Starling Bank Is Losing: Their Revenue Problem Explained

Starling has one of the best free current accounts in Britain, yet its losing the battle against Revolut and Monzo. While Starling's revenue is declining, Revolut's and Monzo's is increasing. So in this video we'll explore why Starling Bank – the first digital bank to reach profitability in the UK – seems to be falling behind it's competitors. We'll explore why they don't have a credit card, investments, and paid tiers, and also discuss the future outlook. Get the latest savings rates 👉 https://link.bankingwithoutborders.co... Join the Discord server 👉 https://link.bankingwithoutborders.co... Subscribe & turn on notifications 🔔 so you don't miss any videos 👉 https://link.technicallymoney.com/oy8e 🔊 Listen on the go! Search Banking Without Borders on Spotify & Apple Podcasts Connect with us (via LinkedIn) Jan:   / jan-watermann   Jonny:   / jonny-pease   The description of this video may contain affiliate links, meaning if you click a link, we may receive a small commission without any additional cost for you. This helps support our channel and allows us to continue making videos like this. Thank you for your support. This video is for information only and is not financial, legal or tax advice. Chapters: 00:00 Starling was beating Monzo 01:03 The account itself 02:23 Support, and why it's different 02:50 How Starling can afford a free account 04:14 What's missing, and the Marketplace problem 05:20 Why investments would cannibalise them 06:41 Falling rates and the revenue numbers 07:39 Where Monzo pulled ahead 10:03 Marketing spend 10:39 Customer numbers 12:26 Referrals and word of mouth 13:08 Where Starling spends instead 13:47 Engine by Starling explained 16:30 The credit card promised in 2019 17:12 Engine sells a credit card 18:17 The FCA problem 20:28 Getting declined 22:04 Where it went wrong 22:52 What happens next 25:45 Over to you #TechnicallyMoney #StarlingBank #Starling