Reliance Bank
Reliance Bank is a UK-based specialist ethical bank, founded in 1890 and wholly owned by The Salvation Army, providing current accounts, savings, loans, and mortgages to charities, social-impact businesses, social housing providers, and personal banking customers.
- Company typePrivate
- Founded1890
- HeadquartersLondon, United Kingdom
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Reliance Bank does
Reliance Bank Limited is a UK-based specialist ethical bank, headquartered at Faith House, 23-24 Lovat Lane, London, and wholly owned by The Salvation Army International, which it supports by donating up to 75% of profits to The Salvation Army International Trust. Founded in 1890 by William Booth, founder of The Salvation Army, the bank positions itself as the UK's first ethical bank and provides current accounts, savings accounts, mortgages, and loans across four primary customer segments: charities and faith organisations, social-impact businesses, social housing providers, and personal banking customers (including specialist key-worker and shared-ownership borrowers). Loan products include business loans (£250K-£2.5M, up to 25 years), charity loans (£500K-£3M, up to 25 years), and residential mortgage ranges; the bank also operates a Charity Giving Personal Savings Account that pays a percentage of interest to The Salvation Army.
The bank runs on a modernising technology stack: a multi-language digital banking platform powered by fintechOS, Open Banking APIs exposed via Banfico's Developer and Consent Management Portals, and — announced in May 2026 — a migration from legacy iFinancial Bankware core banking and iBank digital banking systems to Temenos SaaS, including the UK Model Bank with access to 100+ Temenos fintech partners. Supporting integrations include LexisNexis for KYC, TransactPay for card issuance, Zoho Forms for application data capture, Google Analytics for web analytics, and licensed Credit Reference Agencies (Equifax, Experian, TransUnion) for credit checks. The bank is regulated by the FCA and PRA, is an FSCS member with £120,000 deposit protection, and operates exclusively in the UK (excluding the Channel Islands).
The commercial model combines net interest income from lending and deposit-gathering with fee-based business current accounts, distributed through three primary go-to-market motions: dedicated relationship managers for business, charity, and commercial-loan customers; a digital self-service platform for personal and small-business banking; and an intermediary mortgage broker network spanning Tenet Group, Mortgage Brain, and Twenty7Tec. The bank is recognised in the UK charity banking market with first place in the 2025 Charity Finance Banking Survey (and previously 2021) across multiple categories and a 2026 Business Moneyfacts Award finalist spot for Best Business Fixed Account Provider.
Reliance Bank firmographics
Firmographics- Name
- Reliance Bank
- Legal name
- Reliance Bank Limited
- Website
- https://reliancebankltd.com
- Company type
- Private
- Founded year
- 1890
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Reliance Bank is a UK-based specialist ethical bank, founded in 1890 and wholly owned by The Salvation Army, providing current accounts, savings, loans, and mortgages to charities, social-impact businesses, social housing providers, and personal banking customers.
- Ownership category
- akta.pro rank
Reliance Bank industry classification
Industry- Product category
- Ethical Retail Banking
- NAICS
- Depository Credit Intermediation (5221)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)
- akta.pro secondary industries
- Financial Inclusion & Consumer Empowerment (Banking Access, Credit Building) (BPAGALAJ), Private Banking Philanthropy & Impact Advisory (FSABADAJ)
Keywords
Where Reliance Bank is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
Reliance Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Net Interest Income: Interest income from mortgage lending, business loans, and charity loans minus interest paid on deposits. The bank offers competitive lending rates with a base rate of 3.75% effective from 1st February 2026.
- Business Current Account Fees: Free banking for the first 6 months for charity and business current accounts, followed by fee-based services with clear and simple charges. Conditions include keeping account in credit, maintaining average credit balance of £5,000, and no more than 25 transactions per month.
- Profit Donations: Up to 75% of profits donated to The Salvation Army International Trust to support evangelical and charitable work globally. This represents a profit distribution model rather than revenue generation.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | Charity Loans: Lending from £500K to £3M, repayment term up to 25 years, typically up to 65% loan to security value |
| Unit Pricing | Monthly | Business Loans: Lending from £250k to £2.5m, maximum 65% loan to security value, terms up to 25 years |
| Unit Pricing | Monthly | Key Worker Mortgages: 5 year fixed rate, up to 75% and up to 90% LTV options, free basic valuation for First Time Buyers |
| Unit Pricing | Monthly | Shared Ownership Mortgages: Buy 25-75% of property, lend up to 95% of owned share, borrow £50,000-£500,000 |
| Subscription | Monthly | Business Current Account: Free for first 6 months, then fee-based with conditions |
Go-to-market motion4 records
Distribution channels4 records
Marketing channels5 records
Reliance Bank product offering
Product offeringCore offering
Reliance Bank provides a range of banking products and services in the UK including business and charity current accounts, fixed term and notice savings accounts, business and charity loans, personal current and savings accounts, and residential mortgages (including specialist Key Worker and Shared Ownership products). The bank operates a multi-language digital banking platform for self-service and relies on dedicated relationship managers for tailored commercial and charity lending.
Product overview
Reliance Bank offers a comprehensive suite of banking products and services as a UK-based ethical bank owned by The Salvation Army. The product portfolio includes Business Banking (current accounts, fixed term savings, business loans, notice savings accounts), Personal Banking (current accounts, savings accounts including the unique Charity Giving savings), Charity Banking (faith and charity current accounts, charity loans ranging from £500K to £3M), and Residential Mortgages (including specialized Key Worker Mortgage products with 5-year fixed rates up to 90% LTV, and Shared Ownership Mortgages). The bank operates a Digital Banking platform powered by fintechOS and has migrated its core banking infrastructure to Temenos SaaS for enhanced digital capabilities.
Differentiator
Problem solved
Functional benefit
Products and services
- Business Current Account Current account for business and charity customers with free banking for the first 6 months under specified conditions (keeping account in credit, average credit balance of £5,000, no more than 25 transactions per month).
- Business Fixed Term Savings Accounts Fixed term savings accounts for businesses offering competitive interest rates over defined deposit terms.
- Business Loans Term loans and commercial mortgages for business expansion and working capital, focused on social impact organizations. Lending from £250,000 to £2.5 million with repayment terms up to 25 years and a maximum 65% loan-to-security value.
- Personal Current Account Current account for personal banking customers.
- Charity Giving Personal Savings Account Unique personal savings account that pays a percentage of the advertised interest rate to The Salvation Army while the account holder earns interest on their savings.
- Personal Fixed Term Savings Accounts Fixed term deposit savings accounts for personal customers.
- Charity Current Account Current account designed for registered charity organizations.
- Faith Current Account Current account designed for faith organizations and communities including churches and religious orders.
- Charity Loans Loans for charities and social enterprises providing lending from £500,000 to £3 million with repayment terms up to 25 years, typically up to 65% loan-to-security value.
- Key Worker Mortgage Product Range Specialist mortgage products for key workers including 5-year fixed rate options with up to 75% and up to 90% LTV options, designed to support homeownership among essential workers. Enhanced in 2021 with new 2-year fixed rate 90% LTV options.
- Shared Ownership Mortgages Mortgages enabling buyers to purchase between 25% and 75% of a property, with lending up to 95% of the owned share and amounts between £50,000 and £500,000. Includes 2 year and 5 year fixed rate options.
- Residential Mortgages Full range of residential mortgages including Key Worker Mortgages, Shared Ownership Mortgages, first-time buyer, remortgage, and home mover products. Distributed via intermediary partners including Tenet Group, Mortgage Brain, and Twenty7Tec.
- Digital Banking Platform Online and mobile banking platform provided through fintechOS and migrated to Temenos SaaS, enabling customers to manage accounts, conduct transactions, and access banking services digitally with multi-language support.
Quantifiable outcome
- First place overall for customer satisfaction in 2025 Charity Finance Banking Survey, outperforming high street banks
- +2 more outcomes
Companies that use Reliance Bank
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles5 records
Reliance Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
Feature3 records
Reliance Bank partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core.
- TemenoscoreReliance Bank selected Temenos SaaS to power its digital transformation, migrating from legacy mainframe systems (iFinancial's Bankware core banking and iBank digital banking platform) to Temenos' cloud-based core banking, digital, and payments services. The implementation leverages Temenos' UK Model Bank with pre-configured local market capabilities.
- Mortgage BraincoreReliance Bank joined Mortgage Brain's lender panel, enabling mortgage intermediaries using the Mortgage Brain platform to view and source Reliance Bank's mortgage product range.
- Tenet GroupcoreTenet Group partnership enables Reliance Bank's mortgage products to be available to Tenet's network of mortgage advisers. This intermediary partnership helps improve Reliance Bank's intermediary distribution within the mortgage market, providing advisers access to a lender with a social conscience.
- Twenty7TeccoreFollowing a successful pilot, Reliance Bank was added to Twenty7Tec's APPLY module on the CloudTwenty7 platform. This enables mortgage intermediaries to submit decisions in principle or full mortgage applications to Reliance Bank without re-keying.
- The Salvation Army InternationalcoreThe Salvation Army International is Reliance Bank's sole shareholder. Reliance Bank donates up to 75% of its profits to The Salvation Army International Trust to support evangelical and charitable work globally. The bank was founded by William Booth, founder of The Salvation Army, in 1890.
Scale indicators5 records
Recent moves7 records
Expansion highlights6 records
Reliance Bank competitors and assessment
Company assessmentBroad incumbents
- Metro Bank: UK challenger bank offering relationship-led personal and business banking. Metro Bank is a broad incumbent peer given Reliance Bank's former Head of Customer Experience joined from Metro Bank, and both compete for UK SME and personal customers seeking service differentiation from high-street giants.
- The Co-operative Bank: UK high-street bank built around an ethical policy approved by customers. It is a broad incumbent peer to Reliance Bank in ethical banking, with similar positioning on ESG credentials and ethical values, but a much larger retail franchise.
- Aldermore Bank: UK challenger bank focused on SMEs, mortgages, and savings. Aldermore is a broad incumbent peer to Reliance Bank in the UK specialist lending and savings space, with a larger balance sheet but similar target on underserved SME and professional segments.
- Paragon Bank: UK specialist bank offering savings, buy-to-let, and commercial lending. Paragon is a broad incumbent peer in UK specialist retail and SME banking, with overlapping deposit-gathering and commercial mortgage products serving similar professional and SME customer segments.
Direct peers
- Charity Bank: UK ethical bank specifically serving charities, social enterprises, and community organisations. Charity Bank is the closest direct peer to Reliance Bank, with an almost identical mission-driven deposit-and-loan model focused on the third sector.
- Ecology Building Society: UK building society lending only on properties that meet ecological and sustainability criteria. Ecology is a direct peer in the UK ethical-finance niche, with a comparable mission-driven lending model and similar customer segment overlap (mission-aligned borrowers).
- Triodos Bank UK: European ethical and sustainable bank operating in the UK with a similar values-led proposition. Triodos is a direct peer given its parallel focus on lending only to organisations with positive social, cultural, or environmental impact, competing for the same charity and social-enterprise customer base.
Regional players
- Cumberland Building Society: UK regional building society offering savings and mortgage products with a regional (Cumbria/North West) focus. Cumberland is a regional peer given its comparable mutual-style deposit-gathering and mortgage origination, though it serves a more limited geographic footprint than Reliance.
- Cambridge Building Society: UK mutual building society offering savings and mortgages with a regional focus. Cambridge is a regional peer comparable to Reliance Bank on mutual/mission-led deposit-gathering and mortgage origination, but operating on a more limited geographic footprint.
Emerging players
- Unity Mutual: UK mutual society providing savings products and ethical investments. Unity Mutual is an emerging player peer to Reliance Bank in the social-purpose deposit-gathering space, competing for values-aligned personal savers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Reliance Bank social profiles
Digital presenceReliance Bank compliance and trust
Trust signalCompliance5 records
Reliance Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Reliance Bank leadership team
Management profileNumber of profiles
Profiles6 records
Reliance Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Reliance Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Reliance Bank
What does Reliance Bank do?
Reliance Bank provides a range of banking products and services in the UK including business and charity current accounts, fixed term and notice savings accounts, business and charity loans, personal current and savings accounts, and residential mortgages (including specialist Key Worker and Shared Ownership products). The bank operates a multi-language digital banking platform for self-service and relies on dedicated relationship managers for tailored commercial and charity lending.
Is Reliance Bank a public or private company?
Reliance Bank is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Reliance Bank founded?
Reliance Bank was founded in 1890. It employs 11 to 50 people.
Where is Reliance Bank based?
Reliance Bank is headquartered in London, United Kingdom, in the Europe region.
How does Reliance Bank make money?
Three revenue lines are on record. Net Interest Income is the primary driver. The others are business Current Account Fees and profit Donations.
Who are Reliance Bank's main competitors?
Broad incumbents on record are Metro Bank, The Co-operative Bank, Aldermore Bank and Paragon Bank. Direct peers are Charity Bank, Ecology Building Society and Triodos Bank UK. Regional players are Cumberland Building Society and Cambridge Building Society. Unity Mutual is listed as an emerging player.
Does Reliance Bank have an API?
Yes. Reliance Bank offers Open Banking APIs through its Developer Portal, enabling registered developers and third-party providers to access banking services. The Developer Portal is available at https://developer.reliancebank.banfico.io/ and a Consent Management Portal is available at https://consent.reliancebank.banfico.io/. Quarterly statistics on API availability and performance are published. Developer documentation is at developer.reliancebank.banfico.io.
What industry is Reliance Bank in?
Reliance Bank's product category is Ethical Retail Banking. Its primary akta.pro industry code is FSABABAC, SME Deposits & Business Accounts (Operating, Savings, CDs), with a secondary code of BPAGALAJ, Financial Inclusion & Consumer Empowerment (Banking Access, Credit Building). Its NAICS code is 5221 and its SIC code is 6022.