A Hertfordshire-based challenger Bank has scooped an award for “innovating, growing and improving” its business.

Redwood Bank has been named the winner of the Award for Excellence: SME Banking, by Wealth & Finance Global Business Excellence magazine.

The Bank has only been in business since 2017, but has already collected an impressive haul of awards from across the financial industry.

The Chief Executive Officer (CEO) and Co-Founder of Redwood Bank Gary Wilkinson said: “This award is particularly important to us because the judges only award on merit and not because of popularity. They have a reputation for recognising the best in business, so it’s a huge honour to have been presented with the Award for Excellence.

“Everything we do is about delivering excellence to our customers, so it’s nice to know that our hard work has been recognised and we’ve been rewarded for all our hard work.”

The Wealth & Finance Global Business Excellence Awards is an annual programme.

A spokesperson for the awards said it is a “a stamp of excellence” and all winners become part of an “exclusive and illustrious” group of influential names in the financial market.

“As with all our awards, the Finance Awards are purely based upon merit. To ensure this, our in-house research team go in-depth to find the industry firms and leaders who deserve acknowledgement for their outstanding performances within the sector. Winners of this award can be rest assured that their win was one that was truly deserved.”

Since its inception, Redwood Bank has invested heavily in technology, people and service, ensuring every customer’s experience is secure, fast and easy.

Already, the Bank has scooped another award earlier this year, picking up the Most Innovative Property Loans Provider 2019 prize at the Global Business Insight Awards.

Last year Redwood was also named Bank of the Year at the Global Business Excellence Awards.

Redwood Bank’s products include individually assessed mortgages for business owners and professional landlords, as well as a range of Best Buy savings accounts, which are offered to charities, clubs and associations as well as businesses.

For further information, visit www.redwoodbank.co.uk