The APPG for Challenger Banks and Building Societies is delighted to announce that Metro Bank is the latest challenger bank to join us as an Associate Member. The APPG is a cross-party group of MPs and Peers that seeks to inform parliamentarians about challenger banks and building societies, the issues and challenges facing them, and to promote competition and diversity within the banking sector.
Metro Bank first opened its doors in the summer of 2010 and aspires to disrupt retail banking by building a bank that puts customers at the heart of everything it does. Its ambition is to become the UK’s best community bank – a bank that is deeply rooted within local communities, serving customers brilliantly in person, digitally and via phone.
As the APPG’s latest Associate Member, Metro Bank will be supporting the APPG’s new inquiry into the role of Challenger Banks and Building Societies into Levelling Up. They will also be playing a full role in other strands of the APPG’s research, events, and publication and contributing to our future work programme which will be announced shortly.
Commenting on the decision of Metro Bank to become an Associate Member APPG Chair Rt Hon Karen Bradley MP commented: “I’m thrilled that Metro Bank is joining the APPG as an Associate Member and greatly look forward to working with them and all our Associate Members on the upcoming Levelling Up inquiry and on future projects.
Metro Bank is one of the most recognised Challenger Banks in the UK and has proved to be a real disruptor to the high street banking oligopoly everywhere it has opened a branch. Metro Bank’s support and their contributions to the future work of the group will be a huge asset to us and I know all our members will be as delighted as I am to have the opportunity to work with them.”
Daniel Frumkin, CEO at Metro Bank added: “Metro Bank is the UK’s original challenger bank – the first high street bank to be established in over 100 years, marking a new dawn for innovation and competition in financial services – and our ambitions remain as strong as ever to shake-up banking by delivering something fresh and better to customers and communities across the country.
The UK can unlock huge economic benefits by removing barriers to the growth of challengers like Metro Bank, and we’re delighted to partner with the APPG for Challenger Banks and Building Societies on this important agenda.”