Allica Bank chooses Mambu to supercharge UK’s SMEs.
The collaboration between Allica and Mambu allows the bank to bring bespoke lending products tailored to the needs of small and medium-sized businesses, and reintroduce tech-savvy relationship managers to enhance the customer experience.
About the customer
Despite representing 30% of the UK’s GDP, the established SME sector has been left behind by traditional banks and overlooked by newer monoline fintechs. Allica Bank is positioned to build and deliver products and services to directly address this challenge.
Allica Bank was granted its UK banking licence in September 2019, and has grown quickly since then. The bank has offices in Milton Keynes and London, and a team of expert relationship managers out on the road across England, Scotland and Wales, providing personal support to small and medium-sized businesses in their local communities.
Allica Bank has been built especially to serve established SMEs. The bank combines modern tools and technology with having feet on the ground in local communities.
“As a fintech, technology is at our core. With our acquisition of AIB’s portfolio, we needed the ability to migrate a wide range of complex loan products at pace. To achieve this, we decided to combine Mambu’s loan ledger with our in-house engineering to deliver the breadth of capabilities needed. Being cloud native, Mambu and its composable architecture gave us the foundation needed to seamlessly integrate with Allica’s own proprietary applications in our cloud based tech stack.”
- Richard Davies Chief Executive Officer Allica Bank
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