exchange fee when you use your card abroad. Starling supports Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and, yes, even Garmin Pay.
Starling is even better with multiple people. For instance, if your roommate or significant other also has a Starling account, you can create a joint account for shared bills. You can also send money instantly to other Starling accounts.
The startup has been building a marketplace to become the only banking app you need. There are already a handful of fintech companies leveraging the Starling API. You’ll find savings, investment and mortgage products. You can centralize your paper receipts and more from the Starling app.
The startup already has its own banking license and has been raising a funding round of more than $100 million.
Starling operates in a very competitive market, with well-funded startups such as Monzo, Revolut and N26 all iterating quite quickly. That’s why it’s going to be interesting to hear Boden’s take on challenger banks, the fintech industry and her experience with Starling.
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