Leading digital bank Starling has introduced three new in-app integrations to its banking platform.
The bank has added workplace messaging platform Slack, energy switching service Bionic and health insurance provider Equipsme to the Starling Marketplace.
The Starling Marketplace offers customers access to a selection of 26 third-party financial services from within the app. According to the startup, it is already used by one in three business customers.
The new integrations will be available to Starling’s 177,000 small and medium-sized business customers from today.
They will allow customers to view real-time transaction alerts, arrange energy contracts and offer health and wellbeing support, and are designed to help customers “synchronise their banking with the rest of their business operations more easily, reducing company admin time”.
Anne Boden, founder and CEO of Starling Bank, said: “These new Marketplace integrations are bringing added value to our business customers, helping them to save money on utilities, incentivise their staff with health insurance and sync their Starling app with Slack so their teams can enjoy real-time spending notifications wherever they’re working.”
Starling now has 1.4 million current account holders. In its latest funding round, Starling raised £40m, which the bank said will be used to further expand into the SME banking market. Since its launch in 2014, the bank has raised £363 million.
Starling is the fastest-growing bank for SMEs. In April, the British Business Bank approved it to join the list of accredited lenders under the Coronavirus Business Interruption Loan Scheme.
Although digital banking services have enabled businesses and individuals to manage their money during the Covid-19 pandemic, research from Finbold showed that challenger bank app downloads dropped by 23.38% at the end of March compared with February.
Stuart Templeton, head of Slack UK said: “In March alone, Slack users nearly tripled the rate at which they integrate their tools in Slack, signalling that more people were getting work done with apps. Slack provides a central location where users can streamline all their tools in a place where they’re already engaged throughout the day. We’re thrilled to see Starling Bank bring this offering to their business customers.”