Ep583: How UK challenger banks are using tech solutions to dominate SME lending

Ben Snowman, VP Partnerships & Advisory, Mambu; Sahil Thapa, Chief Technology Officer, Recognise Bank

Challenger banks and specialist banks in the UK took a 55% share of the SME lending market in 2022, up from 51% in 2021 and the second year in a row that they exceeded lending from the UK’s 5 biggest banks. In total, the smaller banks lent £35.5 billion ($44.4 billion) to SMEs last year. Among the challengers, Recognise Bank offers bespoke business lending to SMEs, using a solution provided by SaaS platform Mambu. Robin Amlôt of IBS Intelligence discusses the challenges of SME lending in the UK with Ben Snowman (pictured), VP Partnerships & Advisory at Mambu and Sahil Thapa, Chief Technology Officer of Recognise Bank.