Metro Bank- the nicest bank in the world!

It’s taken too long to post but here’s my quick write up from the Business Culture Awards last year. My favourite part was Danielle Harmer, Chief People Officer at Metro Bank sharing their secrets behind an award-winning culture that to be honest, barely sounds like a bank at all.

What makes Metro Bank different?

1.      Opening Times

Despite many banks claiming to be ‘customer focused’, Metro Bank really have put the customer at the centre of all decisions. Recognising a typical working day, they’re open from 8am til 8pm Monday to Friday, 8 til 6 Saturday and 11 til 5 Sunday. Danielle said they agree with the philosophy that ‘if you build it, they will come’.

2.      Dogs allowed

The message is simple on this one; ‘We love you so much that we love your dog too!’ so canine companions are welcome.

3.      Cards printed in store

Being an eco warrior, this is one of my favourites. Bank cards can be printed in store which has saved customers 4 million days waiting for post and think of all the paper saved and reduced carbon emissions from delivering post! This is all part of their value to ‘surprise and delight’ customers.

4.      Magic Coin Machines

Unlike other high street banks where customers have to collect predefined amounts of the same coin and put them into grubby mini plastic bags, Metro Bank are proud of their magic coin machines that attract people from near and far to empty their change jars and walk away with notes. This service is not just for Metro Bank customers and they’ve found that once a non-customer has used the service 2 or 3 times, they open a Metro Bank account.

5.      Customer Parking

Whilst most banks have Staff Only parking or none at all, Metro Bank offer Customer Parking (particularly popular with taxi drivers who work around the clock shifts and still deposit cash).

The role of systems and processes

Danielle’s three-pronged step to creating an award-winning culture utilises modern systems and processes to underpin metrics that measure the right behaviours.

1.      Implementing systems and processes that drive the right behaviours

A good example is the Reward process which has been entirely restructured.

Variable pay in Financial Services has received heavy criticism for encouraging behaviour that is not necessarily in the interest of the customer. So at Metro Bank, bonuses are based on customer-centric behaviour and team performance (rather than individual targets to make the bank as much money as possible). This encourages collaboration and demonstration of company values.

2.      Leadership who demonstrate and endorse behaviours and set the culture

A great example is most complaints go straight to the CEO Craig for him to deal with directly (not that there are many!).

3.      Defining customer outcomes and measuring how culture delivers these

Metro Bank refer to their branches as stores because they focus on creating something closer to a retail experience than walking into a bank – although sadly there are no shoes and clothes to be purchased… Their metrics include a whole load of customer-focused measures to compliment the traditional Financial ones.

Key takeaways

So what do I think we can we learn from Metro Bank?

1.      Think outside of your industry.

Our Financial Services HR & Compliance network (which Metro Bank have hosted and spoken at) brings together over 300 banks, asset managers and insurers to promote a consistent approach to regulation. However, if your strategy is to ‘surprise and delight’ your customers, look to other inspiring companies and industries as role models.

2.      Reward the right things.

Sounds obvious right?

But many businesses are still paying people to be visible at their desks, or hit financial targets, or sell new products and services. Don’t be afraid to change your reward and recognition process to encourage more desirable behaviours.

3.      Let dogs in! 

For more information on any of the above or if you fancy meeting for coffee, email me at [email protected]