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13 November 2018

Challenger bank scoops global industry award

The UK's first challenger business bank to be completely born in the cloud has scooped international recognition after being named Bank of the Year in the Global Business Excellence Awards.

Letchworth-based Redwood Bank was declared as the only winner from the UK at the prestigious event, scooping the Wealth and Finance International Magazine prize for small and medium-sized enterprises (SMEs).

The awards recognise firms that are exceeding expectations and pushing the boundaries in sectors including asset management, private equity, venture capital, banking, insurance and legal services.

Editor Laura Brookes said: "Redwood Bank represents the future of the banking sector. It is, fundamentally, a company that is willing to adapt, develop and evolve to the shifting demands of the modern world; disruptors in an industry that is long overdue for disruption.

"At their heart, Redwood Bank is people-centric, supporting SMEs across Britain to thrive in their respective industries. For this, they were recognised as 2018's 'Bank of the Year: Best for SMEs' by Wealth & Finance International, an accolade for which they are singularly qualified for."

Since its inception, Redwood Bank has invested heavily in technology, people and service, ensuring every customer's experience is secure, fast and easy.

The chief executive officer (CEO) and co-founder of Redwood Bank, Gary Wilkinson, said: "We are thrilled to have won this award on a global stage. To be award-winners within our industry, just over a year since we opened for business, is a huge achievement.

"It is particularly satisfying to have been picked as the only UK winner, because the judges take into consideration a variety of different factors and geographies when making their decision. They don't necessarily focus on the biggest or the loudest businesses, but instead on those who they believe are truly deserving of recognition."

The 2018 Global Business Excellence Awards were launched on the back of months of qualitative and quantitative research undertaken by the magazine's in-house research team.

All of the winners are awarded on a strict merit basis, rather than on popularity, providing a platform to reward and promote talent on a global scale.

Redwood Bank was launched in August 2017, becoming Britain's newest challenger bank for small to medium sized businesses.

The Bank's products include individually-assessed mortgages for business owners and professional landlords, as well as a range of Best Buy savings accounts, which are offered to charities, clubs and associations as well as businesses.

For further information, visit www.redwoodbank.co.uk

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