Exploring how Allica Bank’ s tech-driven approach fills a critical gap in the UK’ s SME business banking sector
ALLICA BANK
Exploring how Allica Bank’ s tech-driven approach fills a critical gap in the UK’ s SME business banking sector
In the shadow of consumerfocused fintechs and corporate banking giants, a significant segment of the UK economy has been quietly underserved. Richard Davies, CEO of Allica Bank, is on a mission to change that by creating a financial institution specifically designed for established small and medium-sized enterprises( SMEs).
Since obtaining its banking licence in late 2019 and making its first loan just as COVID-19 hit in March 2020, Allica Bank has experienced rapid growth.
This success has been recognised through multiple industry accolades, Allica Bank’ s CEO explains.
“ We are the fastest growing company over the last four years in the UK,” Richard notes.“ We won the Deloitte UK Fast 50 in both 2023 and 2024 and the Sunday Times 100 announced us in the top position in June last year.”
This remarkable trajectory is even more impressive considering the challenging economic environment during the bank’ s formative years.
While many businesses were struggling to survive during the pandemic, Allica was laying the foundation for what would become one of the UK’ s fastest-growing financial institutions.
Richard, who took the helm as CEO during 2020, brings a unique blend of experience that has proven invaluable for Allica’ s mission.
“ We are the fastest growing company over the last four years in the UK”
RICHARD DAVIES, CEO, ALLICA BANK
50 May 2025