According to the lender, the new service will take just 15 minutes from application, through to identification and verification checks and approval.
After a beta launch throughout August, Metro Bank has now made BAO publicly available for new business customers, who will be able to apply for a Bounce Back Loan subject to eligibility. This is the latest business banking innovation from Metro Bank as part of its commitment to the Capability and Innovation (C&I) Fund.
The online journey auto-populates business data from Companies House to save applicants time and uses selfie ID verification. Customers, who can receive their debit card in the post or collect in-store, will have access to a dedicated Local Business Manager, providing a personal level of support for their businesses as soon as they sign up.
David Thomasson, Chief Commercial Officer at Metro Bank, comments:
“Making our business bank accounts available online is a vital step as we cement our position as the UK’s best community bank, supporting more small businesses nationwide. We’ve got plenty more exciting product initiatives planned, both for personal customers and businesses, which we look forward to sharing in the coming months.”
