Starling Bank`s Anne Boden–The Founder and CEO of a `Profitable` Challenger Bank in the UK
| Case Code: LDEN197 Case Length: 13 Pages Period: - Pub Date: 2023 Teaching Note: Available |
Price: Rs.300 Organization : Starling Bank Industry :Banking Countries : United Kingdom Themes: Banks and Banking Entrepreneurship, Sustainability,Women in Leadership |
Abstract Case Intro 1 Case Intro 2 Excerpts
Excerpts
Entreprenuerial Journey of Anne Boden
Before starting Starling, Anne had worked in the traditional banking domain in a career spanning 30 years. She had worked in various banks such as Royal Bank of Scotland, ABN Amro, and Allied Irish Bank (AIB). Anne was the Head of Europe..
Challenges Faced
Armed with the idea of a digital bank and decades of experience, Anne ventured into the entrepreneurial field. Every day she sent emails to prospective investors on her vision and idea of a digital bank. Anne said..
Starling’s Business Model
Starling offered banking products and services to its customers both in the business account and the personal account sections. In the personal account section, the bank offered its customers a Current account, Joint account..
The Starling Marketplace
The Starling marketplace was a part of the Starling app where the customers were provided access to different financial products and services..
Sustainable Banking at Starling
Starling had put up its ethics statement on its website. It stated, “Starling bank grew out of a desire to create a new kind of bank and to make banking more inclusive by putting customers’ needs first. For us, good business and ethics go hand in hand. We believe that businesses should be aware of their social, economic, environmental impact and their responsibilities to pursue the social good.”..
Road Ahead
With over £5.8 billion in deposits, Starling had grown and captured more than 6 percent of the banking deposits market in the UK as of August 2021. The website of the bank proudly declared that a new account was opened at Starling every 38 seconds..
Exhibits
Exhibit I: Details of Awards Won by Starling Bank
Exhibit II: Starling Bank Customers from 2019 to 2022
Exhibit III: Details of the Personal Account Customer and Business Account Customer Products of Starling Bank
Exhibit IV: Details of Revenue Generating Streams of Starling Bank
Exhibit V: Details of the Environmental Protection Initiatives of Starling Bank
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