Boost for small firms as Recognise Bank launches in Yorkshire

Recognise Financial Services Ltd has been granted regulatory approval to become Recognise Bank.

It is one of the first SME-focused banks to receive authorisation since the pandemic began and it will begin selective lending, on an unregulated basis, before gearing up to full operational activity in the first half of 2021.

A spokesman said: “Recognise Bank will offer a relationship-led proposition which will be delivered through dedicated relationship managers based in London, the Midlands, Manchester, and Leeds.”

Jason Oakley, founder and CEO of Recognise, said: “We know that 2020 has been overwhelmingly tough for SMEs. The pandemic has caused them numerous setbacks and could add further stress to the already existing funding gap.

“At Recognise, we bring a genuine relationship-led approach to SME banking, providing speed and flexibility and helping SMEs through these unpredictable times and beyond. Personal relationships are what set us apart; we build them on deep understanding of the SME, being readily accessible to them and building their trust.

“We want to be the ‘private bank’ for SMEs and build a reputation where customer advocacy is exceptional."