Recognise Bank

Recognise Bank operates as a UK-based financial institution, established in 2017 to address a perceived gap in the market for relationship-led banking for small and medium-sized enterprises (SMEs). The company was co-founded by Jason Oakley and Bryce Glover, both with extensive backgrounds in the banking sector, including roles at Metro Bank, RBS, and Natwest. Their shared experience fueled the concept of a bank that combines modern digital capabilities with traditional relationship management, moving away from what they viewed as the impersonal nature of incumbent banks.

The bank secured its full, unrestricted banking license from the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) in September 2021, a crucial milestone that allowed it to begin accepting deposits. Its business model is centered on a dual revenue stream. The first is generating deposits from personal and business savings accounts, which are offered with competitive interest rates and are protected by the Financial Services Compensation Scheme (FSCS). The second is providing tailored lending products to the underserved SME sector. This funding is then deployed to finance a portfolio of specialist business loans. By March 2024, the bank had grown its deposit base to £412 million and its loan book to £303 million.

Recognise Bank's product suite is specifically designed for UK SMEs, commercial property owners, and professional practices. Its lending offerings include commercial mortgages, professional buy-to-let loans for landlords with multiple properties, and bridging loans for short-term financing needs. The bank also provides working capital loans to help businesses manage cash flow. For savers, it offers a range of fixed-rate bonds and notice accounts for both individuals and businesses, accessible through a simple online platform. This digital-first approach aims to provide a quick and straightforward user experience, while relationship managers are available to offer dedicated support and build client relationships, a core component of the bank's founding philosophy.

Keywords: SME banking, business loans, commercial mortgages, bridging finance, professional buy-to-let, business savings accounts, personal savings accounts, challenger bank, fintech, relationship banking, UK banking, commercial real estate finance, working capital loans, FSCS protected savings, digital banking, PRA regulated, FCA regulated, Jason Oakley, Bryce Glover, City of London Group