Allica Bank

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Overview

Allica Bank is a UK digital bank for established small and medium-sized businesses, operated by Allica Bank Limited, which holds a full UK banking license [1, 2]. Allica targets the "underserved" mid-market of established SMEs (those with employees and turnover, rather than micro-startups), offering business current accounts, savings, asset finance and commercial mortgages, combining digital tools with relationship managers. It is among the faster-growing and profitable UK challengers.

History

2019-2020 — Banking license + launch [1, 2]: Allica received its UK banking license (2019) and began serving established SMEs.

2021 — Acquired AIB's GB SME lending book [2]: Allica acquired part of Allied Irish Banks' GB SME business-lending portfolio, accelerating scale.

2022-2024 — Rapid growth + profitability [2]: Allica reported strong lending and deposit growth, reaching profitability and ranking among the UK's fastest-growing fintechs.

Ownership & operator

Operating entity: Allica Bank Limited (UK).

CEO: Richard Davies [2].

Major investors: Warwick Capital Partners, TCV, Atalaya Capital Management and others [2].

Regulators: FCA + PRA (UK); deposits FSCS-protected.

Technical integration

Layer	Description
Channels	Allica web + mobile app + relationship-manager model
Identifiers	Email + sort code + account number
UK rails	Faster Payments + BACS + CHAPS
Products	Business current account, business savings, asset finance, commercial mortgages, business loans
Distinctive	Targets established SMEs with employees + turnover; "relationship + digital" hybrid

Implementations & partners

Operator: Allica Bank Limited (FCA + PRA-regulated UK bank).

Acquisition: Part of AIB's GB SME lending book (2021) [2].

Competitors: [[oaknorth]] (UK SME lender), [[starling]] (SME banking), Tide, traditional UK business banks (NatWest, Lloyds, Barclays, HSBC).

Status

Active + profitable [1, 2]:

Allica Bank Limited — full UK banking license since 2019.
Digital bank serving established SMEs with lending, deposits and asset finance.
Precise current customer/financial metrics not consistently disclosed in verifiable form (~).

Sources

Source

Biography extracted from allica-bank.md. See matrix.md for standards-support matrix if present.