What have we done so far?

• Our first two stores in the North will open in December in Manchester and Liverpool, construction is underway in Sheffield and we have taken possession of our site in Bradford.
• We’re paying for all store capital costs and C&I funds will be used to fund frontline roles for 18 months, until our stores break even.
• We are on track to open 21 of our 30-store commitment within three years of receiving C&I funding.
• All our stores will be open seven days a week, early until late, offer in-store debit and credit card printing, safe deposit boxes and access to a Local Business Manager.

What have we done so far?

• Our first store in the North will open in Manchester this December, and our second, in Liverpool, will open in early 2020. Construction is also underway in Sheffield and we have taken possession of our site in Bradford.

What have we done so far?

• Our artificial-intelligence led Business Insights capability launched in September.
• MCash, our mobile cash pick up and drop off service, has completed a Proof of Concept and will launch to SME customers by the end of 2019.
• Work on our straight-through business current account online application is under way and this will be available to customers in 2020.
• Our new tax submission, bookkeeping, invoicing and receipts, mobile and online banking proposition, together with our cloud accounting service, have both completed Proofs of Concept and will also launch to SME customers in 2020.
• Work on our end-to-end payments and accounts receivable solution has begun and is on track to deliver in 2021.

What have we done so far?

• The launch of our Trade Services capabilities with partner Conance went live on 30th September 2019.
• Our work to offer SME customers the ability to accept direct debits requires an available industry release slot with the Bank of England and Bacs. The first available slot means the timeline for delivering direct debit capabilities to SMEs will be a few weeks later than planned, moving from the end of 2019 to February 2020.
• Our new Small Business Loan platform will be delivered one quarter earlier than originally planned, going live in Q2 2020 instead of Q3.
• Our new SME overdraft proposition has moved from Q1 to Q2 2020 and the enhanced commercial credit card proposition has moved to Q3 2020 instead of Q1 as originally planned. These changes are to allow development of the required credit decisioning engine and enable full integration with our online banking platform. The impacted initiatives will still deliver as planned in 2020.
• New liquidity management tools will be made available to SME customers, starting in 2020 as planned. Work will start on both the Revolving Credit Facility and the Secured Lending platform in late 2019 and early 2020 with both initiatives expected to deliver in line with plan.

What have we done so far?

• Metro Bank was ranked second for overall service quality for business current accounts in the most recent CMA service rankings (August 2019)

What have we done so far?

• We’re still committed to matching every pound from the Capability & Innovation Fund with two of our own.

What have we done so far?

• We have partnered with three UK SMEs so far – Conance, Funding Options and DueDil - and are working with a further five to deliver our bid commitments. We’ll be working with more as additional initiatives are mobilised.

What have we done so far?

• We’re providing BCR Ltd with access to real-time Microsoft Power BI dashboards to track our progress against agreed project milestones in June 2019 as planned.
• Each quarter we will publish an update on our BCR commitments on our website so stakeholders can monitor our progress.