Starting a Bank

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Starting a bank is very difficult because the hurdle for being a hat bank is very high. So before we could launch to to customers, we had to do an awful lot. But despite all that, getting a banking license took us about three and a half years. It took me three two years to raise money. And it took us another six months to form a presenting or completed application. The balances are protected by the financial savitis compensation scheme. All balance in instart balances for consumers and small businesses in starling are guaranteed up to 85 thousand pounds.

In this week's episode Anne Boden CEO of Starling Bank speaks to Linda Yueh about setting up her own bank. In her remarkable story Boden reveals how she broke through bureaucracy and successfully countered widespread suspicion to realise her vision for the future of consumer banking. She fulfilled that dream by founding Starling, the winner of Best British Bank at the British Bank Awards in 2018, 2019 and 2020, and in doing so has triggered a new movement that is revolutionising the entire banking industry. To find out more about the book click here: https://www.amazon.co.uk/BANKING-How-I-Disrupted-Industry/dp/0241453585

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