UK Mobile Bank Starling Looking to Buy a US Lender in Expansion
According to a person with subject information, Starling Bank, one of the largest mobile banks in the UK, wants to buy a national hired bank in the USA to continue the company’s expansion in the market.
According to a person who wants to be defined to discuss the information that is not open to publicly, the London -based company is starting negotiations to hire US bankers to start the purchase process this summer, focusing on the east coast with approximately $ 2 billion assets.
When Starling announced that it would offer banking technology on the market and recorded a subsidiary in Delaware, the first raid on the United States earlier this year. The aim is to buy a bank with modern banking technology and a bank with digital offers that can be developed with modern banking technology.
Starling spokesman refused to comment.
The movement can now be easier than Joe Biden’s presidency, especially when the regulatory examination undergoes agreements between banks. In addition to merger and acquisitions, financial technology companies may attack the opportunity to obtain banking statutes among lighter regulations under President Donald Trump’s administration.
The US had a solid Fintech industry for many years with lower company values and less financing. Fintechs, Circle Internet Group Inc. and Chime Financial Inc. with the trade outlets of this month and the ramp provided financing of $ 200 million.
Raman Bhatia, Chairman of the Starling Executive Officer, played the biggest role last year after the founding mother Boden’s work in 2023. Shortly after joining Starling, Bhatia was fined £ 29 million for the loose functioning of risky customers between September 2021 and November 2023.
Starling’s UK competitors are Revolut Ltd. and Monzo Bank Ltd. While the US bank licenses have not yet received licenses, Oaknorth agreed to buy Michigan -based Community Bank Birmingham earlier this year.
With the help of Aisha S Gani.
This article was created from an automatic news agency feeding without changing the text.
