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Digital bank Starling will not reapply for a European Union banking license and will instead focus on international expansion through its software business, according to the incoming CEO. This marks a shift in strategy compared to some of its competitors. Starling, one of the U.K.’s leading “neobanks” — digital-only banks with no physical branches — was founded in 2014. It has amassed 4 million customers and was last valued at £2.5 billion ($3.2 billion). The digital bank, backed by Goldman Sachs, has traditionally offered banking services such as current accounts and lending, primarily to U.K. customers. Starling had aimed to …
Leggi di piu »Goldman-backed Starling announces no plans to pursue an EU bank license; expansion will focus on software.
