Recognise selects ClearBank to boost banking services for the SMEs

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SME banking solutions provider, Recognise has selected ClearBank as its banking partner in a bid to boost its banking service levels with the addition of transparency and faster transaction processing for the SMEs. Recognise, subject to the granting of a banking license, will be targeting the COVID-19-affected and the financially stressed UK SME sector.

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.”

According to Recognise, the partnership with ClearBank is expected to enable the former to offer real-time payments and services to the SME sector. The new SME banking solutions provider will be able to benefit from cloud services, flexible scalability and enhanced banking services.

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”.