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UK’s Metro Bank To Buy P2P Lender RateSetter For At Least $3.27M

PYMNTS

London-based Metro Bank has struck a deal to buy peer-to-peer lender RateSetter for £2.5 Metro will make additional payments to shareholders if RateSetter reaches certain benchmarks, according to a news release. Metro Bank will operate RateSetter as an independent entity and make loans under both its and Metro Bank brands.

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RBS Fund Takes Back £50M From Metro Bank

PYMNTS

After Metro Bank recently pulled back from plans to expand and decided to move away from lending for mortgages, the bank said it will return £50 million from the RBS bailout fund, according to a report. Three banks – Metro, Starling and ClearBank – were collectively given £280 million from the RBS bailout fund last year.

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Metro Joins Bacs For SMB Direct Debits

PYMNTS

challenger bank Metro Bank has joined the Pay.UK-operated operated Bacs and partnered with Boston payments firm Bottomline Technologies to enable direct debits for small to medium-sized businesses (SMBs), Metro announced on Wednesday (Feb. SMBs and FinTechs. Unlike the U.S.,

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UK Metro Bank Hit By Messaging Scams

PYMNTS

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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Alibaba Bids For Metro Brick-And-Mortar Stores In China

PYMNTS

One of the hottest battlegrounds in eCommerce these days — and that includes global, multi-pronged, behemoth eCommerce operators — is a firm in the physical world, the brick-and-mortar stores and chains that, for various reasons, are increasingly attractive to the likes of Amazon , Alibaba and others. Store Woes. go there to shop,” she wrote.

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Metro Bank Pulls Back On Commercial Lending

PYMNTS

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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What is happening at Metro Bank and why is it in need of so much money?

TheGuardian

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. Continue reading.

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