International Customer Experience World Conference hosted by The Focus Group

1. Putting the customer first
Creating fans not customers
Anthony Thomson
Co-founder and Chairman

2. Agenda
• A bit about us
• Our philosophy
• How we deliver it

3. Metro Bank
•UK’s first new High Street
Bank in over 100 years
•Retail and commercial
•7-Day branch banking – early
‘til late
•Telephone, internet, mobile
•15 minute account opening
• Instant card issuance
• Instant cheque book

4. Metro Bank
• 10 stores open to date • 12 stores in 2012
• 60 stores after 2015 • 220 Locations in Metro
London in 10 years

5. The Metro Bank Philosophy
Core Deposits Create Value
Customers Will Trade Lower Rates for a
Better RETAIL EXPERIENCE
Great Business Creates
FANS not Customers

6. Choosing a Bank in the UK
Branch near where I lived/worked
Competitive interest rates
Source: UK Office of Fair Trade June, 2008

7. Great retailer s are about
model, culture and
execution
• Differentiated model
+
• Unique culture that reinforces the model
+
• Relentless execution
= Fans not customers

8. A dif ferentiated model
• Customers want a better banking
experience
• They want value
• Service is more important than rate
• Create fans not customers

9. Metro Bank model
• Retail not banking
• Change the
experience
– Service
– Convenience
• Sales or service?
• Create an emotional
bond
• Fans not customers

10. A culture that matches
the model
• A culture that fits
the model
– Clear, pervasive
• Buy in or opt out
• Reward for service
not sales
• Fun

11. T he Metro Bank culture
• Find the right people
• Recruit for attitude
and train for skills

12. T he Metro Bank culture
• Empower them
• Reward them
• Measure what
matters
– Satisfaction
– Complaints
– Advocacy
– NPS

13. Customer Feedback

14. Relentless execution
• Retail is detail
• Belief in the model
• Uncompromising – 100% execution
• ‘Walk a mile in their shoes’

15. Model culture and
execution -a better
banking experience
• No stupid bank rules
• Pens
• Vans
• Dogs rule!
• Coin counting

16. Better banking experience
creates satisfied
customer s
• How satisfied are you with your bank
Dissatisfaction by Bank
Santander 67.0% Barclay’s Bank 41.0%
HBOS 48.0% NatWest/RBS 38.0%
Lloyd’s TSB 41.0% HSBC 36.0%
• Metro Bank:
• Overall satisfaction rating 94%
• 84% would recommend to a friend

17. The Metro Bank Philosophy
Core Deposits Create Value
Customers Will Trade Lower Rates for a
Better RETAIL EXPERIENCE
Great Business Creates
FANS not Customers

18. The Commerce Bank Experience
B esl o ved
M o s t by it
r ehol ders
Sha and
u stom ers
C

19. A Growth Model
Millions
428 Average
$
Annual
Increase
Assets
+29%
Deposits
+30%
Loans
150
+28%
27
# of stores
Assets $1.0B $8.3B $45.3B
Market $24M $1.5B $8.5B
Capitalisation

20. Value of $10,000 Invested
in CBH in 1973
$4,742K
@ $38.14
0x
47
47x $1,956K
$956K
$10K $108K
$15.00 $1.27 $0.95 $0.65 $0.15
1973 1991 1997 2000 2007
Cost basis adjusted for splits and stock dividends

21. Metro Bank 10 Year Plan
Assets £M £256 £909 £4,402 £23,089
# of Stores 4 24 60 200

22. In conclusion
• Profit is a by
product
• Build store by store,
customer by
customer
• Look at the great
retailers
• Create fans not
customers

23. Anthony Thomson
Email: anthony.thomson@metrobank.plc.uk