Redwood Bank has formed a partnership with Akoni Hub, enabling the Challenger Bank, set up to support Britain’s SMEs, to offer its savings products via Akoni.
Akoni Hub is a cash management platform for wealth managers and SMEs and has a client base made up of corporates, charities and high-net-worth individuals.
Gary Wilkinson, CEO and Co-Founder of Redwood Bank, said the award-winning Bank’s partnership with Akoni Hub would diversify its sources of funding.
He said: “We are passionate about supporting British SME businesses, helping them navigate the ever-changing financial and business landscape. We pride ourselves on exceeding customer expectations and we’re proud to be providing our products to Akoni clients.
“We believe that the combination of Akoni’s platform and Redwood’s competitive products is a great opportunity to extend our position in the UK savings market. We look forward to working closely with Akoni Hub and making our savings solutions available to a wider audience.”
Felicia Meyerowitz Singh, co-founder and CEO at Akoni Hub, added: “We’re delighted to welcome Redwood Bank to the Akoni Hub platform.
“This partnership expands the range of attractive savings products available to our clients to provide them with better rates of interest and a reduction in risk, all within one online application.”
Redwood Bank was launched in August 2017 to support Britain’s SMEs by offering secured mortgages for business owners, as well as for experienced commercial and residential property investors.
It delivers fast and efficient mortgage decisions to help its business customers seize property opportunities, and offers competitive business savings accounts.
Find out more about Akoni: Akoni is an award-winning UK cash platform, which provides a marketplace to financial advisors and wealth managers through a bespoke white-label offering, or off-the-shelf offering. Akoni uses innovative technology to personalise cash planning solutions for clients, and also provides a full API solution to banks and insurance clients.