SME challenger bank Recognise partners with nCino
UK SME challenger bank Recognise Financial Services has signed a partnership with cloud banking firm nCino, with the latter set to provide a range of services.
Recognise will implement and integrate third party services from nCino ranging from biometrics, to video conferencing, due diligence checks, and open banking initiatives, as well as the vendor’s Bank Operating System.
Recognise Financial was founded by Jason Oakley, former managing director of Metro Bank’s commercial and mortgage lending business.
The bank is in the process of obtaining a banking licence. It originally planned to launch trading under restriction in mid-2019, and is aiming for a 2020 full launch.
“We needed a customer-driven portal approach and nCino’s capabilities are the best fit for the enhanced level of customer experience we will be offering the UK’s underserved SMEs,” says Jason Oakley, CEO of Recognise.
“[The partnership] will help us create an ecosystem which we can constantly update and will help us deliver a bank in a box that future proofs the needs of the customers of tomorrow.
“We believe and are proud to say the SME experience with Recognise Bank will be transforming and we look forward to being on their growth journey with them.”
Ed Lane, vice president of sales for EMEA at nCino, adds: “We’re honoured to be working with the progressive team at Recognise, which is dedicated to fundamentally improving the UK’s SME banking sector.
“Customer expectations are changing rapidly, and today’s customers and SME owners demand digital experiences that make their lives easier.”