Starling Bank's latest financials: soaring profits, but gathering clouds 🌤️; Synapse's collapse exposes risks in FinTech's Banking-as-a-Service model ⛔️

FinTech is Eating the World, 12 June

Hey Everyone,

Good morning & happy Thursday! Today we’re looking at Starling Bank which is showing soaring profits, but clouds are gathering (breaking down their latest annual report, uncovering the most important numbers & what’s next for Starling + a bonus deep dive into Monzo & why it’s super exciting), and Synapse's collapse that exposes risks in BaaS (a quick overview of what happened, why it matters & what’s next). Let’s jump straight into the interesting stuff 🌶

Starling Bank’s latest financials: soaring profits, but gathering clouds 🌤️

The news 🗞️ Starling Bank, the leading digital bank in the UK, just released its 2023 annual report demonstrating exceptional financial performance and growth potential.

Despite some rising concerns, the British neobank is still a fundamentally strong business and a compelling investment opportunity as it readies for the IPO.

Let’s take a closer look at the key facts & figures, uncover the most important numbers, and see what’s next for Starling.