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UK challenger Redwood gets banking licence

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Redwood Bank, a new UK-based SME challenger, has secured a banking licence following approval from the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA). As Banking Technology reported in October last year, Acorn Financial Partners (AFP) submitted a banking licence application. Now that it has authorisation, AFP is called Redwood Bank. Redwood says it […]

UK challenger Redwood submits banking licence application

UK flag

Acorn Financial Partners (AFP) has submitted a banking licence application to the UK’s Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA). On authorisation, AFP will be called Redwood Bank, a new UK-based SME challenger bank, and it anticipates receiving its licence early in 2017 and opening to customers later the same year. AFP’s majority […]

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