Metro Bank, the UK-based retail bank co-founded by celebrated US-retail banker Vernon Hill, is set to launch its online channel following the successful debut of its first branch on 29 July.
Hill told RBI that Metro’s internet banking service would launch during the first week of August.
Metro’s main IT partner is Swiss-based Temenos via its T24 platform.
Hill said:”T24 gives us a competitive advantage by delivering functionality we need to support our UK business model on a single software platform, which keeps costs low and delivers a single customer view that allows us to deliver superior service to our clients. We want to build fans not customers; with Temenos we have a world class software provider which will help us achieve this.”
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Metro has outsourced the management of its ATM estate, domestic and international payments and debit card processing to VocaLink.
Despite Metro’s opening range of products failing to excite the price-comparison community – by its own admission Metro will rarely feature near the top of best-buy tables – Metro is pleased with initial account opening numbers.