Ratio of customers won by Starling Bank in the UK 2018-2023
Seeing customer growth is likely the most important driver for any bank looking to cause a disruption in the market. Between 2018 and 2022, Starling Bank successfully won customers from other banks in the UK. In the second quarter of 2023, Starling Bank saw its first negative ratio, with more than one customer switching to other services for every one new customer that they acquired. This trend continued in the second and third quarters of 2023.
Established in June 2014, Starling Bank is a UK-based retail bank that provides current accounts to individuals, microbusinesses and sole traders. With no physical branches, Starling Bank is one of a growing number of disruptor or challenger banks that run accounts online through mobile apps.