Starling Bank CEO Raman Bhatia Reportedly Set to Leave After Two Years

The reported leadership change comes as the UK digital bank navigates slower revenue growth, financial-crime control restrictions, and pressure to expand its technology business.

Starling Bank Chief Executive Raman Bhatia is reportedly preparing to leave the UK digital bank after around two years in the role, according to a Financial Times report published on 4 November 2026.

The report, cited by PYMNTS, says Bhatia privately told Starling’s board that he no longer wanted to lead the company. Three people familiar with the matter told the Financial Times that the board had responded by accelerating succession planning.

Starling declined to comment when approached by PYMNTS. The bank had not publicly confirmed Bhatia’s departure in the reports reviewed, so the development remains reported rather than formally announced.

The potential exit would come at a significant point for the digital bank. Starling is working to restore growth in its UK banking business while developing Engine, its banking technology platform for financial institutions.

Leadership change amid a challenging growth environment

Bhatia became Starling’s chief executive in March 2024, succeeding founder Anne Boden. He joined from energy company OVO, where he had served as chief executive, and previously led HSBC’s digital bank for retail banking and wealth management in the UK and Europe.

Boden founded Starling in 2014. She stepped down following tensions with investors over the bank’s valuation growth, as the company sought to build its position in a market that included competitors such as Revolut.

The reported departure comes as Starling faces questions about its growth trajectory and valuation. The Financial Times report also noted that Boden recently sold her remaining stake in the company at a valuation below the level discussed in a planned secondary share sale the previous year.

However, the report does not establish that valuation concerns caused Bhatia’s reported decision to leave. The reasons behind the potential departure have not been confirmed by Starling.

Revenue and profit declined in the latest financial year.

Starling remained profitable in the financial year ended 31 March 2026, but its reported results showed pressure on revenue and earnings.

According to the bank’s published results, group revenue declined to £887.4 million from £940 million in the previous year. Profit before tax was £217.1 million, compared with £223.4 million a year earlier.

Starling attributed the revenue decline primarily to a softer interest-rate environment. Lower rates reduced the contribution from its banking activities, while regulatory restrictions also moderated its ability to grow its UK customer base during the year.

Despite those pressures, the bank reported growth in platform accounts, which rose to 6.2 million from 5.3 million. It also said its technology business, Engine by Starling, continued to expand internationally.

The results point to a business balancing two priorities: maintaining a profitable core bank while building additional growth through technology services.

FCA restrictions remain part of Starling’s recovery.

Starling’s regulatory history remains an important part of its operating context.

The Financial Conduct Authority imposed restrictions on the bank in 2021 after identifying weaknesses in its financial-crime controls. The restrictions limited Starling’s ability to open accounts for certain high-risk customers.

In 2024, the FCA fined Starling £29 million over failures in its financial-crime controls. The regulator described those controls as “shockingly lax.”

At its May 2026 results, Bhatia said Starling was in the process of exiting the restrictions. The bank also reported that its customer growth had been affected by measures taken to address historical control gaps and strengthen economic-crime controls.

The regulatory issue is relevant to the bank’s growth strategy, but it should not be treated as a confirmed reason for Bhatia’s reported departure. Neither Starling nor the Financial Times report established that connection.

Fraud prevention is becoming a larger cost for digital banks.

Starling’s leadership news arrives as digital banks and fintechs face growing pressure to manage fraud and financial crime.

PYMNTS Intelligence research cited in the original report found that average fraud-prevention spending among neobanks, digital-only banks, and fintechs increased from $1.8 million to $8 million per institution over a year—a reported rise of 357%.

Average fraud losses also increased, from $800,000 to $2.8 million. At the same time, the fraud-loss rate fell from 0.90 to 0.72 basis points.

The figures suggest that institutions may be losing a smaller share of transaction value while spending considerably more to prevent fraud. However, the data is sector-wide and does not establish Starling’s own fraud-prevention spending or losses.

For digital banks, this creates a difficult operating equation. They must maintain customer confidence and meet regulatory expectations while controlling the costs of prevention, investigation, and compliance.

The engine remains central to Starling’s next phase.

Starling’s technology platform, Engine, is an important part of its strategy beyond the UK retail banking market.

The platform provides banking technology to financial institutions internationally. Starling reported that Engine revenue grew by 25% in the year to March 2026, while its client base doubled.

That growth offers the group another route to expansion, particularly as the UK banking business faces interest-rate pressure and regulatory constraints.

A leadership transition could therefore matter not only for Starling’s retail bank but also for the group’s wider technology ambitions. The next chief executive will need to oversee the bank’s operational and regulatory priorities while supporting growth across its businesses.

What to watch next

The immediate questions are whether Starling confirms Bhatia’s departure, when any transition will take place, and who will succeed him.

The reported succession process also comes alongside a planned change at group level. Starling previously said Chair David Sproul would step down once a successor was appointed, creating another leadership transition to monitor.

Investors and the wider fintech market will also be watching Starling’s progress in exiting its FCA restrictions, the performance of its UK banking business, and the continued expansion of Engine.

For now, Bhatia’s potential departure is an important leadership development—but not yet a formally confirmed change. ` The next official statement from Starling will determine the timing and structure of the transition.

Starling CEO Departing After 2 Years With Digital Bank

Anne Bodenbanking leadershipdigital bankEngine by StarlingFCAfinancial crime controlsNeobankRaman BhatiaStarling BankStarling CEOUK fintech