Having already signed deals with Mambu and nCino for parts of its infrastructure, SME banking startup Recognise has now inked another deal.
Recognise has agreed with City Dynamics that the latter will help it implement Microsoft Dynamics 365 Business Central as the financial backbone for the new bank.
The UK FinTech startup said it picked City Dynamics due to the company’s deep sector knowledge and experience to help design the platform structure to allow seamless data flow between Mambu, the cloud banking provider and Dynamics 365 Business Central.
Recognise, a subsidiary of AIM Listed City of London Group is set up to launch later in 2020 and will offer financial services to the UK SME sector and the retail and business deposits market.
“It is a pleasure working with the City Dynamics team, their accounting experience and background is clearly evident in the quality of their advice to us and the style of implementation delivery,” said Monica Velaquez, CTO of Recognise. “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, added, “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.”
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