Mettle

Mettle is Natwest’s first foray into digital-only banking, and a vital move for the bank as it faces intense competition from neobanks such as Tide and Revolut. Business customers have come to expect low fees, rapid customer support and a clean mobile interface, which Natwest and other traditional banks have struggled with in the past. Mettle has shown that Natwest can adapt and even outflank new market entrants: in contrast to its competitors its account has no fees.

Mettle’s approach has paid dividends, experiencing rapid growth since its public launch. Still in startup mode, it is aiming to capture market share and improve customer engagement. It is rapidly closing in on Tide and is hoping to become the bank of choice for Britain’s estimated 4.5 million small business owners, sole traders and gig economy workers.