Allica Bank goes live on Mambu to boost UK’s MSMEs

By Leandra Monteiro

Allica Bank, the FinTech challenger bank for established SMEs in the UK, announced their successful go-live on cloud banking platform, Mambu.

The platform supports Allica in bringing customised lending products, tailored to the needs of small and medium-sized businesses and reintroduces tech-savvy relationship managers to enhance customer experience.

In November 2021, Allica announced a purchase of Allied Irish Bank’s GB SME customers, which brought with it a complex loan portfolio. Allica needed a technology solution to help them offer the loans to customers in a matter of months and that’s where Mambu’s composable technology foundation came in.

Richard Morgans, General Manager for the UK and Ireland at Mambu said, “Left unaddressed, SME demand for digital-age lending represents a huge missed opportunity for banks and lenders. Financial institutions need to do more to tackle challenging application processes for loans, and Allica Bank is playing a key role in doing exactly that.

“Through a combination of in-house expertise and Mambu’s composable technology stack, Allica has been able to expedite the delivery of a complex loan portfolio at impressive speed.”

Richard Davies, Chief Executive Officer at Allica Bank said, “As a fintech, technology is at our core. Whilst we’re focused on building a lot of our own technology solutions, we were presented with a unique opportunity after acquiring a £600 million loan portfolio from AIB. We needed the ability to offer customers complex loan products in a matter of months.

Being cloud native, Mambu and its composable architecture gave us the flexibility needed to seamlessly integrate with Allica’s cloud-led tech stack. Our implementation involved greenfield and migration elements and a very complex loan portfolio, yet it took only three months to complete. The partnership and collaboration between Allica and Mambu teams at every level, has been a key success factor”

As a result of Allica Bank going live on Mambu, Allica were able to support the acquired customers with a complex offering of loans in a matter of months.