The APPG for Challenger Banks and Building Societies is delighted to announce that Allica Bank is the latest challenger bank to join as an Associate Member of the Group.

The APPG is a cross-party group of MPs and Peers that seeks to inform parliamentarians about challenger banks and building societies , the issues and challenges facing them, and to promote competition and diversity within the banking sector.

Allica Bank is one of the UK’s top fintechs dedicated to serving SME businesses, with a focus on reimagining relationship banking for SMEs, by combining modern, powerful technology with local relationships in the community.

As the APPG’s latest Associate Member, Allica will be sponsoring the APPG’s Annual Reception which will be held in Parliament on Tuesday 29th March 2022.

Allica will also be contributing to an exciting programme of work that the APPG has coming up in 2022, which will include taking a closer look at issues around the impact of COVID-19, green finance, and the levelling up agenda.

 

APPG Chair Rt Hon Karen Bradley MP commented:

“I’m delighted to welcome Allica Bank as our latest Associate Member of the APPG and for their support of both our annual reception and our exciting future work programme.

“Allica join us at a moment of great challenge but also great opportunity for the challenger bank sector. After a busy 2021, which has seen the APPG publish a number of reports, we have even more exciting activity in the pipeline for 2022.

“The APPG we will strive to continue to highlight the issues that challenger banks and building societies face in the current market and to make the marketplace more diverse and competitive for the benefit of consumers and the wider economy.

“Allica Bank’s support and their contributions to the future work of the group will be a huge asset to us and I look forward to working with Richard and his team in the coming months.”

 

Richard Davies, CEO of Allica Bank added:

“We are delighted to join the APPG for Challenger Banks and Building Societies and proud to be supporting its important work highlighting the importance of delivering a more diverse financial services market in the UK.

“It is vital we deliver more competition and choice for customers and clients in the UK banking market. The UK is a hot bed for fintech and financial services innovation, but there is still more to be done to ensure new entrants and challengers operate on a truly level playing field with the big 5 incumbent banks, and the APPG’s is critical to raising awareness and understanding of that important agenda.”

 

ENDS

 

Notes to editors

 

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