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.
Ratio of customers gained by Starling Bank in the United Kingdom (UK) from 2nd quarter 2018 to 3rd quarter 2023
Figures were calculated by Statista using the data published by the source.
The source adds the following information: "This data includes personal customers, small businesses and small charities that have switched using the new Current Account Switch Service and received the benefits of the Guarantee and payment redirection services."
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Statista. (January 16, 2024). Ratio of customers gained by Starling Bank in the United Kingdom (UK) from 2nd quarter 2018 to 3rd quarter 2023 [Graph]. In Statista. Retrieved November 03, 2024, from https://www.statista.com/statistics/1099102/ratio-of-bank-customers-won-and-loss-by-starling-bank-in-the-united-kingdom/
Statista. "Ratio of customers gained by Starling Bank in the United Kingdom (UK) from 2nd quarter 2018 to 3rd quarter 2023." Chart. January 16, 2024. Statista. Accessed November 03, 2024. https://www.statista.com/statistics/1099102/ratio-of-bank-customers-won-and-loss-by-starling-bank-in-the-united-kingdom/
Statista. (2024). Ratio of customers gained by Starling Bank in the United Kingdom (UK) from 2nd quarter 2018 to 3rd quarter 2023. Statista. Statista Inc.. Accessed: November 03, 2024. https://www.statista.com/statistics/1099102/ratio-of-bank-customers-won-and-loss-by-starling-bank-in-the-united-kingdom/
Statista. "Ratio of Customers Gained by Starling Bank in The United Kingdom (Uk) from 2nd Quarter 2018 to 3rd Quarter 2023." Statista, Statista Inc., 16 Jan 2024, https://www.statista.com/statistics/1099102/ratio-of-bank-customers-won-and-loss-by-starling-bank-in-the-united-kingdom/
Statista, Ratio of customers gained by Starling Bank in the United Kingdom (UK) from 2nd quarter 2018 to 3rd quarter 2023 Statista, https://www.statista.com/statistics/1099102/ratio-of-bank-customers-won-and-loss-by-starling-bank-in-the-united-kingdom/ (last visited November 03, 2024)
Ratio of customers gained by Starling Bank in the United Kingdom (UK) from 2nd quarter 2018 to 3rd quarter 2023 [Graph], Statista, January 16, 2024. [Online]. Available: https://www.statista.com/statistics/1099102/ratio-of-bank-customers-won-and-loss-by-starling-bank-in-the-united-kingdom/
