As part of its involvement with the British team, the London-based bank, which focuses on current and business account products, will offer each athlete a Starling retail account with £100 deposited to help them towards their next financial goal.

Commercial partnerships, such as the new arrangement with Starling Bank, help Team GB fund its objective of taking athletes to the summer and winter editions of the Olympic Games.

“In an extremely competitive sector, we are excited and proud to be partnering with Starling Bank ahead of Tokyo 2020," Andy Anson, British Olympic Association chief executive, said.

"As a market leader in digital innovation and with a strong focus on customer experience, they have rightfully been recognised as best British bank on two occasions.

 “We share many of the same values and we look forward to welcoming them to the team as we go into this vital five-month period ahead of the Games commencing.”

This year's Olympic Games are scheduled to take place in Tokyo in Japan from July 24 to August 9.

 “My own experience with Team GB taught me just how important the support of sponsors is when you’re trying to prepare for the Games in the right way, perform to the best of your ability and win medals," said Helen Bierton, chief banking officer at Starling Bank and a former British Olympic archer.

 “I feel very proud to now sit on the other side of the table and it is great to be part of the Olympic Games once again."