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Recognise Bank

General Information

Overview

Recognise is a specialist SME bank which was awarded its banking licence in November 2020 and launched its first savings accounts in September 2021. It is majority owned by AIM listed City of London Group Plc with PartyGaming founder, Ruth Parasol's family office also investing £25m in 2020.

Banking Licence

Recognise have their own banking licence which isn’t shared with any other banks

Registration Numbers

Companies House Registration: 10603119

Financial Conduct Authority: 849404

Based: London

Date Launched: September 2021

FSCS Protected? Yes

Branches: Recognise does not have any branches

People of Interest

Head of Savings

Damian Trussler

Chief Executive

Jason Oakley

Saving Information

No. of Savers

Unknown

Amount of Deposits

Unknown but likely to be under £100m given they have just launched

Loan Book

Unknown

Account Opening and Management

How Do I Open a Savings Account

Internet

How Do I Manage a Savings Account

Internet, Telephone

 

Lending Activities

Recognise has five areas of lending:

1) Commercial Property - lending to property investors and SMEs who either own their premises or are looking to acquire them

2) Professional Practice Loans - lending to professional firms (e.g. accountants, doctors, solicitors) to finance their businesses

3) Working capital - short term finance (up to three years) to UK SMEs

4) Bridging loans - on commercial and residential property

5) Buy to let loans - on residential property for professional landlords with four or more properties

Reviews

Feefo Reviews

No reviews on Feefo

Savings Guru Verdict

Recognise have launched with just two personal savings accounts - a 5 Year Fixed Rate Bond and a 95 Day Notice Account.  We expect them to launch further accounts soon, particularly for SMEs, where they are expected to be the first customer to go live on Newcastle Strategic Solutions (a savings management service) platform for business savings.  We also eagerly await the first customer reviews of their savings accounts to see what savers experience of their service is.

Contact Information for Recognise Bank

Contact Details

Address: The Royal Exchange, First Floor, 1 Royal Exchange Steps, London EC3V 3DG

Telephone: 0345 872 7888

Website: https://www.recognisebank.co.uk/

Email: support@recognisesavings.co.uk

Open: Monday to Friday, 9am - 5pm

About The Savings Guru

We help savers get the best deal for their money by providing unique insight in to the savings market.  We help prospective banks apply for a banking licence and we help build customer services, products and marketing for them.  We also work with existing banks and building societies to improve their savings propositions.  This  insider view of savings means we are uniquely placed to help savers.

Find out moreMeet the Team

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