U.K. Startup Bank Starling Says European Push Starts Amid Brexit
- Smartphone lender expands less than a year after U.K. license
- CEO says Brexit won’t affect plan to expand across Europe
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Starling Bank, a British financial startup that lends via smartphones, is targeting expansion in the European Union even as the future of cross-border banking comes under threat from Brexit.
The company run by former Allied Irish Banks Plc executive Anne Boden won approval from the Bank of England to operate in Ireland under the EU’s passporting arrangements, according to a statement on Monday. The expansion, which must be granted by a bank’s home regulator, comes less than a year after the company gained its U.K. banking license.