Press16th June 2020

Recognise selects ClearBank as banking partner

Recognise Bank
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Ahead of its launch later this year, new SME banking entrant Recognise has selected ClearBank as its banking partner. Recognise’s appointment of ClearBank and its cloud-based API banking solution, will transform and improve banking service levels with enhanced transparency and speed of processing transactions for SMEs.

Recognise, a subsidiary of the City of London Group, will offer financial services to the UK SME sector, this year and to the personal and business savings markets next year. Subject to the granting of a banking licence, Recognise will target the underserved SME sector. Its customer-focused technology will enable the delivery of a seamless and enhanced banking experience to businesses and entrepreneurs who are often frustrated with their current bankers.

ClearBank’s intelligent and robust banking solutions will enable Recognise to offer real-time payment and innovative services to these SME customers. Through the partnership with ClearBank, Recognise will be able to fully realise the benefits of cloud services, enabling flexible scalability, ensuring the delivery of high quality banking services.

ClearBank’s appointment follows Recognise’s decision to select Mambu's composable banking platform. Working closely together, ClearBank, Mambu and Recognise are building a banking infrastructure that will transform the face of relationship banking with businesses as we know it today.

Jason Oakley, CEO of Recognise said “We are really excited to work with ClearBank and explore how we can enhance the overall customer experience through its real-time, API-first banking solution. It is a pleasure to take forward this partnership with both ClearBank and Mambu, working to develop new technologies and frameworks that will improve the overall banking experience for SMEs in the UK.”

Charles McManus, CEO of ClearBank added “It’s been a great opportunity for us to work with Recognise and once again prove the value and power of our next-generation banking solution. Through our banking licence and intelligent solutions, we will enable Recognise to offer real-time payment and banking services to their customers. Combined with Mambu’s composable banking solution, this partnership will bring the benefits of advancements in banking technology to the under-served SME market”.

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