Metro Bank launches new Business Account Online journey for SMEs

By Megha Bhattacharya

Metro Bank announced today that it has launched a new Business Account Online (BAO) journey for SME customers. The new development is expected to enable new customers to open a business account on their mobile or online coupled with identification, verification checks, and approval.

David Thomasson, Chief Commercial Officer at Metro Bank, commented, “Making our business bank accounts available online is a vital step as we cement our position as the UK’s best community bank, supporting more small businesses nationwide. We’ve got plenty more exciting product initiatives planned, both for personal customers and businesses, which we look forward to sharing in the coming months.”

The Bank has now made BAO publicly available for new business customers, who are able to apply for a Bounce Back Loan. The online journey auto-populates business data from Companies House to save applicants time and uses selfie ID verification. Customers, who can receive their debit card in the post or collect in-store, will have access to a dedicated Local Business Manager, providing a personal level of support for their businesses as soon as they sign up.

Metro Bank’s BAO is expected to provide SMEs with a single source of support in their financial management. The Bank recently launched a new receipt management technology that empowers SMEs to capture, store, and link their receipts to transactions in their mobile business app using AI-powered technology.

Recently, Metro Bank and Clear Books launched a new partnership for providing accounting software with free bank feeds and discounts to the Bank’s SMB customers.