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Challenger Bank shortlisted in UK’s largest business finance awards


WARRINGTON- based Redwood Bank, set up less than five years ago, has been named as a finalist in three categories in the largest business finance awards ceremony in the UK.

The Challenger Bank has been shortlisted in the ‘Best Business Variable Rate Deposit Account Provider’ category at this year’s Business Moneyfacts Awards. The Warrington-based Bank, which won the award in 2019, 2020 and 2021, is looking to see a repeat of its success in previous years.

The Bank’s growing reputation for quick turnaround times on commercial mortgage applications has also been recognised, with nominations for two further awards: ‘Best Service from a Specialist Buy-to-Let Mortgage Provider’ and ‘Best Service from a Commercial Mortgage Provider’.

The Business Moneyfacts Awards celebrate the very best brands in the business finance and commercial finance sectors. As part of the shortlisting process, judges carry out thorough product monitoring and consider feedback from the broker and business communities.

The shortlists were announced on Twitter by the Moneyfacts Awards Team, with Redwood facing competition from Virgin Money, Lloyds Bank and Yorkshire Building Society across the three different awards.

The winners will be announced at the awards ceremony on April 28 at Evolution London.

CEO and Co-Founder of Redwood Bank, Gary Wilkinson, said: “We’re proud and excited to be named as a finalist in three categories in the Business Moneyfacts Awards, comprising both business savings and mortgages, and we’re hoping for a fourth win in a row as ‘Best Business Variable Rate Deposit Account Provider’.

“This particular nomination reflects our commitment to offering businesses rewarding savings options, giving them flexibility when it comes to accessing their funds and making sure their cash is working hard for them.

“Our nomination for two mortgage provider awards is testament to our great team, who works closely with our intermediaries to help find a product that fits their customer needs and ensure deadlines are met.

“All three nominations demonstrate the important role Redwood Bank plays in the development and future of SMEs, something which we are proud to be part of.”

The latest award nominations come fresh off the back of another win – last month, Redwood Bank was named ‘Best Business Notice Account Provider’ in the 2022 Savings Champion Awards for the fourth year running.

View the Bank’s impressive awards history by clicking here.

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1 Comment

  1. Genuine question: did they nominate themselves?

    I ask because when I looked up an earlier award nomination – Redwood Bank and WBC – I asked a Freedom of Information question which – eventually – showed that WBC had nominated themselves for an award.

    I believe that this is a common marketing practice – organisations run very lucrative awards nights with several nominated players in each category. The nominated companies or councils pay a couple of thousand for a table, the organiser makes a handsome profit and everybody has a good news story to circulate.

    I don’t know if that’s what has happened in this particular case, but if anybody’s interested, here’s the FOI response to my original question:

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