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Starling Bank Marketplace – The Buzz

Starling Bank Marketplace – The Buzz


Hi and welcome to the PensionBee Buzz. I’m Jonathan, the CTO here at PensionBee and
I’m joined today by Megan Caywood, the Chief Platform Officer at Starling Bank. Hi! So I lead our Marketplace and our API strategy
at Starling and we’ll be talking a little bit about that today. So Megan, the topic of the day is the Starling
Marketplace. So what is the Starling Marketplace? So the Starling Marketplace is a portion of
the Starling app where customers can find additional financial products, that they can
easily sign up to and use as well as view and manage ongoing in Starling. That’s the main way people usually think about
the Starling Marketplace. So Megan, why did Starling build a Marketplace? Yeah, so we wanted to give our customers control
and choice over the various aspects of their finances. So we want to be the world’s best current
account but we recognise that we can’t also be the world’s best mortgage and pension and
insurance and all these different products that our customers need. So rather than trying to be everything to
everyone, we decided instead to create this Marketplace where we can integrate best-in-class
products from across the market, enable our customers to easily access those all from
within Starling. Now at PensionBee, obviously we do pensions! So my question is, why did you choose to put
a pension onto your Marketplace? So when we first started building and designing
the Marketplace, we decided to do a set of customer research to understand what our customers
needed and expected from this Starling Bank Marketplace. So the first part of the research was a qualitative
portion where we sat down with our customers and talked to them about their needs. Then we did a set of quantitative research
where we asked our customers what products they were actually using. And so from that, what we identified was that
pensions were one of the highest prioritised needs for our customers who really want to
stay on top of their finances and feel like they’re making healthy financial decisions
to save for their future. Now why would you pick PensionBee to be one
of your first partners? So when we evaluate partners for the Marketplace,
we look at a few things. So one, we look at the partner’s transparency,
their fairness, we look at their product and how easy it is to use, and how it serves customers’
needs. We really like to work with other partners
who have a product that’s intuitive, that’s simple, that helps people and makes their
lives easier. And when we found PensionBee, we saw that
was a way of revolutionising this particular area within pensions, and that really fit
with the ethos and the brands that we’re trying to fill within our Starling Marketplace so
it was just a natural fit for us. Thanks very much, Megan! That’s been really interesting. Thanks to you for watching! As always, if you’ve got any questions please
leave them in the comments, and don’t forget to subscribe! See you on the next PensionBee Buzz!

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