Recognise Financial Services selects leading Microsoft partner City Dynamics to implement new finance system ahead of 2020 launch.
In preparation for its highly anticipated 2020 debut, the new SME-focused bank Recognise has teamed up with City Dynamics, a Microsoft Gold Partner, to deploy Microsoft Dynamics 365 Business Central as its financial foundation.
City Dynamics, known for its expertise in the financial services sector, provides robust business management solutions through Microsoft’s cloud-based Dynamics 365. Recognise chose City Dynamics for their extensive sector knowledge and experience to design a platform that ensures seamless data integration between the cloud banking provider Mambu and Dynamics 365 Business Central.
As a subsidiary of AIM-listed City of London Group plc, Recognise aims to serve the UK SME sector and the retail and business deposits market. Pending the approval of its banking licence application, Recognise is poised to address the needs of the underserved SME sector. The bank has recently confirmed the submission of its authorisation application, aiming to launch later this year, subject to regulatory approval.
Recognise’s customer-centric technology promises to deliver an enhanced and seamless banking experience to a growing number of dissatisfied SMEs.
The selection of City Dynamics follows the earlier appointments of Mambu and nCino. These entities will collaborate with Recognise’s finance team to develop a technology infrastructure designed to revolutionize SME banking relationships. This partnership highlights Recognise’s commitment to improving the banking experience without relying on outdated platforms and technologies.
By leveraging the capabilities of Microsoft Dynamics 365, City Dynamics helps financial services businesses enhance information flow, efficiency, and productivity. Their tailored approach, backed by extensive financial services experience, is ideal for fintech companies looking to drive growth.
Monica Velaquez, CTO of Recognise, commented, “It is a pleasure working with the City Dynamics team, their accounting experience and background are clearly evident in the quality of their advice to us and the style of implementation delivery. They’re supporting us towards the launch of the bank with waves of functionality and new technology that will improve the banking experience for SMEs in the UK.”
Haseet Sanghrajka, CEO of City Dynamics, stated, “We’re really excited Recognise selected City Dynamics and Microsoft Dynamics 365 Business Central. Recognise saw the combination of Microsoft platform and our Microsoft Dynamics expertise within the financials services sector. It is a great opportunity for the team at City Dynamics to work with Recognise in partnership with Mambu. We’re looking forward to a truly collaborative relationship which will provide Recognise with an amazing finance platform to help them achieve their goals. We see this partnership as the future of banking technology.”
