Retail banking company Metro Bank (LON:MTRO) announced that it has added to its mobile application international payments for both its personal and business clients.
Metro Bank’s mobile app uses Artificial Intelligence (AI) to generate tailored alerts and tips, thus enabling customers to get insights on their personal and business accounts and manage their funds more effectively.
David Sosna, Co-founder and CEO at Personetics, commented:
Innovative banks such as Metro Bank bring a fresh breath of air to high street banking and beyond, leveraging the power of AI to simplify everyday banking and put customers in control of their financial lives. Metro Bank’s Insights delivers immediate value to customers and provides an important step towards a future of self-driving finance that positions the bank as a trusted advisor to the customer.
Metro Bank’s clients can now make same day SWIFT and next day SEPA (Single Euro Payments Area) payments in various currencies ranging from Euro, USD to GBP.
To create a new payment, clients can either enter the recipient’s IBAN to automatically produce the SWIFT BIC Code or input their respective account number. The new four-step process further allows customers to choose whether they or the respective payee covers the charges of the transaction.
We’re always looking for new ways to make our customers’ lives easier. Whether you want to send money to your loved ones back home or pay an overseas supplier, you can now do it with a simple tap of the app.”, commented Paul Riseborough, CCO at Metro Bank.
Artificial Intelligence is key to enabling enhanced customer experience and is has served as an innovation driver for many financial institutions. Metro Bank are expected to release new functionalities for its app in the upcoming 2019.