Digital bank Starling is set to cut more than 100 jobs as it looks to deploy automation to simplify its operations. Staff were told this week that a major restructuring would take place with the goal of removing duplicate roles, first reported by Financial Times. According to the bank, the downsizing
Oscar Hornstein
Digital bank Starling is set to cut more than 100 jobs as it looks to deploy automation to simplify its operations.
Staff were told this week that a major restructuring would take place with the goal of removing duplicate roles, first reported by Financial Times.
According to the bank, the downsizing was needed following the completion of a handful of projects and an increasing reliance on automation.
A spokesperson for the bank said: “A key factor in our competitive edge over legacy banks is our agility; our ability to test, launch, learn and reorganise at pace.”
Founded in 2014 by Anne Boden, Starling was among the rising star’s of the UK fintech neobank wave that was bolstered by the introduction of Open Banking.
In its most recent financial report, the bank saw a 6% dip in revenue and a 3% fall in profit, due in part to heavy investments in the group’s banking software platform Engine, which has become an increasingly core part of the company’s strategy.
