SOURCE: Rackspace Hosting

Rackspace Hosting

December 13, 2016 12:42 ET

Metro Bank Speeds Up Critical Business Processes Using Rackspace Managed Cloud

First new high street bank in 100 years chose a Rackspace solution to support its rapid growth

LONDON, UNITED KINGDOM --(Marketwired - December 13, 2016) - Rackspace® today announced that Metro Bank, the first new UK high street bank in over 100 years, has reduced close-of-business processing time by 50 percent and report production time by two-thirds by moving its IT infrastructure to a Rackspace managed cloud solution.

Metro Bank was founded in 2010 and has already launched more than 45 stores, provides banking services for both personal and business customers. With ambitions to reach 100 stores by 2020, Metro Bank stands out from traditional financial organisations, with its highly customer-driven approach that includes services such as being open seven days a week and the capability to open an account in under 20 minutes -- without having to book an appointment.

Unlike its high street competitors, Metro Bank is not tied to legacy IT systems, which means it has the freedom to incorporate the latest technologies that offer unparalleled scalability and agility. This has enabled the business to disrupt the banking sector and break away from industry norms with its modern services that are focused entirely on providing high levels of customer service and convenience. These capabilities became a reality when seamlessly migrating Metro Bank's entire infrastructure, including its core banking operations, digital offerings and even ATMs, to a managed cloud solution architected by Rackspace.

Metro Bank chose Rackspace to help support its rapid growth, roll-out new services and streamline existing processes, starting with an initial 12-month migration project. This was delivered on time, on budget and without any costly downtime, with applications starting to go online within six weeks. The day after the first migration, close of business processing on core banking systems were 50 percent quicker and vital reports that were taking an hour to produce could now be completed in just 20 minutes.

Aisling Kane, Chief Operating Officer at Metro Bank, says: "We're growing exponentially so it's essential that we partner with organisations that can scale alongside us, which Rackspace has clearly shown it can."

Growing a customer-focused culture

Both businesses share the same customer focused culture and ethos of delivering exceptional customer service. Kane explains: "Rackspace just gets us - they understand our culture and share our values. You can't underestimate the power of people. They have exceeded our expectations, and provide us with superior levels of support and guidance day in, day out."

Darren Norfolk, MD of Rackspace UK, added: "We're proud to be supporting Metro Bank's impressive growth, and as an organisation with a customer service orientated culture ourselves, its mission to deliver truly outstanding experiences for customers. Metro Bank has used this approach to pose a serious challenge to the industry status quo during a period that has seen technology change the face of banking. These days, finance companies have to focus on connecting people to their money quickly, processing transactions accurately and presenting customers with access to their information at all times. We have enjoyed helping the bank achieve this, by providing the leading technology platforms that power these compelling customer offerings."

Metro Bank uses a Rackspace Dedicated Server Solution for its high performance and enhanced security. The company is also using DevOps to roll out new services quickly in a controlled environment as it moves towards automated management. The infrastructure includes DR (Disaster Recovery) capabilities.

About Rackspace

Rackspace, the #1 managed cloud company, helps businesses tap the power of cloud computing without the complexity and cost of managing it on their own. Rackspace engineers deliver specialized expertise, easy-to-use tools, and Fanatical Support® for leading technologies developed by AWS, Google, Microsoft, OpenStack, VMware and others. The company serves customers in 120 countries, including more than half of the FORTUNE 100. Rackspace was named a leader in the 2015 Gartner Magic Quadrant for Cloud-Enabled Managed Hosting, and has been honoured within the top 100 Great Places to Work for the past 12 years. Learn more at www.rackspace.co.uk.

Forward-Looking Statement

This press release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of Rackspace Hosting could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any statements concerning expected development, performance or operational results related to any particular customer or customers of our customers associated with our hosting solutions; any other statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include issues relating to the performance of a customer's configuration caused by forces outside of the control of Rackspace; changes in the economy, technological and competitive factors, regulatory factors, and other risks that are described in Rackspace Hosting's from 10-Q for the quarter ended September 30, 2016 filed with the SEC on November 9, 2016. Except as required by law, Rackspace Hosting assumes no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

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