16
NEWS
Metro Bank wins more FANS, eyes profitability
significant growth in 2016 across lending, deposits and customer account numbers. It also cut pre-tax losses to £11.7 million (compared to £46.6 million in 2015) and expects to move into profit this year.
U
Deposits grew 56% to £8 million, while lending was up 66% year-on-year to £5.9 million. The new entrant, which floated on the London Stock Exchange last March, gained 260,000 new customer accounts (it now has 915,000). It plans to open a further 10-12 new branches this year.
“We continue to show significant growth across lending, deposits and customer account numbers with continued integration of technology across all our channels, including stores, creating a compelling service experience for our retail and business customers,” says
Craig Donaldson, CEO at Metro Bank. “The year saw continued major investment in technology, stores and colleague training – c. £100 million in total – helping us to achieve a 62% full year increase in revenue and our second successive quarter of profitability. Our absolute focus on creating ‘FANS’ through our model, culture and fanatical execution goes from strength-to- strength.”
Scott Thompson
Bank of America early out of gate with Zelle the partner banks later this year.
Zelle person-to-person technology to its mobile platform. “As one of the first banks to offer mobile banking a decade ago, we’re excited to usher in a new era of high-tech, high-touch banking,” says Michelle Moore, Head of Digital Banking at Bank of America. “In 2017, you’ll see a strong focus on payments and intelligent solutions that will deliver personalised experiences clients never imagined were possible.”
B
As a founding member of Early Warning, Bank of America becomes one of the first banks to incorporate Zelle within its mobile banking app. This allows clients to use the existing contacts on their mobile device to transfer money to (or request money from) people within minutes, regardless of where they bank. They will also be the first Zelle users to be able to split expenses among multiple contacts or friends. The service is due to roll-out among all
ank of America has added Early Warning’s
Bank of America is working on other enhancements for 2017, including the ability to add cards to the digital wallet on customers’ mobile devices directly from the mobile banking app and to add cards to services such as Visa Checkout and MasterPass.
Scott Thompson K challenger, Metro Bank, reports
www.ibsintelligence.com © IBS Intelligence 2017
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