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
Monna Patel
Chief Executive
Bryce Glover (Interim)
Saving Information
No. of Savers
Unknown
Amount of Deposits
£95m as at 31st March 2022
Loan Book
£100m as at 31st March 2022
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
Trustpilot Reviews
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