Metro Bank unveils open banking developer portal
Built in collaboration with Google’s Apigee team.
Built in collaboration with Google’s Apigee team.
New UK-based bank to be called Recognise.
Will be used for money management through bank’s mobile app.
Will allow businesses to accept debit and credit card payments as soon as account is opened.
Join from your own home, office, coffee shops, sheds and hot tubs.
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UK challenger Metro Bank has accelerated a data project delivery, cutting provisioning time by 80%, following the deployment of the Delphix Data Virtualisation platform. The bank began working with California-based Delphix to enable it to deliver data to teams better. The idea was to integrate enterprise software into an existing IT stack. Delphix says its […]
UK-based challenger bank Metro Bank has moved its IT infrastructure to a Rackspace managed cloud solution. Rackspace says this has reduced the bank’s close-of-business processing time by 50% and report production time by two-thirds.
UK-based Metro Bank says it has become the first high street bank to join the Faster Payments Scheme (FPS) since its launch.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Metro Bank has launched a new online banking platform for its commercial banking customers. It is based on the Backbase Onmichannel Banking Platform.
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SETL, Deloitte and Metro Bank say they have completed “a series of firsts”. SETL provided a contactless smartcard for digitised payments (based on blockchain), Deloitte applied its Smart Identity blockchain ID system, and Metro Bank hosted a connected client account.
UK-based Metro Bank will roll out Glory Global Solutions’ Vertera 6G teller cash recyclers (TCRs) across the bank’s new locations as well as replace older technology in existing outlets. Metro Bank will set up a number of new branches in the course of 2016 and 2017. The bank, which opened for business in 2010, currently has […]
Despite predictions over the last few years that banks were just a heartbeat away from adopting cloud technology, only 1% of banks are actually running core processing in the cloud today, according to a new report by Temenos.
Several of the UK’s major banking brands are losing customers to rivals such as Spanish bank Santander and building society Nationwide, according to figures released by the UK Payments Council – while competitor bank Nationwide continues to add customers.
The big four high street banks lost ground in the current account market in the first year of the UK Payments Council’s current account switching service, mainly through poor customer service. But the guarantee did not accelerate the pace of account switching, according to an independent survey of bank customers.
The challenger banks are coming of age. Aldermore, the UK’s fastest growing bank, is rumoured to be preparing for its IPO, just like OneSavings Bank, which was the first bank to list on the stock exchange since Bradford & Bingley in 2000.
The face of retail banking in the UK is changing. In July 2010, the sector witnessed something not seen in over 100 years – the launch of a new high street bank. And where Metro Bank led the way, new and non-financial consumer brands are following suit.
Essential parts of the UK retail banking sector lack effective competition and do not meet the needs of personal consumers or SMEs, according to government body the Competition and Markets Authority, which is now planning to launch a full investigation that could last 18 months.
The mobile payments system planned by the UK Payments Council will be branded Paym. The Council says that it will announce the go-live date next month and final testing is on track.
Staff at Metro Bank don’t have sales targets – instead, they are incentivised to enhance the customer experience, says Craig Donaldson, chief executive at Metro Bank. The bank is hoping this approach will pay off as it continues its campaign to win over the UK high street with the launch of a new branch at Cheapside in the heart of London.
Nationwide has reported a significant increase in the number of customers switching their main current account to the building society, following the introduction of the new seven day account switching service on 16 September – but not everyone is convinced.
Experts are saying millions of people will abandon their old banks and switch to a new provider, following the introduction of new rules on 16 September designed to make it easier to change banks. But estimates vary widely, from single digits to tens of millions.
Retail banking competition is likely to heat up over the next decade, with millions more people switching accounts every year, according to new research published by the Centre for Economics and Business Research. But current levels are still far behind those found in other industries such as electricity and gas utilities, the study found.
The introduction of seven-day account switching in the UK in September is a fundamental pillar of UK government plans to inject more competition into retail banking. But the plan has its critics – some of whom warn it may achieve the opposite of what it intends.
The introduction of seven-day account switching in the UK in September is a fundamental pillar of UK government plans to inject more competition into retail banking. But the plan has its critics – some of whom warn it may achieve the opposite of what it intends.