Starling Bank Chat (Part 2)

Real shame that Starling got rid of the pie chart/ spending circle. Felt it gave the app something a bit different from other banks. A good visual cue for where the money was going

2 Likes

Festive snow is back, if anyone cares? :sweat_smile:

2 Likes

No idea why they’re didn’t just move it to another section of the app.

I get it was taking real estate on the landing screen so just put it under trends or something.

1 Like

Paywalled but main info below:

Starling Bank is exploring plans to buy another UK lender, an overhaul to its business model that would allow the digital bank to put its £12bn worth of customer deposits to more profitable use.

The fintech is actively looking at several acquisition options that would allow it to expand its lending capacity and deploy deposits into areas that could generate higher returns, such as corporate lending, according to two people familiar with the discussions. One said the acquisition could be “substantial” in scale.

3 Likes

Ooh interesting wonder who they’re acquiring :thinking:

Hostile takeover of Monzo? :rofl:

Potential new brand names: Monzling or Starzo?

8 Likes

Starling already own Fleet and Masthaven (from 2021 and 2022) so would they go for another mortgage company or try and get into loans and/or credit cards too I wonder?

1 Like

Guess it depends on where they see the most growth coming for them and best landscape in terms of competition.

I do wonder if the Starling brand has suffered in the retail market a bit. They don’t really have the same kind of visibility as they did prior to the Pandemic Imo.

3 Likes

I don’t think he was being serious about the Monzo takeover :joy:

2 Likes

It’s a shame Starling refuse ex customers and also haven’t implemented consumer lending, which would be a huge boost, but they maybe also consider it a risk given the cost of living and is it responsible to offer lending (impose risk to themselves) in the current climate?

Business lending is likely more viable, they can charge more, and businesses are usually around far longer than a customer.

2 Likes

I just replied to the thread in general rather than any specific post (you can tell by the little icon at the top right of any reply)

1 Like

Know Shawbrook was one in the past that fell through

Yeah I would have thought they would have relaxed their rules again by now - I still can’t open a second personal or Euro account either. Guess they are still being extra cautious. Hey at least they are not alone in their lax controls I guess :grin:

4 Likes

“Nationwide missed opportunities to identify a customer using personal current accounts to receive fraudulent Covid furlough payments. The customer received 24 payments totalling £27.3m over 13 months, with £26.01m of this deposited over 8 days. His Majesty’s Revenue & Customs (HMRC) recovered £26.5m, but approximately £800,000 remains unrecovered.”

Yikes :frowning_face_with_open_mouth:

3 Likes

£27.3M in only 24 payments and most done in 8 days Jesus :open_mouth:

3 Likes

If you reply to a post and there’s no other posts between that and your reply, it doesn’t show the icon.

2 Likes

Can confirm, as I replied to @JayTay but there is no reply icon. But I do appear in the replies drop down.

1 Like

Almost Starling at a glance :joy:

3 Likes

There’s a faint whiff of it…

7 Likes