Latest news with #AnneBoden
Finextra
21 hours ago
- Business
- Finextra
Starling eyes NYSE listing
UK-based challenger bank Starling is considering listing on the New York Stock Exchange as part of its US expansion plans. 0 This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. The potential move, which was reported by the Financial Times, would be a blow to the UK government's ambitions of reviving the country's fintech sector. It would also signal a change from Starling given comments made in 2024 by former chief executive John Mountain, who served as interim chief after the departure of long-term chief executive and founder Anne Boden. Mountain had described London as the "natural home" for the fintech and the bank even went as far as advertising for a London-based executive to work on the execution of a "successful IPO or other capital event". However, Starling's chief financial officer, Declan Ferguson, told the FT that while no decision had been made on where the bank would list, it was considering the US as a potential home for its listing. 'We continue to observe what is happening externally with our peers, and also what is happening on the global stage in terms of the UK versus US [stock markets],' he said. One reason for considering a US listing would be the potential to achieve a higher valuation than in the London market. Starling is also looking to expand in the US prior to any listing and has reportedly looked at acquiring a US bank. Other UK-based digital banks, Monzo and Revolut, are similarly looking to grow their presence in the US market. Should Starling decide to list in the US rather than the UK, it will be discouraging for the UK government and chancellor Rachel Reeves who has earmarked the growth of the fintech sector and an increase in IPOs as priorities. The report on Starling also comes a month after online money transfer platform Wise, another prominent UK fintech, annoucned that it was moving its primary listing from London to New York.
Yahoo
27-06-2025
- Business
- Yahoo
Neobank Starling seeks expansion in US
Starling Bank, a UK-based digital banking entity, is vying for the acquisition of a nationally chartered bank as part of US expansion, Bloomberg reported. The publication further noted that the London-headquartered neobank aims to engage US banking specialists this summer to commence the acquisition process. It is focused on identifying potential targets along the East Coast that have roughly $2bn in assets. Details of the acquisition talks remain confidential, and the spokesperson for Starling Bank did not comment on the matter. This initiative follows Starling Bank's step into the US market earlier this year, when it announced the availability of its banking technology stateside and registered a subsidiary in Delaware. It aims to identify a bank whose digital capabilities are ripe for enhancement through the integration of Starling's contemporary banking technology platform, the report said. Starling Bank's move to expand internationally comes after a leadership transition, with Raman Bhatia assuming the role of CEO in the past year, taking over from founder Anne Boden. The bank has also faced regulatory scrutiny, having been fined £29m for shortcomings in its management of high-risk customers. Recently, Starling Bank introduced 'Spending Intelligence', a new AI-powered chatbot, within its mobile app. The chatbot, powered by Gemini, Google's Large Language Model, provides users with insights into their spending habits. It operates on the Google Cloud Platform, which hosts Starling's technological infrastructure. "Neobank Starling seeks expansion in US " was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Independent
17-02-2025
- Business
- The Independent
Bank overtakes Monzo to become Britain's favourite
Chase has dethroned Monzo as Britain's favourite bank, according to a new survey, even as digital banks continue to outshine traditional high street institutions. The Competition and Markets Authority (CMA) surveyed approximately 23,000 people across Britain and Northern Ireland, revealing a significant shift in customer preference. Newcomer Chase, which entered the personal current account market just six months ago, secured the top spot with an impressive 81 per cent of customers stating they would recommend the service to their friends and family. This put it ahead of the 80 per cent who said the same for Monzo, which has lead the pack for the previous iterations of the twice-yearly poll. Starling Bank, a fellow digital bank which was founded more than a decade ago by technology entrepreneur Anne Boden, ranked third for overall service quality. The CMA made it compulsory for large banks and building societies to take part in the surveys, which go to about 1,000 customers in Britain and 500 customers in Northern Ireland for each provider. Chase UK's chief executive Kuba Fast, said: 'Our focus at Chase is on providing our customers with an exceptional experience at every opportunity, so we're delighted to be recognised by our customers for the quality of our service.' With the backing of its US parent company JP Morgan, Chase launched in Britain in 2021 and has since built up about 2.5 million customers. JP Morgan, which is America's largest bank, recent revealed it generated an income of $14 billion (£11.1 billion) over the final three months of 2024, 50 per cent higher than the previous year. Royal Bank of Scotland (RBS) was at the bottom of the key ranking for another year, with 46 per cent of customers likely to recommend its personal current account to friends and family. Meanwhile, Monzo was the highest-rated bank for its online and mobile banking services, as well as for its overdraft services. Nationwide Building Society came in at number one for its branch services, amid the lender's pledge to keep its branches open until at least 2028. In Northern Ireland, Monzo was the top bank for overall service quality, followed by Starling Bank and Nationwide. Separate data published last month found that Monzo, which is now the UK's seventh-largest bank with some 11 million customers, gained more than 5,000 customers via the Current Account Switch Service between July and September last year. The service automatically moves payments from a person's old account to a new one – with the figures not including customers switching banks outside the service. On the other hand, Royal Bank of Scotland lost more than 5,000 current account customers through the switching service over the same period.
The Independent
17-02-2025
- Business
- The Independent
Chase overtakes Monzo as Britain's favourite bank, survey shows
JP Morgan's Chase has overtaken Monzo as Britain's favourite bank, as digital providers continue to outperform the high street giants, according to a survey of thousands of banking customers. The Competition and Markets Authority (CMA) published the findings of its latest survey of some 23,000 people in Britain and Northern Ireland, carried out by Ipsos. Among Britons, Chase secured the top spot after first entering the survey for its personal current accounts six months ago. Some 81% of customers said they would be likely to recommend the account to friends and family, the survey found. This put it ahead of the 80% who said the same for Monzo, which has lead the pack for the previous iterations of the twice-yearly poll. Our focus at Chase is on providing our customers with an exceptional experience at every opportunity, so we're delighted to be recognised by our customers for the quality of our service Kuba Fast, Chase UK's chief executive Starling Bank, a fellow digital bank which was founded more than a decade ago by technology entrepreneur Anne Boden, ranked third for overall service quality. The CMA made it compulsory for large banks and building societies to take part in the surveys, which go to about 1,000 customers in Britain and 500 customers in Northern Ireland for each provider. Chase UK's chief executive Kuba Fast, said: 'Our focus at Chase is on providing our customers with an exceptional experience at every opportunity, so we're delighted to be recognised by our customers for the quality of our service.' With the backing of its US parent company JP Morgan, Chase launched in Britain in 2021 and has since built up about 2.5 million customers. JP Morgan, which is America's largest bank, recent revealed it generated an income of 14 billion US dollars (£11.1 billion) over the final three months of 2024, 50% higher than the previous year. Royal Bank of Scotland (RBS) was at the bottom of the key ranking for another year, with 46% of customers likely to recommend its personal current account to friends and family. Meanwhile, Monzo was the highest-rated bank for its online and mobile banking services, as well as for its overdraft services. Nationwide Building Society came in at number one for its branch services, amid the lender's pledge to keep its branches open until at least 2028. In Northern Ireland, Monzo was the top bank for overall service quality, followed by Starling Bank and Nationwide. Separate data published last month found that Monzo, which is now the UK's seventh-largest bank with some 11 million customers, gained more than 5,000 customers via the Current Account Switch Service between July and September last year. The service automatically moves payments from a person's old account to a new one – with the figures not including customers switching banks outside the service. On the other hand, Royal Bank of Scotland lost more than 5,000 current account customers through the switching service over the same period.
Yahoo
17-02-2025
- Business
- Yahoo
Chase overtakes Monzo as Britain's favourite bank, survey shows
JP Morgan's Chase has overtaken Monzo as Britain's favourite bank, as digital providers continue to outperform the high street giants, according to a survey of thousands of banking customers. The Competition and Markets Authority (CMA) published the findings of its latest survey of some 23,000 people in Britain and Northern Ireland, carried out by Ipsos. Among Britons, Chase secured the top spot after first entering the survey for its personal current accounts six months ago. Some 81% of customers said they would be likely to recommend the account to friends and family, the survey found. This put it ahead of the 80% who said the same for Monzo, which has lead the pack for the previous iterations of the twice-yearly poll. Starling Bank, a fellow digital bank which was founded more than a decade ago by technology entrepreneur Anne Boden, ranked third for overall service quality. The CMA made it compulsory for large banks and building societies to take part in the surveys, which go to about 1,000 customers in Britain and 500 customers in Northern Ireland for each provider. Chase UK's chief executive Kuba Fast, said: 'Our focus at Chase is on providing our customers with an exceptional experience at every opportunity, so we're delighted to be recognised by our customers for the quality of our service.' With the backing of its US parent company JP Morgan, Chase launched in Britain in 2021 and has since built up about 2.5 million customers. JP Morgan, which is America's largest bank, recent revealed it generated an income of 14 billion US dollars (£11.1 billion) over the final three months of 2024, 50% higher than the previous year. Royal Bank of Scotland (RBS) was at the bottom of the key ranking for another year, with 46% of customers likely to recommend its personal current account to friends and family. Meanwhile, Monzo was the highest-rated bank for its online and mobile banking services, as well as for its overdraft services. Nationwide Building Society came in at number one for its branch services, amid the lender's pledge to keep its branches open until at least 2028. In Northern Ireland, Monzo was the top bank for overall service quality, followed by Starling Bank and Nationwide. Separate data published last month found that Monzo, which is now the UK's seventh-largest bank with some 11 million customers, gained more than 5,000 customers via the Current Account Switch Service between July and September last year. The service automatically moves payments from a person's old account to a new one – with the figures not including customers switching banks outside the service. On the other hand, Royal Bank of Scotland lost more than 5,000 current account customers through the switching service over the same period.
