Allica Bank Selects SaaScada to Deliver Innovative Products to its Customers
Cloud-native platform provider SaaScada will help Allica Bank continue its growth in the mainstream banking market.
19 January 2022, London. SaaScada, the leading new core banking platform and services provider announces that it has been selected to support the launch of Allica Bank’s new product range in the SME banking sector.
Established in 2019, Allica Bank is a leading fintech challenger bank, dedicated to providing a full range of credit and payment services to established, growing SMEs – combining proprietary technology and experienced local relationship managers to provide great customer experience. Allica Bank has seen strong growth in 2021, recently announcing a £110m funding round and portfolio acquisition of circa 2000 of AIB’s GB customers. Allica is set to launch its first payment product in early 2022.
Allica Bank selected SaaScada because of its unique intelligent banking platform that provides new entrants with flexibility as they scale and grow. The data-rich SaaScada platform will empower Allica Bank with the ability to deliver products tailored to its customers’ needs based on their real time transaction activity. One of these innovative products is a business payment account with unique features that will support Allica Bank’s strategy in addressing the needs of the SME market.
Toby Mason, Chief Operating Officer, Allica Bank said “After a rapid year of growth in 2021 for Allica, we’re really excited about our product roadmap in 2022, which sees us expand our offering – including launching our first payment account for SMEs. We’re delighted to be partnering with SaaScada who are helping us bring this vision to life, by enabling us to build and launch innovative products at pace and scale.”
Nelson Wootton, Chief Executive Officer, SaaScada said “With the SaaScada platform, Allica Bank is able to rapidly launch new products and services and deliver a leading digital experience to its SME customers. Our low-cost platform is highly secure and data rich. Its rapid speed to market ensures that Allica Bank can test new offerings, and quickly adapt or add additional products to provide a first-class service that best suits every individual customer.”
SaaScada helps organisations to rapidly build and launch financial services using their cloud-based core banking platform, enabling any type of organisation to launch banking services.
About Allica Bank
Recently named by The Times newspaper as one of the UK’s Top 20 financial technology (fintech) companies, Allica Bank is dedicated to serving and supporting small and medium businesses and empowering them to succeed. Allica combines modern, powerful technology with local relationships in the community to deliver expert banking for businesses in Britain.
Allica received its full banking authorisation in September 2019 and opened its doors to SME lending in March 2020. The bank offers businesses market-leading lending products including commercial mortgages and asset finance, as well as a range of business and retail savings products and services, with plans to launch a new SME business account in 2022.
Allica Bank received full banking authorisation in September 2019 and is authorised by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register Number – 821851.
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