Starling Bank

Today we’ve announced our third full year of profitability. These fantastic results are driven by strong growth in revenue, deposits, active customers and customer transactions. Highlights include: - Pre-tax profits up 55% to £301m - Revenue up 51% to £682m - Total deposits up 4% to £11bn We’ve also sustained our top two Competition and Markets Authority rankings for service quality, online and mobile banking service and overdrafts. Engine by Starling is now proven as the SaaS platform that enables clients to launch cost-effective, market-leading digital banks at pace. John Mountain, Interim CEO of Starling Bank, said: “This is our third full year of profitability demonstrating a robust financial performance. It was a breakthrough year for Starling as we became a global provider of banking Software as a Service through our subsidiary Engine by Starling. We’ve heavily invested in Engine because we’re confident it can one day become as big as the UK bank, or bigger.” David Sproul, Group Chair of Starling, said: “Starling is now an established part of the UK banking scene. The percentage of active accounts now stands at nearly 80%, while total transactions rose by 21% to £174.1bn during the year. We have more customers, using our services more often, continuing to deepen their relationship with us. “We look forward to welcoming our new Group CEO, Raman Bhatia on 24 June. He brings a wealth of experience in consumer technology, banking and fintech expertise as the Group enters its next phase of growth.”

Holiday group chat just turned into sending each other TikToks? For the designated activity planner of the friend group: take a look at our guide to using Spaces for hassle-free booking. Here’s to getting all trips out the group chat in 2024 ☀️ For more information on how to set up a virtual card to spend directly from your Space, click the link below. https://lnkd.in/exmGyZjw

Ever heard the phrase ‘a problem shared is a problem halved’? If you find it difficult to talk about money, you’re not alone. Being honest with the people around you is a good way to ease the pressure to overspend in social situations. And with summer around the corner, now’s the perfect time to get more comfortable with ‘loud budgeting’ and talking to your close ones about money. 🫂

Bonus question: What’s the most you’d spend to watch the finals this Sunday? Let us know in the comments below 👇

❗Here’s your reminder to always pay in the local currency when travelling❗ To GBP or not to GBP? When using a card machine or ATM abroad, you should be offered a choice between paying with the local currency or GBP (Pounds Sterling). It’s always a good idea to choose the local currency as you’ll likely get a better rate. If you choose GBP, the exchange rate is set by the merchant or ATM operator. It might not be as good and could be marked up. Always keep those receipts to check you were given the option you chose. Happy holidaying! ✈️ Click the link below for more information. https://lnkd.in/e-bdsWpE

POV: The holiday gets out of the group chat and someone’s found the perfect place to stay in. Before booking, check out five top tips from our fraud team. Thank us later 🌞👉 #TakeFive

𝐷𝑜 𝑦𝑜𝑢 𝑓𝑒𝑒𝑙 𝑝𝑟𝑒𝑠𝑠𝑢𝑟𝑒 𝑡𝑜 𝑜𝑣𝑒𝑟𝑠𝑝𝑒𝑛𝑑 𝑖𝑛 𝑠𝑜𝑐𝑖𝑎𝑙 𝑠𝑖𝑡𝑢𝑎𝑡𝑖𝑜𝑛𝑠? 🤔 Hannah, social admin here, for the second edition of our Psychology of Spending series. This time, we’re talking about social spending. We’re inherently social creatures, and maintaining our social bonds is an important part of our wellbeing. But it can also be expensive. Do you feel the pressure to overspend on socialising? Why? We surveyed a nationally representative sample of over 2000 UK adults about this kind of spending, and the results were interesting: - 𝟕𝟕% admitted to overspending their budgets in social situations.  - 𝟒𝟏% of participants who overspend usually regret going out and report negative feelings afterwards. - 𝟐𝟗% report having lied to a family member, friend or colleague about being able to afford a social event.  - 𝟑𝟑% of respondents feel most pressured to spend on birthdays, 26% feel the most pressure on holidays and getaways. - 𝐎𝐧𝐥𝐲 𝟐𝟒% reported feeling no pressure to overspend in social situations.  𝐍𝐨𝐭 𝐞𝐯𝐞𝐫𝐲𝐭𝐡𝐢𝐧𝐠 𝐢𝐬 𝐚𝐬 𝐢𝐭 𝐬𝐞𝐞𝐦𝐬 Sticking to a budget can be tricky, especially when you’re feeling external pressure from the people around you who seem like they’ve got it all together. But interestingly, 25% of our respondents said they hadn’t had enough money for important things like bills or groceries because they’d spent it on a social event that they’d been pressured into. And the most surprising part? Nearly a third of people who admitted to this earn £100k or more! 𝐒𝐨 𝐥𝐞𝐭’𝐬 𝐭𝐚𝐥𝐤 𝐚𝐛𝐨𝐮𝐭 𝐢𝐭 Talking about money can feel awkward, but the alternative was reported to be overspending, then feeling guilty and anxious. I don’t know about you, but I’d much rather feel a bit of discomfort temporarily, than a lot of long term worry that stays bottled up inside. ‘Loud budgeting’ could be an option 📣 Setting clear financial boundaries and priorities explicitly, implicitly encourages others to do the same, so none of us have to live beyond our means. It’s okay to say no to socialising if it doesn’t fit into your monthly budget. It’s ok to suggest affordable alternatives for expensive activities. Keep an eye on our social channels for more content around loud budgeting, how to talk to people more candidly about money, and activities you can suggest this summer that won’t break the bank.

As our tech stack goes global with Engine by Starling, we're opening up about what it's like to work here. Starting from scratch, we’re now multi-award-winning – and profitable – with over 3,000 employees.

What a bargain! Or is it 🧐 Used car sales scams on online marketplaces are common. Check out these top tips from our fraud team when looking for your next car: 👁️ Always see the car in person first, and don’t send money before seeing it. 📱 Carry out a HPI check to ensure that the car is free from finance and not stolen. 🪪 If buying privately, check the seller’s ID. 📄 Check the V5C doc (and match the address to the seller) and MOT documents. 💰 Does the price seem too good to be true? If yes, ask why. #TakeFive

Booking a hotel? Make sure you can spot scammer slip ups, and avoid accidentally giving up personal and financial information, or more 💳 Scammers are sending messages through accommodation websites, pretending to be hotels that you’ve recently booked. Their aim is to steal your personal and financial information. Be cautious when receiving any unexpected messages like this, give the hotel a call using the phone number on their website and always #TakeFive to consider whether it could be a scam 🚨