Recognise Bank is a digital SME bank offering tailored commercial loans and competitive savings accounts for businesses and personal savers, utilizing a streamlined online setup and dedicated relationship management. The bank addresses the need for flexible financing solutions and high-interest savings options, enabling businesses and individuals to maximize their financial potential without traditional banking constraints.
Funding
$30.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Small and medium-sized enterprises (SMEs) often face challenges in securing necessary funding and maximizing savings due to rigid traditional banking systems. These systems can be slow, inflexible, and may not cater to the specific needs of growing businesses and individual savers seeking competitive interest rates.
Solution
Recognise Bank is a fully licensed digital bank that provides SMEs and personal savers with streamlined access to commercial loans and savings accounts. By leveraging a digital platform, Recognise Bank offers a quick and simple online setup, coupled with dedicated relationship managers to provide tailored support. The bank aims to empower businesses with flexible financing solutions, including bridging loans and commercial mortgages, and enable individuals to grow their savings through competitive interest rates and a range of savings account options.
Target Audience
Recognise Bank primarily targets small and medium-sized enterprises (SMEs) seeking flexible financing and savings solutions, as well as personal savers looking for competitive interest rates and easy-to-manage savings accounts.
Features
- Online platform for simplified account setup and management
- Dedicated relationship managers offering personalized support
- Business savings accounts with easy access, notice, and fixed-rate options
- Personal savings accounts with competitive interest rates and FSCS protection
- Bridging loans up to £10 million with tailored terms up to 24 months
- Commercial mortgages from £250,000 to £7.5 million with terms up to 10 years