Research and Markets: Metro Bank Case Study: 'Love your bank at last'

Research and Markets (http://www.researchandmarkets.com/research/c5f8a3/metro_bank_case_st) has announced the addition of the "Metro Bank Case Study: 'Love your bank at last'" report to their offering.

Metro Bank has opened the doors of its first store in July 2010. It marks the first new entrant to UK high street banking in nearly 200 years and is heralded as having a fresh approach that better targets consumer needs. Whether it is truly a high street revolution or a novelty that will fail to catch the eye of the cynical UK consumer remains to be seen.

Scope

• Examines the key strengths of Metro Bank's strategy and why this approach may appeal to consumers
• Analyses the elements of Metro Bank's offering which align with The FS Megatrend and highlights points where Metro Banks may fail to appeal

Highlights of this title

Change is a powerful message, particularly when the status quo is not widely applauded. Metro Bank is attempting to make headway into the typically closed environment of the UK high street banking world. Metro Bank is endeavoring to redefine what a bank should mean to consumers.

According to The Financial Services Consumer Insight survey conducted in June 2010, shortly before the opening of Metro Bank's first store, convenience and personal recommendations are the key reasons for choice of current account provider.

Key reasons to purchase this title

• Gain insight into the methods used by important industry players to give them a competitive edge
• Identify the implications of changing consumer behaviours and priorities

Key Topics Covered:

• The Metro Bank model was pioneered by the bank's somewhat controversial founder, Vernon Hill who currently acts as Vice-Chairman
• Metro Bank are trying to offer a new alternative to the incumbent players
• The Metro Bank promise is a pledge for change
• Simplicity's attractiveness should not be underestimated
• Consumers' choice of current account is more complex than a desire for change
• Over the medium-term Metro Bank may find a core segment of disillusioned consumers to tap into
• Metro Bank is tapping into the Megatrend of Comfort by providing a friendlier face to banking.
• Convenience is a powerful message in banking, one that Metro Bank needs to communicate perfectly if they are to be successful
• 'Banking made easy' is an important facet of the Metro Bank offering
• Service-driven banking could tap into consumers' demands for authenticity if marketed effectively
• Metro Bank are betting on consumers looking past the rate of return to find the value in service
• Metro Bank's slow opening schedule could damage its progress; a strong start is crucial
• Metro Bank must reinforce their messages of security if they are to reassure the uncertain consumer
• Metro Bank may want to look fresh and innovative but, to some, it may lack the appearance of security
• Metro Bank may find its offering too easily replicated by the incumbent banks
• Incumbent banks are already gearing their offering to improved customer service

For more information visit http://www.researchandmarkets.com/research/c5f8a3/metro_bank_case_st

Source: Datamonitor