Starling Discussion & Feedback

I’m impressed with Starling of late. Quietly adding more and more features. They’ve definitely got the polish. Agree, the budgeting feature needs work.

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Not sure if this is new news, but It looks like starling have picked up another award

Sounds like someone will be treating themselves to a new shawl.

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They are saying they have been around for 3 years and won 3 banking awards (not a new one)

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I would kill for them to switch to showing a list of payee accounts rather than having to swipe through them one by one.

The swipe target is also really small. It should be most of the top half of the screen, but it’s just the account name and number.

Monzo’s account payee details screen is far better, especially with the Bank logo based on sort code.

17 posts were merged into an existing topic: Add missing bank account logos

Starling offering the Bounce Back Loans could be a real masterclass.

Going off of twitter seems to be alot of people opening up accounts for the scheme, could prove a good way of keeping new users.

Be interesting to see the increase in account numbers over say the last week or so

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This blog by Anne Boden is excellent.

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Not sure what this relates to. Any ideas anyone?

The bounce back loans. Seems some people are being rejected when they’re eligible (or say they are)

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A bank is of course under no obligation to offer a loan to anybody. I doubt every single person I’ve seen complaining under Martin Lewis’ tweet is as ineligible as Starling claim though. It a fine line though and I’m sure it’s difficult to truly ascertain a business’ viability in the short space of time they have to get these loans out.

One of the main reasons behind the bounce back loans (and why the govt are underwriting 100% of them) is that the banks should not be assessing the viability of a business before issuing them.

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The guidelines clearly state that the decision to lend rests with the lender, who will make assessments that the loan is affordable for the business and will be used for a suitable business purpose.

The borrowing proposition must be something the lender would consider viable were it not for coronavirus.

In no way are Bounce Back Loans meant to be banks just throwing money at people who “just really really need it because coronavirus” blindly backed by a government guarantee.

I mean, the possibility of rejection must have been factored in, because the scheme guidelines have a policy on what business owners can do if they are rejected.

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You are looking at the guidance for the CBILS loans.

For the bounce back ones they are only allowed to ask a set of standardized questions and KYC/fraud checks

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Makes me wonder if they haven’t differentiated the decision making process effectively between CBILS and BBLS as CBILS does involve all the different viability checks.

The application form actually expressly forbids the credit/affordability checks that Starling have done from being done

  1. I/We understand that the lender will not conduct any form of credit or affordability check and accepts no responsibility, whether arising in contract, tort (including negligence) or otherwise, for my/our decision to borrow. I/We also understand that the lender may register its Bounce Back Loan with credit reference agencies, and that my credit rating may be affected by any failure or delay in repaying
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Yes they have. Anne Boden admits it here

https://member.fintech.global/2020/05/18/starling-bank-ceo-responds-to-bounce-back-loan-criticism-from-rejected-would-be-lenders/

They of course have every right to apply their own criteria. However, they should have been upfront with customers before applying that credit history would be taken into account as it conflicts information many seem to have been told. Many people on social media seem to think a poor credit history should not be a barrier to a BBL.

I do think the hashtag on social media is a bit out of order though. Fair enough people can be annoyed but some of the comments I’ve seen are definitely going too far.

Not with the Bounce Back loans as the post by @Greenbadger shows. That’s why the govt is underwriting 100% of the loans.

Lenders are allowed to do checks with credit agencies for AML and fraud prevention though.

Sounds to me as Starling realise they have screwed up

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