A Warrington Challenger Bank is celebrating a double industry award win, beating two of the country’s largest high street banks in one of the categories.

Redwood scooped not one, but two prizes at the first virtual National Association of Commercial Finance Brokers (NACFB) awards show.

The Bank, which launched in 2017, won the Most Innovative Lender award, beating amongst others, Barclays and Lloyds to the title. A NACFB spokesperson said that judges had been looking for “advances in product development, service and the pioneering ways that lenders engage with brokers.”

Redwood also picked up the top prize for Specialist Lender of the Year, again beating some distinguished competitors in receiving this accolade.

In addition, Redwood was the only Business Challenger Bank to reach the final in the Business Bank of the Year category, going up against NatWest, Barclays and Lloyds, with the prize going to the Lloyds Bank.

Gary Wilkinson, CEO and Co-Founder of Redwood Bank, said: “What a fantastic event it was for Redwood Bank. We’re very proud to have beaten two of the country’s largest high street banks, which have years of experience and reputation behind them. It’s always tough starting out, but we’ve come a long way in three years, and we have a fantastic and hardworking team to thank for this. I would also thank very much, our very loyal and hardworking broker community for their continued support.

“The pandemic has changed things significantly within financial services, but everyone at Redwood has faced the COVID-19 crisis head on. To have our hard work and dedication recognised by the industry is a wonderful achievement, and I want to thank each and every member of our staff for their tremendous loyalty and commitment.

“I’ve said it before, but Redwood Bank may be small in stature, but its mighty where it matters, and the industry is now taking note.”

The award recipients were decided by NACFB member votes and feedback from a broker judging panel.

NACFB’s Norman Chamberssaid: “Our dealings with Redwood have proven how dedicated the Bank is in creating meaningful, long-term relationships with brokers. It’s an organisation which is proactive, professional and committed to creating long-term success.”

Redwood Bank provides individually assessed mortgages for business owners and professional landlords, as well as a range of Best Buy savings accounts, which are offered to businesses, clubs, associations and charities.

For further information, visit www.redwoodbank.co.uk.