Tagged: allica bank

March 17, 2024 @ 11:52 pm By Omar Faridi  |  

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

February 15, 2024 @ 10:54 am By Omar Faridi  |  

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

January 19, 2024 @ 8:41 am By Omar Faridi  |  

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

December 19, 2023 @ 11:44 pm By Omar Faridi  |  

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

December 5, 2023 @ 8:11 am By Omar Faridi  |  

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

October 24, 2023 @ 7:34 am By Omar Faridi  |  

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

June 13, 2023 @ 8:50 am By Omar Faridi  |  

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

June 10, 2023 @ 12:28 pm By Omar Faridi  |  

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

May 4, 2023 @ 8:22 am By Omar Faridi  |  

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

September 11, 2022 @ 6:47 pm By Omar Faridi  |  

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

March 19, 2022 @ 11:44 am By Omar Faridi  |  

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

December 9, 2021 @ 7:46 am By Omar Faridi  |  

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

November 24, 2021 @ 8:50 am By Omar Faridi  |  

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

September 17, 2020 @ 9:15 am By JD Alois  |  

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

June 15, 2020 @ 8:06 am By JD Alois  |  

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