Starling Bank, a digital-only bank in the UK, has announced that it is hiring 1,000 new tech employees to boost its digital services. The bank, which was founded in 2014, has seen a surge in demand for its services since the start of the COVID-19 pandemic, as more people have turned to online banking.
The new hires will be based in the UK and will work across a range of areas, including software engineering, data science, and cybersecurity. The bank is also planning to open a new office in Manchester to accommodate the new employees.
Anne Boden, the CEO of Starling Bank, said: “We are delighted to be creating so many new jobs at a time when there is so much uncertainty in the economy. We believe that digital banking is the future, and we are committed to investing in our technology and our people to ensure that we continue to provide the best possible service to our customers.”
The move comes as traditional banks in the UK are facing increasing competition from digital-only banks like Starling Bank, Monzo, and Revolut. These banks offer a range of innovative features, such as real-time notifications, budgeting tools, and fee-free foreign transactions, which have proved popular with customers.
Starling Bank has been particularly successful in attracting customers with its business banking services. The bank offers a range of features designed specifically for small businesses, including invoicing tools, tax calculations, and integration with accounting software.
The bank has also been praised for its response to the COVID-19 pandemic. In March 2020, it launched a “Connected Card” feature that allows customers to give a trusted person access to their account, making it easier for vulnerable people to receive help with their finances.
The announcement of the new hires has been welcomed by industry experts. David Duffy, the CEO of CYBG, which owns Virgin Money UK, said: “This is great news for the UK tech sector and for customers who are increasingly looking for digital banking solutions. Starling Bank has been a real innovator in this space, and I look forward to seeing what they can achieve with this new investment.”
Overall, the move by Starling Bank to hire 1,000 new tech employees is a positive sign for the UK’s tech sector and for customers who are looking for innovative digital banking solutions. With traditional banks facing increasing competition from digital-only banks, it is likely that we will see more investment in technology and innovation in the banking sector in the coming years.
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