Q2 2019

Wealth & Finance International - Q2 2019 13 Launched in 2017, Redwood Bank’s success can be attributed to two specific strengths. The first is a realisation that the future of business banking is a decidedly digital one. Although traditional brick and mortar establishments still remain a stalwart in the industry, challenger banks have thrived through their adaptability, often outmanoeuvring their larger counterparts. In this, Redwood Bank can be described as thoroughly future-proof - a business bank that evolves on the back of the needs of their clients. Very much tying into this idea is Redwood’s second strength: namely, its traditional approach to customer service. As Gary Wilkinson, Redwood Bank’s CEO, says: “Redwood Bank is a business bank with a difference. It was founded with advanced systems and traditional values, with a real focus on lending to small and medium-sized organisations.” More than anything, Redwood Bank have capitalised on the back of a perceived disadvantage – their small size. Yet, this small size has yielded an unprecedented ability to offer a personal service to their clients, as Gary continues: “The financial sector is very much dominated by the five major high street banks. They are household names, so people are naturally attracted to them, but their scale and operating models make it difficult for them to deliver a personal bespoke service. Many small and medium sized businesses require financial flexibility and personal service to support their business needs, which is one of the reasons why Redwood has flourished. Some SME borrowers may not fit the lending criteria that the major banks require, but challenger banks such as Redwood are able to help. Its model of personal service and manual underwriting means we can help businesses strengthen or diversify.” Almost two years after launching, Redwood Bank has secured its position as one of the best banks A Business Bank Catering to the Needs of Small and Medium Sized Businesses Small businesses play an incredibly important role in the global economy. In the UK, SMEs are simply essential in the day to day operation of British business, accounting for the majority of private sector turnover. Catering exclusively to the needs of this market, Redwood Bank has become a disruptor on the financial services landscape, differentiating itself through a steadfast commitment to its clients. As a result, we have awarded Redwood Bank the Award for Excellence in SME Banking, and have sought to take a closer look at this exceptional establishment. for SMEs in the UK. On the back of this success, Redwood have plans to expand into more regions, and broaden their product range to cater to a greater audience. Company: Redwood Bank Address: The Nexus Building, Broadway, Letchworth Garden City, SG6 3TA, United Kingdom Website: www.redwoodbank.co.uk Telephone: +44 (0) 330 053 6067 Feb19590