Getting To Know You: Vernon Hill, Founder & Chairman, Metro Bank

Vernon Hill, metro bank

What do you currently do?

I am the founder and Chairman of Metro Bank, the first new retail bank in Britain in over 100-years. Our focus is on creating FANS and revolutionising British banking.

What was the inspiration behind your business?

We set up Metro Bank to revolutionise UK banking and bring the UK superior levels of customer service and convenience. The concept was based on Commerce Bank that I began in 1973 to challenge the established ways of banking in the US. Everything we did in the States we have brought to the UK, with even greater success! Britain’s incumbent banks have operated like a cartel for too long; overcharging and underserving retail and business customers. These banks have never faced real competition until we came along.

What defines your way of doing business?

We’re a real disruptor and I love to challenge. We are the revolution in British banking, offering real choice to consumers and businesses and creating FANS. Our goal is to build a legendary global brand by creating FANS who join us, remain loyal and bring their friends. To do this you need three key elements: a differentiated model, a pervasive culture and fanatical execution.

At Metro Bank, we are redefining retail and business banking, by providing an exceptional and seamless customer experience, however, whenever and wherever customers wish to bank with us. We are giving communities and businesses a real alternative and a reason to love their bank at last.

Who do you admire?

I have great admiration for Apple co-founder Steve Jobs. Like us at Metro Bank, he was determined to challenge the status quo and provide customers with a truly memorable experience. We are not just a ‘challenger’ bank, but like Apple, we are a true disruptor.

Looking back, is there anything you would have done differently?

That is a very British question. Everything happens for a reason and each setback taught me something new that could be applied to my next venture. Setbacks shouldn’t be dismissed; often they’re catalyst for something new and better. My only regret is not coming to the UK sooner! Metro Bank works in the UK even better than Commerce Bank in the US.

What advice would you give to someone starting out?

Create a value-added differentiated business model, with a unique and pervasive culture, delivering with fanatical execution to create FANS not customers.