Starling Bank says it wants to make “the most useful banking app in the world.”
Available on iOS and Android, Starling’s first step focuses on the core functions of a current account. This includes opening an account in minutes, setting up regular payments (ie. Direct Debits using an account number and sort code), and making one off payments in and out of the account, including via the Faster Payments network.
Customers will receive a contactless MasterCard debit card that can be used in the UK, internationally, as well as synced up to digital wallets such as Apple and Android Pay in the near future.
Key to Starling’s approach is enabling customers to see, manage and control their money in real time. Transactions and payments through the account are signalled in real time through push notifications and within the Home screen via a central feature called the ‘Starling Pulse.’ A Feed displays account activity, also updated in real time, and clearly shows transaction information detail, date and time.
Additional features give customers easy control of their account via the app. This includes the ability to lock and unlock the debit card, set a PIN, access a PIN reminder and add additional layers of security.
For qualifying customers, an overdraft facility is provided on their account with easy controls to set and adjust the limit up to a pre-authorised amount; giving people control of the facility and the ability to only tap into it as and when required.
Security features include an option to set an access code for the app, and biometric identification in the form of a short video. Customer service is accessed in app via Live Chat, message or call, and account settings can also be managed directly in app.
In later phases, the beta community will also be testing features that enable them to budget, see insights into their spending and save towards specific goals, as well as access relevant services made available through the Starling Marketplace. The Marketplace is being created with partners, including TransferWise, and the developer community, using Starling’s Open API and supporting community.