In This Episode Regular listeners of Breaking Banks are likely familiar with the Killing It series, hosted by Jason Henrichs and Alex Johnson, where they explore candid stories of success, failure, and the pivotal and sometimes tough decisions that drive the journey from VCs to unicorns in the high stakes world of entrepreneurship. (If you’re not, check it out!) In this episode, Brett King shifts gears with a “Starting It” theme, sitting down with industry veteran Anthony Thomson —an entrepreneur, marketer, speaker, author, and founder of Metro Bank, Atom, and 86 400. Metro Bank challenged traditional banking in the UK, while Atom and 86 400 brought innovation as neo-banks in different markets, with 86 400 later acquired by NAB (National Australia Bank) and then merged into UBank. Join this enlightening discussion as Brett and Anthony dive into the unique missions and lessons behind each of these groundbreaking ventures. And who knows? You might even get a sneak peek at the next big breakthrough in the industry!  Read the entire transcript here. Podcast Content: Chapter 1: (00:00) - Introduction and Setting the Scene Brett King and Jason Henricks open the episode, reflecting on their history of exploring financial disruption. Special guest Anthony Thompson joins from Abu Dhabi, sharing memories of past debates on the future of banking. Chapter 2: (03:45) - The Genesis of Metro Bank Anthony recounts his journey from marketing in financial services to founding Metro Bank. The discussion highlights how Metro Bank disrupted traditional banking by focusing on customer-centric value and trust. Chapter 3: (12:30) - Cognitive vs. Associative Trust in Banking The hosts and guest delve into the dual dimensions of trust: competence versus intent. Anthony explains how Metro Bank leveraged customer-centric policies, like dog-friendly branches, to foster associative trust. Chapter 4: (20:15) - The Shift to Digital Banking Anthony reflects on the rise of digital banking, including his transition to founding Atom Bank. The conversation examines how mobile banking became the cornerstone of modern financial services. Chapter 5: (28:50) - Building Atom Bank The discussion explores Atom Bank’s founding principles, focusing on delivering a superior mobile experience and balancing liabilities with assets. Anthony contrasts Atom’s approach with competitors like Monzo and Starling. Chapter 6: (40:00) - Lessons Learned and 86 400 Anthony describes his move to Australia to establish 86 400. He shares how lessons from Atom influenced his strategy, particularly the importance of engagement and transaction accounts. Chapter 7: (51:30) - Challenges in Traditional Banking Transformation The conversation shifts to why traditional banks struggle with digital transformation. Anthony and Brett critique cultural and regulatory hurdles faced by legacy institutions. Chapter 8: (58:10) - The Role of Regulators in a Digital World Anthony discusses how regulators worldwide are adapting to digital banking innovations, emphasizing the importance of competition and better consumer outcomes. Chapter 9: (1:06:20) - Reflections and Future of Banking Anthony shares his hopes for the future of banking, emphasizing customer-centricity as the industry’s ultimate goal. Brett and Anthony speculate on the next breakthrough, pointing to adjacencies and AI in banking. Chapter 10: (1:12:50) - Closing Thoughts and Takeaways The hosts summarize the key themes of the episode, including trust, customer value, and the evolution of banking. They close with a call to action for listeners to engage with the podcast and its community. Related Content: Big And Small Preparing For Shifting Generational Expectations Episode 17: You can bank on it: trust and winning customers from incumbent banks Episode 550: Cease and Desist Build The Necessary And Useful ...