Michelle Prance has been appointed the new chief executive officer of NatWest’s Mettle, which is a free business bank account for self-employed individuals.
Prance, who joined NatWest Group in 2021, has previously worked at Credit Suisse, ABN AMRO, CMC Markets and Lloyds Banking Group.
Last year, Mettle launched its business bank account on the NatWest licence and can now offer customers a Financial Services Compensation Scheme-protected account, with features including an interest-bearing savings pot.
In her new role, Prance will be leading Mettle as it enters 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,” she said.
“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.”
Mettle has partnered with other NatWest services, such as FreeAgent and Payit by NatWest.
Customers of Mettle whose accounts are linked to FreeAgent, have access to FreeAgent’s tax calculation tool which offers a real-time view of how much tax they are likely to owe.
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.”