Britain’s first bank to be launched in the cloud does not use automated credit scores, does not have an automated answering service or an online chatbot, and doesn’t keep customers waiting on hold when they call the bank.

Redwood Bank, which serves small to medium-sized businesses, balances traditional banking values with advanced technology. Its mission is “to be the UK’s best, go-to, specialist business bank.”

In 2021, four years after it obtained its banking licence, Redwood became one of the fastest challenger banks to achieve profitability, while building a strong internal culture and winning high satisfaction scores from its employees and customers.

CEO and co-founder Gary Wilkinson describes the journey and the insights it yielded, in this episode of The Purposeful Strategist.