Just wondered what peoples thoughts were on this ‘business bank.’
I think Starling has come out looking really good as a business bank during the crisis, as one of the few neo business banks to be able to offer BBLS loans they have probably seen a surge of new accounts being opened. I find the business bank platform to be pretty good and haven’t had any issues yet.
I find it interesting that Mettle seems to be making all the same mistakes as Bo when it comes to a new fintech venture backed by RBS. There is very little added benefit from the offering, you don’t get access to products and resources you would if you were an RBS customer, and the news feed from Mettle seems to be the same old drab ‘behind the curve’ alerts that Bo suffered from, alerting customers to features and services that have been offered by the competition for ages.
I suspect that Mettle will go the way of Bo within a year, especially as other fintechs in the space make more progress and high street banks bring out business bank offerings that are much more attractive offerings.
I would love to know how these things get approval in the first place and what KPI’s are used to determine their success.