Metro Bank services 'could shake up high street banking'

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Metro Bank services 'could shake up high street banking'

Metro Bank could have a major impact on the quality of service offered by the whole banking industry, it has been suggested.

Speaking as his organisation revealed consumers believe banks to be among the worst organisations at providing customer service, moneysupermarket.com's Kevin Mountford indicated that the UK's first new high street bank in a century might bring about widespread changes.

In February, the Telegraph quoted Metro's largest shareholder and vice-president Vernon Hill as saying his company wants to get rid of traditional rules, such as banks being closed on weekends, not being open during evenings and not allowing accounts to be opened rapidly, with cards issued on the spot.

And Mr Mountford implied that other lenders might look to take a leaf out of its book.

"The introduction of Metro Bank to the high street, a provider we expect to compete strongly on quality service, may force some of the old guard into a rethink," he commented.

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