Redwood Bank has won a prestigious industry savings award for the third year in a row.
The Hertfordshire Challenger Bank has beaten Nationwide Building Society, United Trust Bank and Virgin Money to be named the winner of the Best Business Variable Rate Deposit Account Provider category.
It is the third Business Moneyfacts prize for the Bank, which brings its entire awards haul to an impressive 25 in just four years.
For the second year running the winners of the Business Moneyfacts Awards were announced virtually via Twitter. The awards programme has been around since 2006 and pre-COVID-19 it had become the largest business finance ceremony in the UK.
The winners are determined by extensive product monitoring carried out throughout the preceding year. Broker and business communities are also consulted for their feedback on each organisation.
Gary Wilkinson, CEO and Co-Founder of Redwood Bank, said: “This award is especially important because it was based on our performance during 2020, a year which was very challenging for everyone.
“It’s a huge honour to win this award three years in a row, as the Business Moneyfacts Awards logo is such a widely recognised badge of excellence.
“Awards are not what drives us, instead we are committed to providing the best possible customer products and service we can. Having said that, when our hard work is recognised and we receive yet another award, I cannot deny that it feels great that our fantastic team is being recognised.”
According to organisers of the awards ceremony, the finalists and eventual winners are decided upon via a combination of methods. For all product-specific categories, detailed weekly analysis of the data provided to them is studied by its research team. Judges look at the providers who offer competitive products to new savers, but also those providers that are supporting their existing customers as well. In addition, they also take into account feedback from customers.
For service categories, the broker and business communities are offered the chance to submit testimonials for their preferred providers.
The awards were announced on Thursday, April 15, 2021.