UK’s Recognise Gets Its ‘Restricted’ Banking License

Recognise, a subsidiary of Britain’s City of London Group, has been awarded a restricted banking license by regulators in the U.K.

A full license could come as early as the first quarter of 2021. The timeline is consistent with one City of London Group included in a slide deck on its website describing the licensing process.

Recognise was created in 2018 with a mandate to serve small- to medium-sized businesses (SMBs).

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