Starling Bank joins Faster Payments as direct member

Starling Bank joins Faster Payments as direct member

Starling Bank has become the first of the new wave of challenger banks to join the Faster Payments scheme as a direct member.

Traditionally new bank entrants have connected to Faster Payments via another bank, or a sponsor bank.

Starling, which is set for a live launch early this year, says the direct connection will help it provide customers with real-time insights into payment flows.

Julian Sawyer, chief operating officer at Starling Bank, says: "Faster Payments is essential to this. Not only have our users expressed huge interest in the real-time insights that we can give them as a result of Faster Payments, but it means being able send money to friends or set up regular payments knowing it will be an instantaneous and simple process. Given our users are all people who happily manage their lives on their phone, this partnership is a huge step in helping them to better manage their finances through our app.”

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