How Equiniti supports
next-generation banking

The last decade has seen a wave of change in retail banking. In the post-recession recovery, next-generation banks have emerged to challenge the traditional banks’ dominance, encouraged by new technology and regulation.

Next-generation banks employ the latest tech and innovative business models, but they must still comply with regulations and make sure their operations are fit for purpose. They must successfully manage huge growth in many directions.

Not surprisingly, next-generation banks are looking for support from partners who understand this new world, while drawing on a huge depth of banking experience.

Our client, Metro Bank, was the UK’s first new high street bank in over 100 years. It opened its first “store” in central London in July 2010 and now has a network of more than 40 across London and in key commuter areas. By 30 June 2016, Metro had 780,000 customer accounts, had taken total deposits of £6.6 billion and had lent £4.6 billion. This rapid growth allowed the bank to list on the London Stock Exchange in March 2016, with a value of £1.6 billion.

We’ve worked with Metro Bank since 2014. Ahead of the IPO, we maintained its private share register and managed its employee and executive share plans, as the growing bank looked to attract and retain key staff. We then supported the next phase of its development, managing Metro Bank’s flotation on the London Stock Exchange, and now provide investor analytics and employee benefits services.

Photo courtesy of Metro Bank

Photo courtesy of Metro Bank

At the same time, next-generation banks face common issues. How do they make sure they stay within the rules? How do they improve customer service and get products to market ahead of their competitors using the right channel mix? How do they maximise emerging technologies? How do they check who they’re dealing with? How do they scale their systems, while keeping hackers at bay? And how do they tap the capital markets and cope with the demands of life as a public company?

Equiniti’s experts, and our comprehensive suite of services and products, can support next-generation banks throughout the development and growth of their business.

Metro Bank’s impressive rise follows a familiar path for new entrants in fast-growing financial services markets. In the start-up phase, they need to gain authorisation and build the critical infrastructure that underpins their businesses.

After launch, they have to consistently deliver great service to tempt customers away from traditional providers. And as they grow and mature, they need fresh capital and new platforms, so they can expand, diversify and operate efficiently.

Another product and service Equiniti provides Metro with is RiskFactor; market-leading risk management and fraud analytics software. This helps them to detect fraudulent client activity and mitigate potential losses.

It doesn’t end there, we have solutions to
help meet every challenge, from regulatory
compliance to biometric mobile authentication
and identity lifecycle management.

Regulatory Compliance

Challenges
• Strengthening governance, culture and treatment of customers
• Data Protection in line with new EU Regulations
• Data and regulatory reporting
Equiniti Solutions
• Assist with PRA/FCA authorisation
• End-to-end complaints management
• Data Protection (Search/Document Management)
• Deceased account remediation

Enhancing Customer Service Delivery

Challenges
• Customer acquisition through improved customer service and brand perception
• Increase market share
Equiniti Solutions
• Bereavement Services
• Back office and administration tasks
• Reconciliation
• Payments

Speed to Market

Challenges
• Cover new product launches and initial short term peaks in demand
• Innovation
Equiniti Solutions
• Specialist resource
• Surge events
• Scanning, print and mail
• Credit services
• Standby services

Identity Validation, Risk and Fraud Management

Challenges
· Achieve the highest standards of customer traceability to ensure that you meet your KYC, FATCA, AML, MiFID II, EMIR, identity verification and terrorism finance, PEP, Proof of Life or any other regulatory obligations.
Equiniti Solutions
· IDV and biometrics
· Equiniti KYC Solutions
· Risk Management Software
· Customer tracing

Scalable Platforms, IT Infrastructure and Cyber Security

Challenges
• Implementing future-proof systems and infrastructure that will scale and grow with your business
• Information security
Equiniti Solutions
• Scalable platforms, infrastructure and Cloud
• Cyber Security
• Robust and secure international payments

Managing the Journey from Authorisation to IPO and Beyond

Challenges
• Scale and growth
Equiniti Solutions
• FCA/PRA authorisation
• IPOs
• Employee Services

We help next-generation financial services organisations throughout their journey, from authorisation to IPO and beyond. Our solutions keep you one step ahead of regulation, enhance customer service, increase speed to market and manage risk and fraud.

Equiniti evolved from a bank, so banking is in our DNA. We pride ourselves on our regulatory insight and we're used to working in highly regulated, reconciled and quality managed environments.

We serve c70% of the FTSE 100, interact with 27 million shareholders and pensioners, directly manage 350,000 retail clients for our sharedealing services, and transacted over £90billion of payments in 2015.

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