What the FinTech? | S.5 Episode 18 | Tech innovation in business banking with Allica Bank
In this podcast episode, we chat with Ravneet Shah, CTO of UK-based SME banking challenger Allica Bank.
In this podcast episode, we chat with Ravneet Shah, CTO of UK-based SME banking challenger Allica Bank.
Tuscan Capital provides short-term property finance to investors, developers and businesses.
Allica Bank’s Mitch Trehan discusses the key drivers behind the bank’s latest revenue growth.
Allica says it has experienced a 75% increase in customer deposits to £2.6 billion.
The partnership will enable Allica’s business customers to make “transparent and low-cost” international payments.
ClearBank provides Allica with client money accounts and access to UK payment schemes.
Hear from Allica Bank and tbi bank on mitigate risk, grow revenue, and improve the banking experience.
With Confirmation of Payee, Allica customers will be protected from fraud and misdirected payments.
The letter has been co-signed by Codat, Atom Bank, Funding Circle, Iwoca, Allica Bank, SPRK Capital and others.
Allica says the cash will allow it to “scale rapidly and accelerate its disruptive impact in the UK SME market”.
Banks are increasingly interested in partnering with B2B fintechs to enable quicker digital transformation.
Find your next fintech career move on the FinTech Futures job board today.
The total funding raised by Allica Bank now stands at £285 million.
Allica Bank is live with Mambu’s core, while Plazo will use the vendor’s tech to support its lending business.
SaaScada’s tech will support Allica Bank’s new product range for SMEs.
The cash will go towards enhancing Allica’s proprietary technology and client support.
Deal will bring the challenger bank around 2,000 SME customers.
“The decline of branches is synonymous with decline of relationship banking,” says CPO.
UK challenger plans for future growth and acquisitions.
Davies says his departure is on good terms.
FMS.next and RiskAvert deployed at SME challenger bank.