ICEW Anthony thompson metro_bank
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ICEW Anthony thompson metro_bank
- 1. Putting the customer first Creating fans not customers Anthony Thomson Co-founder and Chairman
- 2. Agenda • A bit about us • Our philosophy • How we deliver it
- 3. Metro Bank •UK’s first new High Street Bank in over 100 years •Retail and commercial •7-Day branch banking – early ‘til late •Telephone, internet, mobile •15 minute account opening • Instant card issuance • Instant cheque book
- 4. Metro Bank • 10 stores open to date • 12 stores in 2012 • 60 stores after 2015 • 220 Locations in Metro London in 10 years
- 5. The Metro Bank Philosophy Core Deposits Create Value Customers Will Trade Lower Rates for a Better RETAIL EXPERIENCE Great Business Creates FANS not Customers
- 6. Choosing a Bank in the UK Branch near where I lived/worked Competitive interest rates Source: UK Office of Fair Trade June, 2008
- 7. Great retailer s are about model, culture and execution • Differentiated model + • Unique culture that reinforces the model + • Relentless execution = Fans not customers
- 8. A dif ferentiated model • Customers want a better banking experience • They want value • Service is more important than rate • Create fans not customers
- 9. Metro Bank model • Retail not banking • Change the experience – Service – Convenience • Sales or service? • Create an emotional bond • Fans not customers
- 10. A culture that matches the model • A culture that fits the model – Clear, pervasive • Buy in or opt out • Reward for service not sales • Fun
- 11. T he Metro Bank culture • Find the right people • Recruit for attitude and train for skills
- 12. T he Metro Bank culture • Empower them • Reward them • Measure what matters – Satisfaction – Complaints – Advocacy – NPS
- 14. Relentless execution • Retail is detail • Belief in the model • Uncompromising – 100% execution • ‘Walk a mile in their shoes’
- 15. Model culture and execution -a better banking experience • No stupid bank rules • Pens • Vans • Dogs rule! • Coin counting
- 16. Better banking experience creates satisfied customer s • How satisfied are you with your bank Dissatisfaction by Bank Santander 67.0% Barclay’s Bank 41.0% HBOS 48.0% NatWest/RBS 38.0% Lloyd’s TSB 41.0% HSBC 36.0% • Metro Bank: • Overall satisfaction rating 94% • 84% would recommend to a friend
- 17. The Metro Bank Philosophy Core Deposits Create Value Customers Will Trade Lower Rates for a Better RETAIL EXPERIENCE Great Business Creates FANS not Customers
- 18. The Commerce Bank Experience B esl o ved M o s t by it r ehol ders Sha and u stom ers C
- 19. A Growth Model Millions 428 Average $ Annual Increase Assets +29% Deposits +30% Loans 150 +28% 27 # of stores Assets $1.0B $8.3B $45.3B Market $24M $1.5B $8.5B Capitalisation
- 20. Value of $10,000 Invested in CBH in 1973 $4,742K @ $38.14 0x 47 47x $1,956K $956K $10K $108K $15.00 $1.27 $0.95 $0.65 $0.15 1973 1991 1997 2000 2007 Cost basis adjusted for splits and stock dividends
- 21. Metro Bank 10 Year Plan Assets £M £256 £909 £4,402 £23,089 # of Stores 4 24 60 200
- 22. In conclusion • Profit is a by product • Build store by store, customer by customer • Look at the great retailers • Create fans not customers
Editor's Notes
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