United Kingdom
Recognise Bank is a rising star in providing bespoke business lending to UK SMEs (small and medium enterprises), as well as offering business and personal savings accounts.
Recognise Bank has taken much of what was good about business banking from the past, namely bespoke and personalised service, and paired it with the latest cloud technology to build more modern financial experiences for the UK’s underserved SMEs. Together with streamlined processes, it offers customers an unparalleled level of service.
Recognise Bank is on a mission to create a truly customer-friendly SME bank. Demand for loans and credit lines as businesses recover following the pandemic positions Recognise Bank favourably to serve its target audience effectively.
Recognise Bank chose Mambu because the cloud offers ultimate flexibility, embraces simplicity and allows the bank to focus on creativity, innovation, and creating value-added services for its SME customers. Read the full case study to learn more.
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Small businesses are the lifeblood of the UK economy. Our ambition is to help them with speedy, expert services. To achieve that level of freedom we needed a composable architecture, something that’s sufficiently flexible and adaptable so that we don’t have to keep re-platforming, which is expensive and inefficient.
To successfully achieve what it set out to do, and to serve starving SMEs effectively, with speed and flexibility, Recognise Bank needed a state-of-the-art cloud platform to support a cutting edge, digitally-enabled proposition.
Having considered a blend of competitors, from traditional core systems to cutting-edge cloud platforms, Recognise Bank found a great match in Mambu, thanks to its cloud native approach.
Having initially gone to market with a range of products in commercial property lending and working capital loans for SMEs, Recognise Bank launched business savings and is looking at launching asset finance solutions in the future. In the first 12 months following launch, Recognise Bank generated £1billion worth of lending inquiries and loaned £100 million in commercial lending.
