Mettle announces new CEO, Michelle Prance to drive next phase of growth
Mettle, the free business bank account built for the self-employed by NatWest, has appointed Michelle Prance as its new CEO. Michelle brings a wealth of experience and expertise to Mettle, having worked across retail, commercial and investment banking customer businesses in a variety of product, innovation and strategy roles.
Michelle previously worked at Credit Suisse, ABN AMRO, CMC Markets and Lloyds Banking Group. She joined NatWest Group in 2021.
Michelle joins Mettle at a pivotal stage in its growth and her experience will be instrumental in helping Mettle to continue to offer simple and effective banking experiences tailor-made to the self-employed community. In 2023 Mettle launched its business bank account on the NatWest licence. It can now offer customers an FSCS-protected account with a host of new features, like an interest-bearing savings pot which launched in November 2023.
Since launching interest-bearing savings pots, thousands of Mettle customers have taken advantage of them and invested their money. They have also benefited from automated rules that allow them to effortlessly save, having set aside more than £100m to date.
Mettle has also partnered with other NatWest services, such as FreeAgent and Payit, to bring new features to Mettle customers. The FreeAgent tax calculation, which is available to all Mettle customers whose accounts are connected with FreeAgent1, takes the guesswork out of how much tax they are likely to owe by showing them a real-time view directly in their Mettle app. Additionally, Mettle’s partnership with Payit has led to the average customer funding their account five days faster, making it quicker for customers to get started with their new account.
Michelle Prance, CEO of Mettle, comments: “I am excited to be leading Mettle during the next phase of its growth. The self-employed have traditionally been underserved by banks, making it difficult for them to get set up quickly, get paid and be tax ready. By offering new features such as tax calculation and saving pots, Mettle has shown that banking doesn’t need to be complex. 2024 is set to be an exciting year for Mettle, as we continue to help growing businesses better manage their finances and get ahead.”
James Holian, head of business banking at NatWest Group, added: “I am thrilled that Michelle is now taking up the helm at Mettle. She brings a wealth of experience and expertise to the role, having worked in product, innovation and strategy roles within the banking sector. With this background, Michelle is perfectly positioned to continue Mettle’s journey, helping to meet the evolving needs of the self-employed community.”
