KPMG Nunwood
Publications

UK Customer Experience Excellence Analysis 2020

Starling Bank

Financial Services

Intriguingly, Starling and Monzo become challenger banks at roughly the same time. Both are tech based and entirely customer focused. This is not surprising as Starling is led by Anne Boden and Monzo’s CEO, Tom Blomfield, was once her employee. As a technology-based pure play digital bank, Starling has been singularly able to support its customers during the crisis.

Starling announced on 8 April its Connected Cards scheme for those with personal accounts at the bank. This allows customers to order a second card - the Connected Card - that is connected to their account, but which can be used by friends, neighbours and community volunteers to shop for them during self-isolation.

"I use Starling as my main bank. Everything about them is clear and straightforward. I can conduct all aspects of my finances from my mobile phone and have no fear of hidden or excessive charges.”

UK CEE 2020 respondent

Other initiatives include allowing cheque processing via mobile phone - Starling Bank is the first digital only bank to allow this - and participating as a lender in the government-backed Coronavirus Business Interruption Loan Scheme (CBILS).

Starling has grown steadily with over one million customers and £1bn in assets and it has been more successful than many of the challenger banks in capturing the primary current account relationship. Starling’s API allows third-party companies to link up with the app, such as PensionBee, Churchill and Flux, among others. Starling has made big progress with third-party services, with its Marketplace already built into the app with a selection of partners covering bill management, insurance, receipts, savings and more. This all means customers can add and manage such services, be it signing up for an ISA or tracking receipts, directly via the app. This is the promise of open banking, and with Starling it’s becoming a reality.

 

Pillar Score vs. Industry Average

Company Profile

Starling Bank is an award-winning and fully-licensed bank built to give people a fairer, smarter and more human alternative to the banks of the past. With four different account types – personal, business, joint and euro – and a pioneering payment services proposition for businesses, Starling’s world-class tech reimagines banking for life today, putting the tools people need to feel good about money in the palm of their hand.

Source

starlingbank

+6%

Personalisation

+9%

Integrity

+9%

Expectations

+7%

Resolution

+9%

Time and Effort

+10%

Empathy