Recognise Bank has marked its first year under CEO Simon Bateman with profitability ahead of plan and a renewed strategic focus. The Intermediary caught up with Bateman to discuss how he is “restarting a startup” inside an established challenger bank, and what that means for the next phase of the lender’s growth.
You’re approaching your first anniversary at Recognise Bank. What’s been the headline in your first year?
At our half-year, we’ve reported profitability which is ahead of forecast and is a great milestone and huge achievement for the team. But the more important story is what sits underneath it as we’re rebuilding the foundations so that profitability is sustainable, not a one-off. Think of it as “restarting a startup”, only this time it’s an established challenger bank that we’re relaunching with sharper focus and better infrastructure.
Relaunching a startup sounds harder than starting from scratch. What does that entail day-to-day?
Launching a bank is difficult enough, restarting one is even harder. You inherit legacy, expectations and customers who still need you to deliver. We’ve re-sized our ambitions, but that doesn’t mean they’re small, plus concentrated on the practical work such as enhancing the website, rebuilding our data platform, and automating procedures where it adds real value. In my experience, it’s the unglamorous, foundational tech that sets us up for long-term success.
With that in mind, where does technology sit in your strategy?
Technology is an enabler rather than a headline. We’re not trying to be “the most innovative” for its own sake. We’re not structurally digital yet, that’s going to be a large part of our growth and ambition, but everything we build is anchored to customer need. As a specialist lender, we don’t need a complicated, over-engineered tech stack. Simplicity is key, and we design around broker and customer workflows from the outset.
Everyone’s talking AI. How are you approaching it?
We won’t force AI or machine learning where they aren’t needed. Any inclusion will be proportionate and purposeful with a focus on improving onboarding and customer outcomes, and not replacing the need for bespoke, human decision-making, but supporting it. Brokers value judgment and nuance and so our tech should support that, not get in the way.
Can you give us some practical examples of what you’re changing?
Yes. First, it’s automation with streamlining of repeatable processes, so that underwriters spend time on judgment, not admin. Secondly, data, as rebuilding our data platform is vital, to ensure information flows cleanly from application to decisioning, giving teams and brokers clearer visibility. Thirdly, it is experience with website enhancements that remove friction and make it easier for brokers to find criteria, track cases and reach real people quickly.
What are you hearing from brokers and how is that shaping the roadmap?
There are too many assumptions in the market about what brokers might want. We’re listening to what they actually want which is clarity on criteria, predictable SLAs, fewer touchpoints, and status updates that don’t require a phone call. Our roadmap reflects that. We want to be best-in-class and the lender partner of choice for brokers, which means building solutions that make their jobs easier and keeping it simple.
It also means focusing energy where it matters. We’ve re-sized ambitions to match the outcomes we want for customers and the bank. That’s how you deliver quickly and credibly. We’re relaunching Recognise Bank with discipline and so automating the right parts, avoiding needless complexity, and investing where it improves the broker and customer journey.
How will you and brokers know the relaunch is working?
We’ll all see it in the day-to-day with faster onboarding, simpler interactions to progress a case, clearer communications, and consistent decisions. Internally, we’ll see efficiency gains from automation and a cleaner data process. Externally, brokers will feel that we listen and respond.
Final word to our readers, why should they use Recognise Bank now?
Because we’re building with you, not at you. We listen to brokers and we’re delivering simple, customer-centred technology that supports specialist lending without over-engineering it. We’ve proven momentum by hitting profitability ahead of plan, and we’re re-laying the foundations to keep it that way. If you want a lender that’s practical, proportionate and partner-focused, we’d love to work with you.
