ICEW Anthony thompson metro_bank
•Download as PPT, PDF•
2 likes•2,249 views
Metro Bank aims to differentiate itself from other UK banks by putting customers first and focusing on retail banking experience over interest rates, in order to create "fans not customers." They plan to achieve this through their model of convenient branch locations, culture of customer service, and relentless execution of small details. Metro Bank's goal is rapid expansion to 200 locations in 10 years to build a loyal customer base through a superior customer experience.
More Related Content
Similar to ICEW Anthony thompson metro_bank
Similar to ICEW Anthony thompson metro_bank (20)
More from Chantel Botha
More from Chantel Botha (20)
Recently uploaded
Recently uploaded (20)
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
- 3
- 3