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The founder of Metro Bank thinks app-only banks are ‘all hype’





LONDON — The founder and chairman of UK challenger bank Metro Bank has dismissed the boom in digital-only banks in Britain as “all hype.”

Vernon Hill told Business Insider in an interview: “That’s all hype. There has never been an online-only bank that has succeeded in America or Britain. Maybe there’s one coming, but we haven’t seen one yet.

“Look at it this way, we passed 6 years, we just started making money, and our market cap is £2.6 billion. We’ve created a total growth machine. These people are selling you ‘solutions’, not banking.”

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Source:: BusinessInsider.Com

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