UK-based digital challenger bank, Starling Bank, has partnered with SME insurtech Digital Risks and cybersecurity group CyberSmart.
The partnership is part of Starling’s strategy to expand its Marketplace and provide customers with tools to grow their businesses.
Anne Boden, CE0 of Starling bank, said: “Having started a digital business I know the unique and ever-changing challenges you face first hand.
“These new partnerships will make it quicker and easier for our clients to ensure they have both the insurance cover they need and the vital cyber security systems in place.
According to the digital bank, the new tools will allow customers to manage more business admin from one place. The tools are accessible within the Starling app.
Boden also said that businesses can suffer up to 10,000 cyber attacks per day. She highlighted the importance of making sure these businesses have proper insurance as well as digital protection.
“By working with Digital Risks and CyberSmart, our business customers will be able to focus on growing their businesses knowing that their insurance and cyber security needs have been taken care of.”
The new alliance also means Starling’s customers will be able to purchase more tailored insurance directly from their smart-phone.
In addition, Starling hopes CyberSmart’s technology will make it easier for its customers to achieve their Cyber Essentials Certification.
Cameron Shearer, CE0 of Digital Risks, said: “Starling has taken retail banking by storm, giving users a truly better way to manage their finances. We’re excited to partner with them to bring simplicity to SME insurance through their in-app Marketplace.”
Earlier this year, Starling teamed up with SumUp to provide merchant with faster settlements.
Who are the new partners?
Digital Risks is an insurance provider targeting SMEs and the new, emerging threats they face. It offers cover including commercial legal protection, cyber security, management liability, employers liability, public liability and professional indemnity.
CyberSmart uses technology to identify digital weaknesses of businesses, meanwhile recommending fixes for these issues.