Banking

Recognise Bank: Best Digital SME Lending Bank UK 2023

Recognise Bank challenges the status quo with a tech-enabled offering of flexible financing and competitive savings solutions. The bank’s entrepreneurial founders understand the needs of modern SMEs — needs that are often left wanting by the outdated tech infrastructure of traditional business banking. Recognise Bank markets itself as an agile and responsive alternative to big-bank dominated SME lending. It deploys proactive professionals to drive momentum and ensure the customer remains central across all decision-making processes. Recognise Bank offers business financing products, such as commercial mortgages, bridging loans and professional buy-to-let loans. It provides savings accounts for businesses and individuals, featuring competitive rates and reassuring guarantees. Client funds are FSCS-protected up to £85,000. In April 2023, the bank increased the annual equivalent rate by 0.25 percent across all business and personal savings variable products. As of February 2023, Recognise Bank reported £200m in deposits and £115m in loans. It recently announced new strategic partnerships expected to shorten valuation turnaround times, enhance broker confidence and deliver a more personalised banking experience. Recognise Bank has ambitious growth plans following a £25m capital injection this March, bringing the total raised over the past five years to £95m in funding. The latest infusion of cash will cover more loans — which typically run between £500,000 to £5m — and fuel the development of asset finance products slated for launch later this year. The CFI.co judging panel presents Recognise Bank with the 2023 award for Best Digital SME Lending Bank (UK).

marten

Recent Posts

KBC Group: Best European Bank 2024

KBC Group continues to lead the European banking sector through its innovative bank-insurance model, delivering…

2 weeks ago

Ghana Stock Exchange: Best Stock Exchange for Economic Growth West Africa 2024

The Ghana Stock Exchange (GSE) has consistently demonstrated a commitment to driving economic growth and…

4 weeks ago

Nordea Asset Management: Best ESG Team Europe 2024

Nordea Asset Management (NAM) has championed responsible investment for over three decades, beginning in 1988…

1 month ago

SegurCaixa Adeslas: Best Insurer Spain 2024

SegurCaixa Adeslas, a pre-eminent Spanish health insurance company, has demonstrated a formidable and truly impressive…

2 months ago

Banco BPI: Excellence in Sustainable Banking Initiative Portugal 2024

Banco BPI's dedication to sustainability is a beacon of proactive environmental and social responsibility. Beyond…

2 months ago

BSE Ltd: Champions of Capital Market Innovation and Efficiency Asia 2024

BSE Ltd, formerly known as the Bombay Stock Exchange, is a crucial player in India’s…

3 months ago