Starling beats Tide to offering multi-director business accounts

By Oliver Smith on Thursday 25 July 2019

Digital Banking

CEO Anne Boden revealed the bank has also hit 60,000 SME customers.

Starling beats Tide to offering multi-director business accounts
Image source: Starling Bank.

Digital bank Starling has become the first mobile-only player to offer business bank accounts for companies with multiple directors.

Until now Starling, along with rivals Tide and Revolut, have only offered business banking for sole traders or single-director companies.

UPDATE 26-07-2019 - Tide does offer multi-director accounts, but only with read-access for additional directors.

“Opening up our business account to SMEs with more than one person of significant control will give hundreds of thousands more companies access to our features, meaning they can manage their finances conveniently on their smartphone without having to worry about where their nearest bank branch is and when it will be open,” said Anne Boden, Founder and CEO of Starling Bank.

In February Starling was awarded £100m from the RBS Capability and Innovation Fund, cash it is using to build lending products as well as additional features like these multi-director accounts.

Boden also revealed Starling has now reached 60,000 business banking customers, up from 30,000 at the start of 2019 and well on track to give Tide a run for its money with 90,000 customers.

“We have a fantastic entrepreneurial spirit in the UK and Starling wants to give SME business owners the best possible banking services to make their life easier and allow them to focus on what counts,” she added.

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