Allica Bank

Who is Allica Bank?

Allica Bank is a UK-based, private limited bank that specializes in providing financial services to small and medium-sized enterprises (SMEs). Established on 15 July 2011, Allica Bank was officially granted its UK banking license in September 2019 and has since expanded rapidly.

The bank focuses on delivering modern, customer-friendly banking solutions tailored to meet the needs of growing businesses. With an emphasis on collaboration, integrity, delivery, and straightforwardness, Allica Bank has become a trusted financial partner for many UK businesses.

Allica Bank differentiates itself from traditional banks by offering a digital-first approach while maintaining personalised service through dedicated relationship managers.

It combines the benefits of a fintech startup with the security and stability of a fully licensed UK bank. The bank’s mission is to empower SMEs with the tools, expertise, and financing solutions they need to thrive in a competitive market.

Who Are the Key People Behind Allica Bank?

Allica Bank operates under the leadership of experienced professionals in the financial industry. The board of directors includes:

• Richard Davies – Director (Appointed: 1 September 2020)
• Tracy Dunley-Owen – Non-Executive Director (Appointed: 1 November 2024)
• James Benjamin Heath – Director (Appointed: 17 October 2017)
• Rajan Kapoor – Director (Appointed: 12 November 2018)
• Patrick John Magee – Director (Appointed: 1 May 2023)
• John Neil Maltby – Director (Appointed: 1 September 2019)
• Paul Martin Marston – Director (Appointed: 1 August 2018)
• Patrice McDonald Pryer – Director (Appointed: 16 May 2017)
• Catharine Nicola Valdar – Secretary (Appointed: 16 October 2018)

The leadership team brings decades of experience in banking, finance, and business strategy, ensuring that Allica Bank remains at the forefront of innovation while maintaining sound financial management.

What are Allica Bank’s Financial Strengths?

Allica Bank has experienced significant growth, including major milestones such as:

• Receiving backing from TCV, a prominent investor known for supporting companies like Netflix, Airbnb, and Spotify.
• Surpassing £2 billion in lending to UK businesses.
• Achieving profitability within three years of launching full-scale operations.
• Expanding its financial product portfolio to cater to a broader range of business needs.

The bank’s rapid growth and strong financial backing position it as a reliable and competitive option for SMEs looking for tailored banking solutions.

What is the History of Allica Bank?

Allica Bank has evolved significantly over the years to become a trusted financial partner for UK businesses. The bank’s journey includes several key milestones:

• 2011: Incorporated as Civilised Investments Ltd, marking the initial phase of its financial services journey.
• 2017: Rebranded as Civilised Bank Limited, signifying a shift towards a structured banking approach.
• 2018: Further rebranded as Allica Limited, setting the stage for its future as a challenger bank.
• 2019: Officially became Allica Bank after securing a UK banking license, enabling it to offer regulated financial products and services.
• 2020-2024: Rapid expansion, including backing from TCV, surpassing £2 billion in lending, and achieving profitability within just three years.

Allica Bank has positioned itself as a bridge between traditional banks and modern fintech, focusing on the underserved SME market and ensuring that businesses have access to tailored financial solutions.

What Services Does Allica Bank offer?

Allica Bank offers a range of financial products tailored to meet the needs of SMEs, including:

Business Savings Accounts

Business Current Account

• No monthly fees
• Earn up to 4.83% AER (variable) interest in an attached Savings Pot
• Earn up to 1.5% cashback on all eligible card spend
• Dedicated relationship manager and UK-based customer support
• FSCS protection for eligible deposits

Commercial Mortgages

• Borrow between £150k and £10m
• Finance property purchases or refinance existing mortgages
• Up to 70% loan-to-value (LTV)
• Competitive interest rates and flexible repayment terms

Asset Finance

• Borrow between £25k and £1m
• Finance equipment purchases or refinance existing debt
• Repayment terms up to 7 years
• Helps businesses acquire essential tools, machinery, and vehicles without depleting working capital

Why Choose Allica Bank?

Allica Bank offers a unique combination of digital convenience and personalised service, making it the preferred choice for SMEs in the UK. Key reasons to choose Allica Bank include:

• Tailored for SMEs: Unlike traditional banks, Allica Bank is built specifically to support growing businesses with customised financial solutions.
• Strong financial backing: Supported by TCV, a major investor in high-growth companies, ensuring long-term stability and expansion.
• Competitive rates: Provides some of the best interest rates for business savings accounts and commercial financing.
• FSCS Protection: Eligible deposits are safeguarded up to £85,000 under the Financial Services Compensation Scheme (FSCS).
• Dedicated relationship managers: Offers personalised support from UK-based financial experts who understand the needs of SMEs.
• Advanced digital banking: Combines technology and human expertise to provide a seamless, efficient banking experience.
• Proven track record: Achieved profitability in under three years, demonstrating financial stability and business success.

Contact Information

• Website: www.allica.bank
• Head Office: 4th Floor, 164 Bishopsgate, London, EC2M 4LX, UK
• Milton Keynes Office: 100 Avebury Blvd, Milton Keynes, MK9 1FH, UK
• Customer Service Phone: 0330 094 3333
• Operating Hours: Monday to Friday, 9:30 AM – 5:00 PM

For businesses looking for a modern, trustworthy, and customer-centric banking partner, Allica Bank stands out as a leading choice in the UK’s SME banking sector.