The curse of being first

Being first to do something does have its drawbacks. Martins themselves would surely have acknowledged that having been first to use a computer soon left them lagging behind, as the other banks also explored possibilities and faster, more capable computers and equipment become available. This problem affects many banks well into the 1990s - fitting out an entire branch network with computer equipment that very quickly goes out of date, is hugely expensive – consequently the shabby looking computer terminals you might have seen in YOUR bank look like that because they are being used way beyond their expected shelf life. Repair companies make a fortune by trying to keep these systems running, and despite advances in computer software, programs still need to be written in a way that the older equipment can still understand. How Martins actually achieves a first with computers is a fascinating story, and we are grateful to our colleague Peter Hayes who actually worked on Pegasus, the computer shown above – for telling us about it. Martins’ tradition of being first with things is spoiled on home territory, when another bank dares to open the coutry’s first drive-in branch in Liverpool itself. Those in charge at Martins are beside themselves with rage, and determined not only to open a better one, but to immediately be first in banking to introduce something else – in fact ANYTHING else, it doesn’t really matter what. A board meeting is held and someone suggests computers – the fight back begins, and results in the arrival of Pegasus. The winged horse is, however, not it all it is cracked up to be, and you can read more about this, and Peter Hayes’ involvement with the computer on our PEGASUS II page…

Racing to be first

Barclays and Martins are neck and neck in the race to bring us the world’s first cash machine. That the race is won by Barclays, five months ahead of its rival is still seen as a “cup half full” situation by Martins, who proudly promote their machine as the first cash machine in the north of England. Despite the two banks using different manufacturers, the workings of the two machines are surprisingly similar – a customer is issued with a stock of plastic cards and a code number. Used together, these will unlock a drawer providing access to a small pack containing ten one pound notes. Perhaps a clumsy system compared to what we have to day, but nevertheless it was groundbreaking for the time it was introduced. We will have to wait at least another twenty years for anything that will resemble a more electronic system, from any of the banks… Barclays’ later attempts produce a credible ATM that is a cross between a one armed bandit and a cash machine, where customers’ instructions appear behind a window courtesy of a large roller that spins backwards or forwards to the relevant passage of text. Sometimes the roller gets stuck or only reveals part of the instructions through the window. Happy days!

First with innovation

This is one of Martins’ most successful (and certainly most well publicised) “almost firsts”. It is also one that really hasn’t been seen much since. Despite our willingness to queue in our cars for ages at any number of twenty-first century cardboard fast food outlets, we don’t seem to need the novelty and excitement that captured first Leicester, and later Epsom – using a large, purpose built Drive-In Bank. Certainly much more than an experiment, banking with Martins by car is a popular thing to do over the ten year period 1959-1969, and thanks to Barclays, it lasts well into the 1980s…

First Service

In the north of England, Martins branches can not only be found in practically every town, but also in a number of RAF stations and cattle markets. Taking banking to the workplace is a popular move, and leads to the building of a permanent branch at the Great Yorkshire Show Ground. Around the country, Martins serves the workers at Aylesford Paper Mills near Maidstone, and at many other locations including an abattoir in Liverpool, industrial estates, hospitals, a colliery, a corn exchange, ICI Wilton Works, railway stations, and of course several universities. The Bank also enjoys many prime sites in well to do parts of London. None, however, is a more prestigious, or perhaps strange choice for a branch location than the Centre Court at Wimbledon – a top prize indeed for any bank. You can read more about some of our more unusual locations in our feature ONE BANK – MANY FACES .

First to make a splash

Until the advent of the 1960s teenager with surplus cash to spend, Martins’ advertising is distinctly - yet beautifully - plain. In keeping with the Bank’s tradition of commissioning fine artists, the copy from the 1940s and 1950s consists mainly of grey images, usually sketch drawings of British towns, cities and landmarks. The idea is that people will associate the Bank with the fine traditions of the places where it trades, and is also a throwback to the times of the many small local banks that eventually came together to form Martins itself. Almost overnight, the Harold Wilson generation causes a major rethink of the Bank’s advertising policy, and with it, another first – stylish ads, evocative of the moment, each with a clear message – the CUSTOMER is king, in control of his or her own finances, and there is no better bank than Martins to help them achieve what they wanted in life. Sheer genius.

First outside London

Opulence, decadence, and defiance of a financial system that automatically assumes London-centric is the way to go, Martins has these qualities in abudance, and demonstrates them to the full in the construction of what is still the most lavish and ostentatious bank building ever seen in this country. To top it all, Martins’ wonderful and breathtaking Head Office at 4 Water Street Liverpool, couldn’t be further away from London, the traditional centre of British Banking. Although Martins has splendid and large premises at 68 Lombard Street London, the building is always known as London District Office, and nothing more.

First to boldly go…

Here’s an idea that’s come round again, taking the bank to the customer – “another way” to bank – “now there’s a thought…” Today’s mobile banks, converted from those smaller town and city buses, bear little resemblance to their 1948 counterparts, but still fulfil more or less the same role. Today however, there is also the sheer cheek of expecting customer loyalty from those whose permanent branch you took away in the first place! The modern vehicles seem to lack the charm of the originals, which in Martins’ day have to be towed by land rovers, and evoke the nostalgic suggestion of a weekend’s caravanning in Snowdonia…

First to feel the crunch?

There have been a number of theories as to why Martins, at the height of its success, merges with Barclays. It could well have been that very success, that has become a heavy weight around the Bank’s neck: Servicing the lending requirements of such major customers as a pools company, an airline and a world renowned shipping line, often sends Martins to other banks to borrow money – a compelling argument, perhaps, for a merger...

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