New base will be a Platform in the heart of the city’s tech cluster.
Recognise Bank, one of the UK’s newest challenger banks, has opened a new regional hub in Leeds, showing its commitment to the North and reinforcing its fintech credentials.
Recognise will now be based in Platform, Bruntwood SciTech’s building at the heart of the city’s digital and tech cluster and home to over 80 of the region’s technology businesses. Leeds was named as one of 2021’s fastest growing tech cities by the UK Digital Economy Council, with its companies attracting over £40m in investment last year.
As a lender focussed on supporting growing SMEs with a unique blend of relationship management and cutting-edge cloud-based banking technology, the new location is the perfect home for Recognise Bank. It will be the base for a number of Business Development Managers with access to regionally based underwriters.
Recognise was created with a mission to support growing businesses who are being poorly served by the big banks, especially outside of London and the South East. In addition to offering true relationship banking, Recognise Bank is building a national footprint with hubs in London, Birmingham, Manchester and the new office in Leeds. More hubs are planned in the coming years.
James Meigh, Regional Director, North, for Recognise Bank, will head up the new office at Platform. He said: “The growth of technology firms alone shows just how vibrant business is in Leeds and the region. But other business sectors are in great health and are keen to work with financial partners and professionals that understand the local economic environment and can help them grow.
“Leeds is quickly becoming one of the UK’s most important financial services sectors outside of the Capital, so it is a great place for Recognise Bank to base itself as we look to grow and serve even more customers in the North.”
Recognise Bank was created to provide SMEs with digitally enabled, relationship-led banking across a range of unregulated lending options including Commercial Mortgages, Professional Buy-To-Let Loans, Bridging Loans, Working Capital Loans and Professional Practice Loans.
In addition to commercial lending, the Bank launched a range of FSCS protected personal savings accounts in September 2021 following the granting of it full banking authorisation. This year Recognise Bank plans to launch business savings accounts.