15 December 2017
visit http://response.ncr.com

Starling flight plans rocked by executive departures

24 February 2015  |  9559 views  |  0 Web site under construction

The future of digital challenger bank Starling is in the balance after the departure of four senior members of the leadership team and a break in talks with one of its prospective investors.

Starling Bank is the brainchild of former AIB chief operating officer Anne Boden. The smartphone-based startup is in the early stages of applying for a banking license and is looking to secure £100 million from investors to fund the launch.

However, the project is off to a rocky start following the departures of chief technology officer Tom Blomfield, CFO Gary Dolman, chief risk officer Paul Rippon, and customer experience expert Jason Bates.

According to a report in the FT, Dolman quit because of tension with Boden, and is now considering setting up a rival service with the other departed executives.

The smartphone startup has also been knocked by the withdrawal of key investor Route 66, which, according to the FT, took umbrage at Starling's plans to spend £1 million to pay consultants to help with the first stages of applying for a banking license.

Speaking to the FT, Boden insisted that the bank would continue on its chosen path.

“We are looking at the overall management structure, we are trying to figure out the best way forward, but Starling will continue,” she said. “We have made huge progress on our technology build and huge progress to preparing our regulatory submission. We are now in a situation where we need a different organisation with a different skill base.”

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Former AIB COO to launch UK digital bank

Former AIB COO to launch UK digital bank

20 November 2014  |  19885 views  |  1 comments | 17 tweets | 14 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit www.thomsonreuters.infovisit www.response.ncr.com

Top topics

Most viewed Most shared
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
10342 views comments | 17 tweets | 25 linkedin
satelliteRipple completes XRP Lockup
9651 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
9087 views comments | 17 tweets | 36 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
7668 views comments | 20 tweets | 11 linkedin
Australian Government amends AML rules to cover digital currenciesAustralian Government amends AML rules to...
7288 views comments | 15 tweets | 24 linkedin

Featured job

Find your next job