Mettle - New RBS Digital Challenger


(Don't Bullshirt Me, I know what the Fork is going on here!) #1

I’ve read the same article about RBS but something I didn’t see in the RBS article was this

Mettle is currently at pilot stage, and customers who open an account will work closely with the Mettle team to influence how the product will develop, says Alison Rose, chief executive of commercial and private banking at NatWest.

I’m pretty sure both Monzo and Starling said something similar when they launched.

I wonder if they’ll have a community :joy::joy::joy:


(Don't Bullshirt Me, I know what the Fork is going on here!) #2

Looks like they have a website

Weirdly it seems to be prepaid and run in wirecard solutions as opposed to being run by the bank


#3

It’s PrePay Solutions not Wirecard that provide the backend. PPS are probably the market leader in White Label Card solutions, so its a logical step for the bank.

I assume they will have some sort of platform arrangement with PPS, who are also planning a Banking Licence themselves to offer current accounts, not just Pre Pay accounts.


(Neil) #4

Interesting that you have to dig a fair way down their FAQ page at https://intercom.help/MettleFAQs/frequently-asked-questions to find out that they are not FSCS protected and are actually an e-money account.


(l8n.me) #5

I honestly don’t know what’s going on with this, at this point it seems a complete waste of time, which is not to say of course that someone the size of RBS can’t quickly grow it into a huge success, and they may well do that, but I’m completely confused why 11:FS made a huge deal at launch that it’s their baby. All everyone interested in fintech who knows them and their brand did was go rush over, have a look and think “what is this sh!t?” and move on until it becomes something that seems actually viable. RBS may be doing a very limited test at this point but at the end of the day their reputation (good and bad) precedes them, as a small company, and one who critiques the fintech world via the Fintech Insider part of the business, I certainly wouldn’t want my name attached at this point when it’s basically just a half assed emoney account running on PPS, I’d save it till I had something to shout from the rooftops about then tell everyone that I was an integral part.


(Neil) #6

The other thing I meant to mention was that I’m surprised they’re currently only launching on iOs and not Android.


(Tom) #7

I signed up for this purely to be nosey. Card arrived yesterday, in an origami-syle credit card holder/wallet, which was kinda fun. Nothing else in the envelope though, Dozens are the winners on that score! The app is very bare-bones at the moment, but will keep an eye on it and see where it goes.


#8

What does the card look like?

Remind me… is the a consumer or business account?


(Don't Bullshirt Me, I know what the Fork is going on here!) #9

It’s the new small business challenger from Natwest I think


(Tom) #10

It’s business, similar idea to Coconut (send invoices etc, do everything in-app).

Card is pale yellow, with all the numbers on the back. Looks pretty smart. Will take a photo when I get home :+1:


(Tom) #11

Pics of the card, finally!


#12

Is anyone in possession of one of the new mastercard logo cards? The ones without the text (as they’re trying to expand their brand)

Also how is Mettle? :eyes:


(Don't Bullshirt Me, I know what the Fork is going on here!) #13

Did you get two cards or can you only see Alpha Member at certain angles?


(Tom) #14

No, just the one card. The Alpha Member text is only visible at certain angles (I missed it at first when I opened the card!). I just found I couldn’t get one photo to show the text and the true colour of the card :+1:


(Tom) #15

I’ll keep an eye on it, but honestly, it’s very simplistic at the moment. I think the problem they’ll have (and anyone opening a new business account) is that people are going to want it to be a fully realised product before switching. It’s not like you could just set it up as a spendings card the way I might N26 or Revolut.