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Allica Bank Unveils Profitability and High-Yield Savings Amid Expansion
Fintech challenger Allica Bank has rewarded savers with a 5% return on its 12-month fixed-rate bond personal savings account. The bank responded to the Bank of England’s base rate change with a market-leading offer for its personal customers, showing resilience and adaptability in a competitive market.
Recently, Allica reported its 2022 annual results, marking its entry into profitability. This milestone makes it one of the fastest fintech companies to achieve such a feat, a testament to its innovative approaches and robust business model.
In a bold move, Allica launched a proprietary new business current account – the Business Rewards Account. This launch uniquely positions Allica as the UK’s only full-service bank dedicated to serving established Small and Medium Enterprises (SMEs). This initiative underscores Allica’s commitment to supporting the growth of SMEs, a sector often overlooked by conventional banking institutions.
Further, Allica offers a mix of market-leading, straightforward, and secure personal and business savings accounts. These products are designed with no-faff, simplifying banking and making it more accessible for users. The offering includes a 95 and 180-day notice account, as well as 6, 12, and 24-month fixed-rate accounts.
Allica’s robust banking suite has not only made it a go-to destination for SMEs but also a trusted provider of secure, high-yield savings options for individuals. The bank’s innovation, dedication to its customers, and its swift entry into profitability make it a formidable player in the fintech industry.
Companies In This Post
- EXCLUSIVE: “Getting the Message” – Raj Soni and Egill Ingólfsson, Meniga and Michal Panowicz, BCG in ‘The Fintech Magazine’ Read more
- Embedded Finance & Virtual Cards: payabl.’s Breno Oliveira on Building Smarter B2B Payments Read more
- The Tech Capital Expands Global Reach with Launch of LATAM Finance Forum Read more
- How Are Build-vs-Buy Decisions Shaping the Future of Payments? | Volante’s Nihit Ahuja and NatWest’s Lee McNabb Read more
- Why Customers Trust Bueno | Felix Hughes, Director at Bueno Read more
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Treasury Prime Partners With People Trust to Advance Financial Inclusion via Embedded Banking
Treasury Prime, a leading embedded banking software company, announced today that People Trust Community FCU, a mission-driven financial institution based in North Little Rock, Arkansas, has joined the Treasury Prime Bank Network. As Treasury Prime’s first credit union partner, this milestone is a pivotal step in expanding access to embedded banking for community-based institutions.
EXCLUSIVE: “Getting the Message” – Raj Soni and Egill Ingólfsson, Meniga and Michal Panowicz, BCG in ‘The Fintech Magazine’
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Embedded Finance & Virtual Cards: payabl.’s Breno Oliveira on Building Smarter B2B Payments
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The Tech Capital Expands Global Reach with Launch of LATAM Finance Forum
The Tech Capital, a leading voice in digital infrastructure intelligence, is announcing the launch of its LATAM Finance Forum, scheduled to take place on July 3, 2025, in the vibrant metropolis of São Paulo, Brazil. This event marks a significant milestone in The Tech Capital’s mission to foster global dialogue and innovation in the digital infrastructure sector.
How Are Build-vs-Buy Decisions Shaping the Future of Payments? | Volante’s Nihit Ahuja and NatWest’s Lee McNabb
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Why Customers Trust Bueno | Felix Hughes, Director at Bueno
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Stripe Will Help Millions of Shopify Merchants to Accept Stablecoin Payments
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EXCLUSIVE: “Open Dialogue” – James Hill, Flexys in ‘Discover Money20/20’
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