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Online & Mobile Banking

Starling Bank gets green light to launch marketplace app store

Thursday 7 December 2017 | 01:46 PM CET

Starling Bank has been granted approval by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) to offer customers financial products.

Starling Bank received a banking license from the Bank of England in 2016. The digital only challenger bank will now be able to provide financial products like mortgages, consumer loans, ISAs, and other investment products via their app.

The decision makes Starling Bank one of the first UK challenger banks to provide financial services in an online marketplace. The bank has partnered with several providers to facilitate choice and access via their digital bank. 

Starling said this is the next step in the Bank’s plan to use Open Banking regulations to give financial control back to its customers, and follows on from existing partnerships with companies such as Moneybox, Flux, Yolt and Yoyo Wallet.

More: Link
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