Aldermore Bank (UK) provides commercial banking services to retail and institutional customers. Founded in May 2009 by CEO Phillip Monks, Aldermore Bank currently serves and provides customers with services such as insurance, mortgage, and other financial services within the United Kingdom. It was originally founded to offer straightforward products and services to SME’s (small and medium-sized businesses), landlords, and entrepreneurs. Aldermore Bank has consistently improved on its profits throughout the years and maintains its standing as a customer-driven institute. As of March 2018, Aldermore Bank is part of FirstRand; a banking holding company.
Aldermore Products & Services
Aldermore Bank offers a variety of specialised services geared towards smaller and medium-sized enterprises. Their financial lending covers four main areas including Asset Finance, Invoice Finance, Commercial mortgages, and Residential Mortgages. The idea behind the specialised services is to provide straightforward products and banking solutions to customers in smaller market segments; including smaller sized firms. Deposits are the ultimate driving force in their lending activity, and Aldermore hopes to heighten its status as an efficient alternative to existing banks across Britain. Interestingly, Aldermore Bank does not have a branch network- and provides services online or by phone through the nine regional offices located across the UK.
Aldermore Awards and Recognition
Despite being founded less than a decade ago, Aldermore Bank has won numerous awards in 2017 and 2018. The bank is recognised for their services to SME’s, entrepreneurs, and landlords. In fact, most recently in 2017, Aldermore was awarded as SME-winner for its support of smaller sized firms. Other key awards include the “Best Savings Product”- an award that has been recognised by the institution for the third year running. The Fixed Rate Savings Account was voted as the best savings account by readers of the MoneyAm publication in 2018; while Aldermore has also won a quality-centric award recognising higher quality service as per Business MoneyFacts (2018).