‘Women in finance can’t let self-doubt in, otherwise the job won’t get done’

Anne Boden broke away from her ‘safe’ job to found Starling Bank.

‘Iwas clinking glasses of Prosecco at a networking party in 2014 when someone said to me, “So, Anne, what are you doing now?” “I’m going to start a new bank,” I replied, watching as people backed away from me. They thought it was impossible, but I’ve proved them wrong.

After graduating in computer science and chemistry in 1978, I built a career in finance working for banks including Lloyds and RBS. I was proud to be a banker, but after the financial crisis, banks lost ordinary people’s trust. I wanted to build a new bank that operated in a transparent way, so in 2013, I quit my job. Sceptics thought, “People don’t start banks.” The subtext? “Women don’t start banks.”

Running a start-up, things always seem like they’re about to fall apart! The first thing I did was to organise a meeting with a regulator to get a banking licence. The hardest part was raising money; I remember one winter’s night walking from corporate office to corporate office, trying to convince law firms to help. As I looked inside, I saw everyone working. I’d given up that life for an entrepreneurial adventure, but worthwhile things are the hardest to pull off.

Five years on, Starling has more

than 300 staff. We don’t have branches and operate via an app. Users get notifications when they make a payment and a current account is free. Overseas payments are free, too, and users can set up savings goals.

Starling makes money from interest margins and overdraft charges. Our costs are low – we don’t have armies of people sitting on committees! My vision is for people all over Europe to use Starling, but what I’m excited about are the services we’re providing for businesses. If you’ve got a small business or side project that makes a bit of money, you can set up a current account for yourself and one for your business on the same app – very convenient.

Women in finance can’t let self-doubt in, otherwise the job won’t get done. I had it tougher than men, but back then I didn’t take much notice and just carried on working hard. There are advantages to being a woman, too – we’re used to standing out, so we’re not afraid to speak up.’

My 2019 trend prediction We’ll start seeing how artificial intelligence can benefit individual consumers. What if technology could help you get a better deal, or predict how much money you’re likely to have at retirement?