Target: Neobank Starling
this AM the Times reported both JP Morgan and Lloyds Bank are interested in acquiring Neobank Starling. About a one minute read.
Comment: Starling broke even in the most recent quarter, as reported in Fintech Flash News last week . And news of a possible bidding was corroborates my oft expressed view — the idea of Neobanks taking over an established incumbent is and always has been absurd. More likely, and as we see here, incumbents are acquiring Fintech startups like Starling. This will continue as The Corona Crash continues to disrupt business. In other words, Fintechs are R&D labs for incumbents, who will either acquire or duplicate