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Starling Bank reaches three million current account milestone

Starling Bank has passed the three million current account milestone, which includes more than 460,000 small business accounts.

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Starling Bank reaches three million current account milestone

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The figures come five years after the digital bank launched its Personal Current Accounts in May 2017, while its Business Current Accounts, which were minted in March 2018, now account for 8% of the UK SME banking market.

Helen Bierton, chief banking officer at Starling Bank says: “Starling has proven that technology can transform the banking experience and we’ve attracted millions of customers as a result. Our technology platform was built to scale, so as we continue to launch industry-first products and features, we’re ready to onboard many more customers - and at pace.”

Starling has been on a strong growth trajectory, with data from the Current Account Switching Service revealing that the app-only bank gained more net switches in 2021 than any other bank in the UK.

Starling now has 1,854 employees across its four offices in Cardiff, London, Southampton and Dublin. Cardiff is its biggest base.

In April, the bank secured £131.5 million in an internal investment round that values the startup at £2.5 billion pre-money.

Starling rival Monzo passed five million customers in 20/21, but remains a loss-making enteprise. Starling, by contrast, is on course to record its first full year of profit by year-end.

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