I was walking through my hometown in Peterborough last week when I stumbled across a brand-new Metro Bank outlet. It’s a pretty impressive building, and as the Bank’s 50th branch, it celebrated with a two-day grand opening party.
Despite Metro Bank’s self-proclamation as the ‘revolution in British banking’, I noticed most passersby staring in bewilderment. It was clear that most people had never seen or heard of Metro Bank before.
When it opened in 2010, Metro Bank was the first new high street bank to launch in over 150 years. It was viewed as a legitimate ‘challenger’ to the Big Four (HSBC, Barclays, Lloyds, RBS), offering branches open seven days a week, walk-in appointments and straightforward products. Different, yes. ‘Revolutionary’, not so sure.
Read more “Disrupting the banking market”