Starling Bank set a view of US expansion

Thursday 26 June 2025 16:42
| Updated:

Thursday 26 June 2025 16:43

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Starling Bank has directed its gaze to Atlantic for future growth prospects as the British fintech of US banking licenses or entering the market through acquisition.

Neobank took a hit of £ 223 million to make a profit in 2024, down from £ 301 million in the previous year and since lurking business abroad to increase its position.

Raman Bhatia, the executive chief, previously said the North American market offered a “great opportunity” because he targeted a £ 100 million revenue in “short to medium term.”

Starling’s banking-as-a-service (BAAS) machines-have been seen as the center of their competitive advantage.

The contribution of the division to group income was £ 8.7 million which was simple in 2024, but this marked an increase of 284 percent of the years-to-year.

Starling’s Chief Financial Officer, Declan Ferguson, told Sifted that if he wanted to acquire the US lender, it would re -tidy the bank through Saas’s arm as a case study for the technology.

“I think there is a very interesting opportunity to own and operate banks arranged in the US,” Ferguson said.

He added that the Trump government had helped provide a “extensive and deep collection of opportunities” that were not there two years ago.

Falling in Starling Behind Monzo and Revolut

While Fintech’s financial boss said that it was unclear what services they would lean to the US, he said they would “reflect most of our British banking operations”.

Peers Monzo and Revolut Neobank previously withdrew their application for US banking licenses in 2021, chose to operate in the country through Mitra Bank. Starling is a trio member who has not been branched from England.

The company experienced a series of headaches last year because it began to be left behind its rival quickly.

The authority of financial behavior slapped fintech with a fine of £ 29 million after the failure of the regulation “very loose”.

Fintech opened more than 54,000 accounts for 49,000 “high -risk customers” between September 2021 and November 2022, according to the City Supervisor.

Starling was also forced to override the provisions of £ 28.2 million in account 2025 after identifying a group of Pandemic era loans that failed to meet the main guarantee requirements.