Starling Bank is set to cut around 130 jobs as it ramps up its AI push amid declining profits.
The London-based fintech’s staff were told this week that it would be restructuring its banking and technology operations, according to people familiar with the process cited by the Financial Times.
Starling said the changes were being made to simplify its operations, reduce duplication and drive product delivery.
“A key factor in our competitive edge over legacy banks is our agility; our ability to test, launch, learn and reorganise at pace,” a spokesperson for the bank added.
The digital bank’s total revenue for the year to March was £887.4m, down from £940m in 2024. Its pre-tax profits also fell by 3% to £217m.
Starling has been an early adopter of AI among its fintech peers. In June last year, it launched AI-powered intelligence tools for spending insight and scam detection.
The company introduced Starling Assistant in March, a tool that can carry out simple tasks like setting up savings goals and organising bill payments.Fintech giant Revolut launched a similar in-app AI assistant in April.
