Mobile-only challenger bank Starling has seen an almost 500% rise in customer accounts since November 2017, according to its chief executive, Anne Boden. Following the launch of a range of new services, the company has gone from 43,000 personal current accounts to over 210,000, with 60% of customers using their account every month, Boden noted in a shareholder letter. Average deposits are around £900 ($up to £5,000) per account. Starling has recently launched an unsecured consumer loan of 1,175, with an annual interest rate of 11-15%. The bank also has around 10,000 business customers.
Mobile-only challenger bank Starling has seen an almost 500% rise in customer accounts since November 2017, according to its chief executive, Anne Boden. Following the launch of a range of new services, the company has gone from 43,000 personal current accounts to over 210,000, with 60% of customers using their account every month, Boden noted in a shareholder letter. Average deposits are around £900 ($1,175) per account. Starling has recently launched an unsecured consumer loan of up to £5,000, with an annual interest rate of 11-15%. The bank also has around 10,000 business customers.