Starling Bank starts to expand business banking Marketplace
British mobile-only bank Starling has launched its in-app Marketplace for small businesses. The new wave of Marketplace partners includes the launch of accounting software platform Xero. The latter will enable Starling’s 20,000 business banking customers to automatically integrate their banking transactions into the UK’s leading cloud accounting platform.
With the introduction of Making Tax Digital, Starling will give small business owners a head-start through the digitalization of their finances. Business customers will benefit from the partnership by saving time on manual entry and removing the risk of lost transactional data. Today, Starling is launching a closed beta of the Xero integration, which it will expand and roll out to all Starling Business customers over the coming weeks.
With further agreed partnerships announced today, Starling business customers will also soon be able to benefit from partnerships with insurance providers Zego and Nimbla, which will provide businesses with the flexible security they need. Additionally, partnerships with Growth Street and Funding Options will be made available to help small businesses access funding with just a few taps on their smartphone.
Today’s business-focused Marketplace announcement follows Starling’s recent expansion of its retail Marketplace, which includes products across loyalty and receipts, savings and investments, mortgages, and insurance. Digital receipts provider Flux and discount and loyalty provider Tail are available in both the retail and business Marketplace for Starling customers.