Herts challenger bank celebrates three-year anniversary
A challenger bank that is “successfully navigating the uncertain waters” of the COVID-19 pandemic and Brexit is celebrating its three-year anniversary.
Since its 2017 inception, Hertfordshire-based Redwood Bank, which focuses entirely on businesses, has tripled its workforce and scooped 22 awards.
In addition, over 4,000 customers currently deposit £350m with the bank and over £250m has been lent in its first three years.
Gary Wilkinson, CEO and Co-Founder of Redwood Bank, said: “We’re very proud to have achieved so much in just three years. It’s not always been easy, particularly over the last few months, but we have continued to support our existing and new customers, and so far, we’ve continued successfully navigating the uncertain waters of the global COVID-19 pandemic and Brexit.
“I think that the figures speak for themselves and that much of our success has been down to fostering an innovative work culture. Each and every member of staff is valued. A lot of time and effort goes into ensuring they are supported fully, and in turn, we receive loyalty, determination, and hard work.
“We’re a dynamic and flexible bank and we’re completely committed to small businesses up and down the country, helping them to grow and flourish during, what is, a very unsettling and trying time for all.”
Norman Chambers, Managing Director of the National Association of Commercial Finance Brokers (NACFB), said: “Redwood Bank may only be three years old, but the team has already made a huge impact within the challenger bank industry.
“Our dealings with Redwood have proven how dedicated the bank is to creating meaningful, long-term relationships with brokers. It’s an organisation which is proactive, professional and committed to creating long-term success.”
Redwood Bank was the first challenger bank to be completely ‘born in the cloud’ and was developed to offer a real alternative for SMEs, looking to make sure their properties and cash work harder for them.
Just last month, the bank celebrated a major industry award for the second year running, beating the likes of Nationwide Building Society and Virgin Money to be named the Best Business Variable Rate Deposit Account Provider in this year’s Business Moneyfacts Awards.