VTB Bank, Moscow Metro Testing Ride Payments Using Face Pay

PYMNTS

VTB and the Moscow Metro are rolling out a new program that allows metro riders to pay their fares using biometric data at all stations in October using the Face Pay system, which allows customers to travel with facial recognition technology and high processing volumes.

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Metro Bank Debuts On-The-Go Invoicing

PYMNTS

Metro Bank has rolled out new invoicing technology allowing business customers to create and manage invoices on the go via the bank’s mobile app, according to a press release. That service will be free for any Metro Bank Business Bank Account numbers.

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Metro Bank Hit By More Fraud Probes

PYMNTS

’s Metro Bank on behalf of investors concerned that the institution committed securities fraud. According to Pomerantz, the probe “concerns whether Metro Bank, and [certain officers] and/or directors, have engaged in securities fraud or other unlawful business practices.” Reports this week said revelations of the latest probes sent Metro Bank shares down by 10 percent. Two U.S. law firms have launched investigations into the U.K.’s

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RBS Fund Takes Back £50M From Metro Bank

PYMNTS

After Metro Bank recently pulled back from plans to expand and decided to move away from lending for mortgages, the bank said it will return £50 million from the RBS bailout fund, according to a report. Metro got the most money out of the total amount, receiving £120 million.

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Metro Bank Struggles To Find A Buyer

PYMNTS

challenger financial institution Metro Bank is struggling to find a buyer as potential suitors are turned off by the bank’s expensive business model, the Financial Times reported Friday (Dec. ’s M&A market and encourage investors to reconsider their interest in Metro Bank.

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Metro Joins Bacs For SMB Direct Debits

PYMNTS

challenger bank Metro Bank has joined the Pay.UK-operated operated Bacs and partnered with Boston payments firm Bottomline Technologies to enable direct debits for small to medium-sized businesses (SMBs), Metro announced on Wednesday (Feb.

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Metro Bank Plunges on Misclassified Assets, Capital Concern

Bank Innovation

Metro Bank Plc fell the most since going public after applying an incorrectly low-risk weighting to parts of its loan book, with the British lender’s chief saying he doesn’t know how long the mortgages in question had been wrongly classified. Bloomberg Daily Post 4 Exclusive Online Open Fintech Retail challenger bank Metro Bank neobank

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Metro Bank Pilots Corporate Expense Management Tech

PYMNTS

based Metro Bank has begun piloting a new corporate expense management solution in partnership with Canadian FinTech Sensibill , a press release said Wednesday (Dec. Metro Bank is building a suite of compelling tools that will help transform the small business banking experience in the U.K.,”

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Metro Bank Links With ezbob For Same-Day SMB Loans

PYMNTS

To provide a digital lending offering for small business clients, Metro Bank has collaborated with banking software provider ezbob. And, in 2019, Metro Bank received £120 million from the bail-out fund of RBS to bring additional competition into the small business banking market.

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Metro Bank Moves Away From Mortgages After Reporting Error

PYMNTS

After a reporting error that caused the exit of its chief executive and chairman in 2019, Metro Bank has announced that it is scaling back its expansion efforts and moving away from lending for mortgages, according to a report by the Financial Times.

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Metro Bank Announces New AI Powered PFM Service

Bank Innovation

Metro Bank today revealed the launch of a new AI- powered money management tool called Insights. Innovations Mobile PFM Retail Uncategorized Advice AI apps banking fintech Metro Bank Personetics PFM appsThe tool will continuously monitor users’ transactions in real-time to better understand clients’ spending habits. Insights will then turn the information into tips and advice for their customers, including instructions on avoiding unnecessary charges.

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UK Metro Bank Hit By Messaging Scams

PYMNTS

To that end, Metro Bank said earlier this week that at least some of its customers had been victimized by fraud that focuses on text messages sent across telecom companies’ networks that Reuters reported are used to verify transactions. Metro said that the attacks are leveled at a number of British banks, a roster that includes Metro. “Of B2B Payments B2B Editors' Picks email scams fraud Metro Bank News

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Metro Bank Explores Additional Use for AI-Driven PFM Tool, Insights

Bank Innovation

challenger bank Metro Bank could extend its AI-driven money management tool Insights, designed for its retail side, to its business customers. Formed in partnership with Israeli AI company Personetics, Metro Bank is currently preparing to roll out Insights in beta over the summer. Exclusive Innovations Mobile Online Open Fintech Operations Payments PFM Premium artificial intelligence Loot Metro Bank Personetics RBC Royal Bank of Canada Tandem Bank

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Metro Bank Pulls Back On Commercial Lending

PYMNTS

challenger bank Metro Bank, the financial institution is reportedly looking to reduce its corporate loan exposure and wind down commercial lending operations. 15) said Metro Bank would no longer charge early termination fees for corporate borrowers that repay their loans ahead of schedule; a move meant to be part of its broader plans to pull away from corporate lending. Metro will look to instead focus on residential property financing as it seeks a new chairman.

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Metro Bank Introduces Cash Delivery Service For SMBs

PYMNTS

Metro Bank has launched an app called MCash for small- and medium-sized businesses (SMBs) to pick up and drop off cash as needed, according to reports on Monday (Dec. What's Hot app B2B B2B Payments Cash Delivery FinTech MCash Metro Bank News SMB banking What's Hot In B2B

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Metro Bank Founder Fully Resigns Amid Accounting Scandal

PYMNTS

The ongoing fallout from an accounting error at Metro Bank will now see Founder Vernon Hill completely exit the group after previously announcing he would remain on the board. “Vernon is the inspiration behind Metro Bank , the first high street bank to open in the U.K. ” One of Metro’s existing independent directors will be appointed chairman if the bank is unable to find a suitable candidate by Dec.

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FCA Questions Metro Bank Managers On Misreporting Scandal

PYMNTS

Metro Bank senior managers are being grilled by the U.K. Metro Bank is also being investigated by the Bank of England’s Prudential Regulation Authority and is ready to issue loss-absorbing debt as required of large banks. . Regulators are also looking over Metro Bank’s regulatory reporting and governance for compliance. . “As We welcome the progress being made and look forward to this investigation reaching its conclusion,” Metro Bank told the newspaper.

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Alibaba Bids For Metro Brick-And-Mortar Stores In China

PYMNTS

14) when an exclusive report from Reuters said that Alibaba wants to buy a stake in the Chinese wholesale operations of Germany-based Metro AG. The report noted that “Metro and Alibaba have already partnered in online retail in China,” and that Metro “has been restructuring in recent years to focus on its core cash-and-carry business, selling Kaufhof department stores [and splitting] from consumer electronics group Ceconomy.”.

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Metro’s Accounting Errors Cost Bank Top Clients

PYMNTS

Some of Metro Bank’s largest customers left the institution following revelations of accounting mistakes, according to Wednesday (May 1) reports in the Financial Times. Earlier this year, the Bank of England discovered the misclassification of a significant number of commercial loans within Metro Bank, leading to a 54 percent drop in share price and calls for the resignation of top executives, including Donaldson.

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Metro Bank Chairman Steps Down After Q3 Losses

PYMNTS

Metro Bank Co-founder and Chairman Vernon Hill stepped down as chairman on Wednesday (Oct. Earlier this year, Metro Bank revealed an accounting error that kicked off a rocky year, and led some of its top clients to leave the bank. Metro’s stock has fallen nearly 90 percent over the course of this year. Metro Bank did, however, carry out the deal the following week after offering a higher interest rate.

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LA Metro Vendor Dispute Highlights Public Contract Challenges

PYMNTS

Metro) is embroiled in a dispute with bus maker New Flyer of America. Metro to tie procurement to job commitments by awarding contracts based on vendors that could meet those requirements for salary and job creation. Metro first did so with a 2012 rail car contract, reports said. Metro. Metro declined to comment, reports said. Metro News procurement suppliers transportation What's Hot In B2B

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Metro Fails To Attract Investors To Bond Issue

PYMNTS

Metro Bank in the U.K. Metro Bank PLC thanks the broad number of investors who have met with the company and shown interest in their potential inaugural MREL issuance,” the bank said. Given the current market conditions though Metro have elected to not proceed with a transaction at this time.”. This is not a good outcome for Metro Bank,” he said. Banking bond issue Brexit investors Metro Bank News U.K. jettisoned a $250 million pound bond issue on Monday (Sept.

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Washington’s Metro System Plans For Mobile Payment Future

PYMNTS

Mobile fare payment is the future of transit, giving customers the ability simply to tap their phone and go, all without stopping at a fare vending machine or using a separate card,” Metro General Manager Paul J. Mobile Payments mobile app News Payment platforms Transit Payments Washington Metro What's HotTo enable mobile payments, the Washington Metropolitan Area Transit Authority (WMATA) is working with its fare payment vendor to upgrade its payment capabilities.

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UK’s Metro Bank Attacked By Cyber Fraud

PYMNTS

Metro Bank, a British financial institution launched in 2010, said it was targeted by cybercriminals in a scheme where a vulnerability in text messaging between the bank and customers was used as an attack, according to a report by Reuters. Of those customers impacted by this type of fraud, an extremely small number have been Metro Bank customers and none have been left out of pocket as a result,” a bank spokesperson said.

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Metro Cash And Carry Launches App To Help India Shops Digitize

PYMNTS

The Indian arm of German retailer Metro Cash and Carry has announced the launch of an app for kirana stores, allowing retailers to order stock, keep a check on inventory, and facilitate payments directly from their smartphones. Digital Shop, which was co-created with FinTech ePayLater, will allow kirana owners to track their daily and monthly sales, manage their inventory, place orders with Metro, offer digital payment options to customers and more, according to Live Mint.

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libaba Bids for Metro Brick-and-Mortar Stores in China

PYMNTS

14) when an exclusive report from Reuters said that Alibaba wants to buy a stake in Germany-based Metro AG’s wholesale operations in China. The report noted that “Metro and Alibaba have already partnered in online retail in China,” and that Metro “has been restructuring in recent years to focus on its core cash-and-carry business, selling Kaufhof department stores and then splitting from consumer electronics group Ceconomy.”.

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Metro Bank office staff can work from home until after flu season

TheGuardian

Metro Bank Working from home Banking Business Coronavirus outbreak UK news Flu

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Can you ride the Metro to the Challenger Bank future?

Daily Fintech

Metro Bank does not fit any obvious category. If you believe that challenger banks can beat the incumbents and you don’t want to start a challenger bank (it is very hard work) or invest in a startup challenger bank (you may be a bit late to that party), you might take a look at Metro Bank. The question is, if you believe that challenger banks will own the future, can you ride the Metro Bank to that future? In simple terms, should you buy Metro Bank stock?

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"Investors will forgive" Metro Bank

Bobsguide

Metro bank’s full year results were hotly anticipated by investors and the industry alike following early scares brought on by an accounting error. The results, published on February 26, came nearly a month after the challenger’s share price plummeted by as much as 40%. The results

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InComm, LA Metro expand network for contactless transit card sales

Payments Source

InComm has partnered with the Los Angeles County Metropolitan Transportation Authority (Metro) to more than quadruple the number of retail locations at which customers can purchase and reload its contactless TAP transit fare cards. Contactless payments Prepaid cards

Metro Phoenix Bank (AZ) Offers Competitive 60-Month CD Special

BankDeals

Metro Phoenix Bank (AZ) has raised the rate on its 60-month CD Special by 25 bps. Minimum opening deposit is $5k of new money. Also as an IRA CD Special

London's Metro Bank Adds AI-Driven Advice

Tom Groenfeldt

London's Metro Bank has developed an advice engine with Personetics to help users manage their money better by getting to know their earning and spending patterns

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Singtel Adds Payment Options To Dash; Metro Bank Upgrades Mobile App

PYMNTS

In addition, PUC Berhad is teaming up with Revenue Group Berhad for online-to-offline (O2O) payments in Malaysia , and the United Kingdom’s Metro Bank is upgrading its mobile app to bring mobile payments to over 38 nations. And Metro Bank, which is based in the United Kingdom , updated its mobile app to allow for international payments to over 38 nations, Compleo reported. Welcome to The Axis, your late look at payments news from around the world.

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Taking Real-Time Payment Rails To The Tipping Point

PYMNTS

The Metropolitan Transportation Authority (MTA) in New York City has announced plans to implement its One Metro New York (OMNY) system into subway systems in the Bronx, which will enable users to use contactless and digital payments to pay for their fares.

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Amazon Expands Amazon Home Services To Twenty New Metro Areas

PYMNTS

The service availability has also increased to include 50 metro areas around the country. Amazon announced Monday (Nov. 14) it has expanded its Amazon Home Services into 20 new metropolitan markets around the country. In a press release , the eCommerce giant said the new cities include Indianapolis, IN; Las Vegas, NV; San Antonio, TX; Ann Arbor, MI; Cleveland, OH; Milwaukee, WI; Boulder, CO; Raleigh, NC; Trenton, NJ; and more.

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