Tagged: allica bank

UK’s Allica Bank Introduces Partnerships Team to Focus on Collaborations with Accountancy Firms

Allica Bank – the digital challenger bank built especially for established SMEs – has announced the launch of a new partnerships team, specifically focused on growing its relationships with accountancy firms across the UK. Allica, the business bank, sees accountants as “a vital connection to… Read More

UK’s Allica Bank Reports First Full Year of Profitability

UK’s Allica Bank is pleased to share that their firm achieved their first full year of profitability in 2023. Just three years since Allica Bank opened their doors to lending, it makes them one of the fastest fintechs in the UK to do so, the… Read More

UK’s Allica Bank Teams Up with ClearBank

Allica Bank says it is on a mission to give established businesses in the UK the banking they deserve. Allica Bank explains that it aims to “offer no-nonsense business banking built especially for firms with 5-250 employees, providing dedicated relationship manager support backed up with… Read More

UK’s Allica Bank Announces New Integrations to Help Businesses Streamline Operations

Allica Bank – a digital bank for established businesses with 10 or more employees – has announced partnerships with accounting software platforms Sage and Xero. The direct integrations will mean Allica Bank business current account customers that use Sage and Xero can “have their account… Read More

UK’s Allica Bank Reports Completing £2B of Business Lending

Allica Bank – the fintech challenger bank specifically focused on established businesses with over ten employees – has revealed it has completed more than £2 billion in lending to UK businesses, with 80% of that being to businesses outside of London. Allica bank, which made… Read More

UK’s Allica Bank Reports SME Current Account Switching Reaching Lowest Level in Past 10 Years

SME current account switching is now at the lowest level it’s been in the last decade, according to an update shared by Allica Bank. New data analyzed by Allica Bank reportedly “shows disappointingly low levels of bank switching by small and medium sized businesses over… Read More

Allica Bank, the Fintech Focused on Serving Established UK Firms, Reports 2,000 Business Current Account Clients

Allica Bank – the fintech challenger bank specifically focused on serving established businesses with 10-250 employees – now reportedly has 2,000 business current account customers after launching earlier this year. Compared to the millions of UK microbusinesses, the established SME segment that Allica is dedicated… Read More

UK’s Allica Bank Partners with Wise Platform, the Payment Infrastructure for Major Enterprises

Allica Bank (LSE:WISE) has partnered with Wise Platform, Wise’s global payment infrastructure for banks and major enterprises, in order “to offer our established business customers a simple and low-cost way to send money overseas.” Now clients can seamlessly make and “manage their global payments directly… Read More

UK’s Allica Bank Reveals a “Hidden” £7.5B Per Year Savings Penalty on Hard-Pressed SMEs – Report

Allica Bank claims that it is “exposing” a “hidden” £7.5 billion a year savings penalty on the country’s hard-pressed SMEs – and is calling “on the wider banking industry to give SMEs a better deal.” While the cost-of-living crisis has led to significant pressure on… Read More

UK’s Allica Bank Reports Steady Progress, Claims to be Among Fastest Fintechs to Reach Profitability

Allica Bank claims it is one of the fastest UK fintechs to hit profitability – “becoming monthly profitable in June 2022, less than three years after securing a banking licence – and achieving a £3m pre-tax profit in the second half of the year.” Allica… Read More

Allica Bank, ClearBank to Streamline Business Banking for UK SMEs

ClearBank, the enabler of real-time clearing and embedded banking for financial institutions, today announced its partnership with Allica Bank, the fintech challenger bank dedicated to supporting established UK small and medium businesses. Allica Bank was founded “to serve established UK SMEs (businesses with 10-250 employees)… Read More

UK Fintech Allica Bank Reports Steady Progress in 2022

Allica Bank claims it is one of the “fastest” UK Fintechs to hit profitability – “becoming monthly profitable in June 2022, less than three years after securing a banking license – and achieving a £3m pre-tax profit in the second half of the year.” Allica… Read More

Allica Bank Aims for £500M of Committed Loan Offers between Sept and Year-End

Allica Bank – the bank built specifically to serve the needs of “established” SMEs – is aiming to make £500 million in committed loan offers “between September and the end of the year, as it continues to ramp up its support for UK SMEs facing… Read More

Allica Bank Acquires Over £1B in Deposits from Businesses, Individual Savers

Allica Bank has reportedly secured more than £1 billion in total deposits from businesses as well as individual savers. The key milestone comes after Allica Bank had preformed considerable work to further diversify its deposit-acquring channels. Along with introducing its range of personal and business… Read More

Fintech Savings App Chip Makes Changes to Membership Plans, Gets Ready to Introduce Simple Fee Structure

Chip, the savings app that aims to bring consumers the best rates while automatically building up their savings, has made changes to its membership plans as it focuses on making more of the app free and gets ready to launch a simplified fee structure. Chip,… Read More

AIB to Sell UK Small Business Loan Book to London’s Fintech Challenger Allica Bank

AIB revealed on Tuesday (November 23, 2021) that it has decided to sell its British small business loan book to London-headquartered Fintech challenger Allica Bank. But the £600 million (appr. €715 million) size of the portfolio is considerably smaller than the recently reported £1 billion… Read More

Challenger Allica Bank Looks to Raise £100 Million Following £26 Million Funding led by Warwick Capital Partners

Newly minted SME focused bank, Allica Bank, has closed on a £26 million funding round led by Warwick Capital Partners – the majority shareholder in the firm. This announcement included the news that Allica intends on raising a further £100 million to pursue its vision… Read More

New Challenger Bank Allica Bank Selects Richard Cameron as Head of Asset Finance 

Challenger bank Allica Bank has announced the appointment of Richard Cameron as Head of Asset Finance. Allica Bank seeks to support SMEs. Starting with commercial mortgages, the company’s goal is to provide a full suite of banking services for the underserved SME community. Allica received… Read More

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