Recognise Bank

Recognise Bank hits £100m lending milestone

Recognise Bank has delivered over £100m in lending to UK SMEs, six months after obtaining its full banking licence.

The bank has also amassed almost £95m in deposits from saving customers, after launching its personal savings range in September 2021.

Currently, Recognise Bank is finalising plans to create a new innovation hub that will leverage the bank’s existing technology platform and insight from working with growing businesses. 

Later in April, the bank will also enter the business savings market, with the aim of helping SMEs maximise the interest income potential of their cash surpluses.

Bryce Glover, CEO at Recognise Bank, said: “Not only is this a huge lending milestone for Recognise Bank, it is also absolute proof that our digitally-enabled, relationship banking model works. 

“Through our lending we have supported a wide range of growing firms — whether it’s to acquire their own business premises or to help fund a green housing development —which otherwise would have struggled to find a bank that understood their needs and was willing to lend to them.

“Our next chapter is to continue helping UK SMEs, who are the lifeblood of the UK economy, but with an even greater focus on technology; we will be accelerating our digital agenda and future-proofing Recognise. 

“This will include speeding up, streamlining and digitalising operational and customer touchpoints, as well as developing new products and services to help businesses with the financial challenges they face.”

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