Questions over how Starling Bank handed out 15,000 Covid loans a month

Bounce-back lender criticised by ex-minister over fraud controls added almost 250,000 new accounts in pandemic, analysis shows

The online bank singled out by a former government minister over the effectiveness of its counter-fraud measures was “onboarding” an average of 15,000 new customers a month during the Covid crisis, according to analysis by the Observer.

Figures from Starling Bank’s last annual report show the eight-year-old lender has grown its business customer base from 87,000 before the pandemic to 330,000 business accounts as of last spring.

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