News Alternative Lending

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

The cloud banking platform enabled Allica to offer loans within months.

a hand holding a blue card

Richard Morgan & Richard Davies.

Fintech challenger bank Allica has now gone live on the cloud banking platform Mambu.

The platform is supporting Allica in bringing “bespoke lending products” that are specifically designed with small and medium-sized businesses in mind, according to the company.

Catering for established SMEs in the UK, and having purchased Allied Irish Bank’s GB SME customers last November, Allica is using the platform to help offer loans quickly.

It is also reintroducing “tech-savvy relationship managers” to improve customer experience.

“Left unaddressed,SME demand for digital-age lending represents a huge missed opportunity for banks and lenders,” Mambu general manager for the UK and Ireland Richard Morgans said.

“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.”

With Mambu’s technology stack, Allica was able to offer loans to its acquired customers 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,” Allica Bank CEO Richard Davies said.

“Our implementation involved greenfield and migration elements and a very complex loan portfolio, yet it took only three months to complete.”

Companies In This Article

logo
COMPANY801-mambu.png

People In This Article

More Like This