Starling Bank to cut jobs to simplify operations as profits dip

Starling Bank is restructuring its banking and tech operations to simplify processes and reduce costs following a dip in profits. The London-based fintech will eliminate 130 roles, representing 3% of its workforce, to remove duplicate positions. Simultaneously, the neobank plans to increase investment in artificial intelligence to drive operational efficiency. These strategic changes aim to streamline the organisation's structure while leveraging AI technology to lower expenses and improve overall performance within the digital banking sector.