Reputation, trust and retail banks

In the UK, high street (retail) banking is dominated by a handful of five, big brands so similar you’d be hard pushed to fit a cigarette paper between them. So news of Metro bank’s launch, which The Telegraph newspaper points out is the first new entrant to this market in 100 years, ought to be welcomed, didn’t it? Especially when you hear its billionaire founder Vernon Hill likes to have fun and plans to “to eliminate every stupid bank rule we can find." How refreshing. Well, on the surface, yes. Any new-comer promising to shake things up and put customers ... read the full post »