PYMNTS

FEBRUARY 26, 2020

After a reporting error that caused the exit of its chief executive and chairman in 2019, Metro Bank has announced that it is scaling back its expansion efforts and moving away from lending for mortgages, according to a report by the Financial Times. Frumkin said on Wednesday (Feb.

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TheGuardian

OCTOBER 8, 2023

JP Morgan also approached as Metro reportedly tries to thrash out rescue package with investors The Bank of England’s regulatory arm is understood to have approached a number of big lenders in the past few days, including NatWest and JP Morgan Chase, to see if they had any interest in the embattled high street rival Metro Bank.

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PYMNTS

DECEMBER 11, 2019

based Metro Bank has begun piloting a new corporate expense management solution in partnership with Canadian FinTech Sensibill , a press release said Wednesday (Dec. Accounting tasks, along with chasing invoices and staying on top of receipts, are major pain points for [SMBs],” said Metro Bank Chief Commercial Officer Paul Riseborough. “By

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The Paypers

NOVEMBER 13, 2024

Metro Bank has been fined nearly GBP 17 million by the UK’s financial watchdog FCA for failings in its money-laundering controls over four years.

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Metro 41

TheGuardian

OCTOBER 5, 2023

Stock falls by 25% in early trading as high street lender seeks to raise £350m to shore up its balance sheet Metro Bank shares have plunged after news that the high street lender is seeking to raise hundreds of millions of pounds to shore up its balance sheet.

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The Paypers

OCTOBER 16, 2024

Metro Bank , a UK-based community bank, has entered into a collaboration with BankiFi to launch Invoice It, a new solution that intends to support SMEs in sending and receiving payments.

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PYMNTS

MARCH 9, 2020

To provide a digital lending offering for small business clients, Metro Bank has collaborated with banking software provider ezbob. Metro Bank Chief Commercial Officer Paul Riseborough said, according to reports, “We know quick, reliable access to finance is crucial for small businesses to seize opportunities to grow.

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PYMNTS

DECEMBER 16, 2019

Metro Bank has launched an app called MCash for small- and medium-sized businesses (SMBs) to pick up and drop off cash as needed, according to reports on Monday (Dec. Metro Bank’s customers will make about 250,000 trips to either deposit or take money out every year, an activity that totals about £30 million of deposits every month.

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Bank Innovation

JANUARY 23, 2019

Metro Bank Plc fell the most since going public after applying an incorrectly low-risk weighting to parts of its loan book, with the British lender’s chief saying he doesn’t know how long the mortgages in question had been wrongly classified. The shares plunged as much as 34 percent Wednesday and the bank’s bonds also fell […].

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PYMNTS

FEBRUARY 8, 2019

To that end, Metro Bank said earlier this week that at least some of its customers had been victimized by fraud that focuses on text messages sent across telecom companies’ networks that Reuters reported are used to verify transactions. Metro said that the attacks are leveled at a number of British banks, a roster that includes Metro. “Of

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TheGuardian

OCTOBER 9, 2023

Lender confirms customers have started to pull money out amid worries over its financial health What is happening at Metro Bank? Metro Bank is launching a fresh cost-cutting drive after the embattled lender clinched a £925m rescue package from investors over the weekend.

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Metro 77

TheGuardian

OCTOBER 4, 2023

High street lender recently failed to convince regulators it could be trusted to hold less cash against its mortgage risks Metro Bank is considering raising hundreds of millions of pounds from investors, weeks after the high street lender failed to convince regulators it could be trusted to hold less cash against its mortgage risks.

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TheGuardian

DECEMBER 12, 2022

FCA also penalises two of challenger bank’s former top executives The City regulator has fined Metro Bank and its two of its former top executives more than £10m for misleading investors.

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Metro Regulation 78

Bank Innovation

APRIL 17, 2018

Metro Bank today revealed the launch of a new AI- powered money management tool called Insights. The tool will continuously monitor users’ transactions in real-time to better understand clients’ spending habits. Insights was developed with AI chat […].

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PYMNTS

OCTOBER 3, 2019

The ongoing fallout from an accounting error at Metro Bank will now see Founder Vernon Hill completely exit the group after previously announcing he would remain on the board. “Vernon is the inspiration behind Metro Bank , the first high street bank to open in the U.K. Reports in The Guardian on Wednesday (Oct. 31, reports noted.

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PYMNTS

SEPTEMBER 17, 2019

Metro Bank senior managers are being grilled by the U.K. Metro Bank is also being investigated by the Bank of England’s Prudential Regulation Authority and is ready to issue loss-absorbing debt as required of large banks. . Regulators are also looking over Metro Bank’s regulatory reporting and governance for compliance. . “As

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PYMNTS

SEPTEMBER 17, 2019

challenger bank Metro Bank, the financial institution is reportedly looking to reduce its corporate loan exposure and wind down commercial lending operations. Metro will look to instead focus on residential property financing as it seeks a new chairman. Following a series of setbacks for U.K. The Times on Sunday (Sept.

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Metro Lending Fraud Capital 100

TheGuardian

AUGUST 4, 2024

The challenger bank has often taken chances but a new business model positions it as more the opportunist rather than the rebel Metro Bank bosses are breathing a sigh of relief. Less than a year after the bank was forced into the arms of a Colombian billionaire as part of a £925m rescue deal, it is coming back from the brink.

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Metro 61

PYMNTS

FEBRUARY 14, 2019

14) when an exclusive report from Reuters said that Alibaba wants to buy a stake in the Chinese wholesale operations of Germany-based Metro AG. Those Metro stores that Alibaba reportedly wants still seem to have some life left in them. Metro reported that same-store sales in Asia rose a currency-adjusted 7 percent to €1.04

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PYMNTS

OCTOBER 23, 2019

Metro Bank Co-founder and Chairman Vernon Hill stepped down as chairman on Wednesday (Oct. Earlier this year, Metro Bank revealed an accounting error that kicked off a rocky year, and led some of its top clients to leave the bank. Metro’s stock has fallen nearly 90 percent over the course of this year. million ($6.3

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PYMNTS

AUGUST 12, 2019

Metro) is embroiled in a dispute with bus maker New Flyer of America. Metro to tie procurement to job commitments by awarding contracts based on vendors that could meet those requirements for salary and job creation. Metro first did so with a 2012 rail car contract, reports said. Metro declined to comment, reports said.

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BankInovation

OCTOBER 12, 2023

Metro Bank is considering growth strategies and digital investment plans following a tumultuous month that nearly ended in a collapse similar to Silicon Valley Bank’s downfall in the spring. Last week, the London-based bank’s stock plummeted 30% and talks of a necessary capital raise and potential sale swirled.

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Metro Strategy Capital Retail 53

TheGuardian

SEPTEMBER 11, 2023

I moved house a few years ago and have been passed from pillar to post as I try to update my details I have an Isa with Metro Bank that I have had for 15 years or more. I had to complete a validation process, which I failed, but Metro refused to tell me why. My problem is, I keep failing its security checks. Continue reading.

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Metro Security 62

The Paypers

SEPTEMBER 19, 2024

Metro Bank, a UK-based community bank has announced its partnership with Infosys to upgrade various IT and support functions.

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PYMNTS

SEPTEMBER 23, 2019

Metro Bank in the U.K. Metro Bank PLC thanks the broad number of investors who have met with the company and shown interest in their potential inaugural MREL issuance,” the bank said. Given the current market conditions though Metro have elected to not proceed with a transaction at this time.”.

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The Paypers

JULY 29, 2024

NatWest Group has announced an agreement with Metro Bank to acquire a GBP 2.5 billion portfolio of prime UK residential mortgages, with a weighted average current loan to value of c.62%.

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Metro Groups 36

TheGuardian

MARCH 13, 2024

Lender nearly triples size of cost-cutting plan to £80m after autumn rescue deal Business live – latest updates Metro Bank is cutting 1,000 jobs and ending its trademark seven-day branch model, after nearly tripling the size of its cost-cutting plan after its autumn rescue deal.

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Metro 76

PYMNTS

FEBRUARY 4, 2019

Metro Bank, a British financial institution launched in 2010, said it was targeted by cybercriminals in a scheme where a vulnerability in text messaging between the bank and customers was used as an attack, according to a report by Reuters. The bank said on Monday (Feb. 4) that the fraud was also perpetrated on other British banks.

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Metro Fraud Study Capital 122

The Paypers

MAY 28, 2024

Metro Cable , a provider of high-speed gigabit internet access has partnered with banking technology provider Velmie to launch a digital wallet named Vult.

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PYMNTS

DECEMBER 10, 2018

In addition, PUC Berhad is teaming up with Revenue Group Berhad for online-to-offline (O2O) payments in Malaysia , and the United Kingdom’s Metro Bank is upgrading its mobile app to bring mobile payments to over 38 nations. Coverage includes Singapore’s Singtel rollout of international payment options in its Dash mobile app.

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PYMNTS

AUGUST 5, 2019

The Indian arm of German retailer Metro Cash and Carry has announced the launch of an app for kirana stores, allowing retailers to order stock, keep a check on inventory, and facilitate payments directly from their smartphones. There are plans to launch the app across all of its 27 stores in 17 cities in the near future. “The

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Metro Retail Online Fintech 110

TheGuardian

OCTOBER 5, 2023

The bank is operating at the edges of its capital requirements and shares have tumbled by 30% Metro Bank’s shares plunged by 30% on Thursday after it emerged on Wednesday night that the lender was preparing to ask investors for hundreds of millions of pounds to shore up its balance sheet. Here’s what it means for the bank and its customers.

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PYMNTS

FEBRUARY 14, 2019

14) when an exclusive report from Reuters said that Alibaba wants to buy a stake in Germany-based Metro AG’s wholesale operations in China. Those Metro stores that Alibaba reportedly wants still seem to have some life left in them. Metro reported that same store sales in Asia rose a currency adjusted 7 percent to 1.04

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Metro Retail Operations Online 100

TheGuardian

OCTOBER 6, 2023

Lender’s stock hit all-time low after news it was exploring selling off up to 40% of mortgage book Metro Bank shares rebounded from all-time lows on Friday , amid reports that the embattled lender was sitting on a £600m offer from bondholders that could cover its looming funding pressures.

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Metro Report Capital Regulation 61

TheGuardian

NOVEMBER 30, 2023

Lender to ramp up cost-cutting plans after rescue deal and assess seven-days-a-week branch model Metro Bank plans to cut about 800 jobs by the end of March, and review its famous seven-days-a-week branch model, after ramping up cost-cutting plans in the wake of last month’s multimillion-pound rescue deal.

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Metro 62

TheGuardian

OCTOBER 9, 2023

Chief executive’s boast that there is nothing wrong with its business model will sound hollow to those nursing a 97% loss Once upon a time, Metro Bank was going to shake up the old guard in the banking world via the radical strategy of opening branches while others were closing them. Those investors have now received a harsh lesson.

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Metro Strategy Retail Marketing 61

TheGuardian

NOVEMBER 27, 2023

Jaime Gilinski Bacal to increase stake to 53% as lender secures £325m in new capital and £600m of debt The embattled high street lender Metro Bank can proceed with a multimillion-pound rescue deal after receiving approval from its shareholders.

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