SummaryAnthony Thomson, the founder of Metro Bank and Atom Bank, discusses his journey in the fintech industry. He shares insights on the founding of Metro Bank, the importance of customer service and convenience, and the recruitment of the right team. He also talks about the marketing strategies and the role of word of mouth in building a customer base. Thomson then delves into the launch of Atom Bank, a mobile bank, and the data-driven decision-making process behind it. He concludes by discussing the transferable insights from Metro Bank to Atom Bank. In this conversation, Anthony Thomson discusses the importance of proximity in banking and the rise of mobile banking. He emphasizes the need for customer engagement and involvement in product design. Thomson also highlights the role of customer research and the CEO's involvement with customers. He stresses the importance of understanding customers' lives and building trust with them. Finally, he introduces Archie Growth, a company that supports early-stage fintechs.TakeawaysCustomer service, convenience, and value are key factors in the success of a bank.Recruiting the right team, with a focus on customer service, is crucial for building a customer-centric organization.Word of mouth and customer recommendations play a significant role in acquiring new customers.Data-driven decision-making is essential in identifying market trends and opportunities. Mobile banking allows customers to have proximity to their banks and conduct transactions seamlessly.Customer engagement is crucial for success in banking, and self-service options often lead to higher customer satisfaction.Involving customers in the product design process helps create a better user experience.Understanding customers' lives and building trust are essential for building successful businesses.Chapters00:00 Founding Metro Bank02:14 Differentiation and Customer Service03:35 Convenience and Extended Hours04:04 Recruiting the Right Team06:20 Marketing and Word of Mouth08:16 Product Service and Customer Satisfaction12:33 Launching Atom Bank16:25 Data-Driven Decision21:07 Success of Atom Bank23:03 Chairing 86 400 and Acquisition24:19 Transferable Insights from Metro Bank to Atom Bank24:20 The Proximity Argument25:22 Mobile Banking and Customer Satisfaction27:19 The Importance of Customer Engagement28:56 Involving Customers in Product Design29:25 The Role of Customer Research30:16 The Focus on Engagement31:09 The CEO's Involvement with Customers33:43 The Importance of Understanding Customers' Lives34:25 Non-Negotiable Skills for Founding Teams36:26 Building Trust with Customers38:48 Introducing Archie Growth46:53 Supporting Early-Stage Fintechs47:55 The Holy Grail of EntrepreneurshipProudly supported by Carta, Google Cloud, Fuelled and Seven Legal Hosted on Acast. See acast.com/privacy for more information.

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