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Wednesday, October 23, 2019

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Metro Bank launches AI-led tool for business customers

Sam Monk | 12:30 Tuesday 8th October 2019

Metro Bank has launched an artificial intelligence-led, in-app account insights tool for business customers.

By using Business Insights, companies will be able to make more data-driven decisions, in addition to managing their cash flow and forthcoming payment obligations better.

Insights include end-of-month cash flow analysis, notifications of when the latest payments to service providers are higher or lower than normal as well as for upcoming scheduled payments.

“Life is busy at the best of times, especially if you’re running your own business,” said Paul Riseborough, chief commercial officer at Metro Bank.

“That’s why at Metro Bank we’re setting out to build a range of game-changing digital capabilities to help SMEs thrive.

“Business Insights marks the start of our journey to deliver the capability and innovation programme, and we’re well on our way to delivering more digital innovations to SMEs up and down the country.”

David Sosna, co-founder and CEO at Personetics, added: “Small businesses need help managing their finances, a need that is only continuing to grow with the explosion of the gig economy.

“Banks such as Metro Bank that step up to the plate by delivering proactive and easy-to-access insight and advice will position themselves as the providers of choice for these small businesses.”

The tool launches with more than 25 business insights for customers and built-in, self-learning capabilities based on AI technology.

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