Breaking News
Allica Bank Completes £5.85 Million Bridging Facility and Celebrates Record Month for Bridging Finance
Allica Bank has completed a £5.85 million bridging facility to support the acquisition of a prime London asset, underlining a benchmark month for the bank’s bridging team.
The facility, introduced by Arc & Co, was secured against an office building in Marylebone with planning consent for six luxury apartments. The borrower, who met Allica at MIPIM, required an urgent completion within 18 days after being let down last minute by another lender. Allica delivered the six-month term within the timeframe.
This transaction reflects Allica’s commitment to providing fast, flexible lending solutions for established businesses and their brokers. Together, Arc & Co and Allica have proven how a strong broker-bank relationship can support smooth execution. “In these difficult, uncertain economic times, it was great to deal with a funder who did exactly what they said they would do.” said the borrower.
In addition to this milestone, Allica’s bridging finance proposition experienced a record-breaking April, as the team reached all-time highs in terms of lending and new introductions. The team also saw a spike in new business enquiries and completions. A significant number of bridging clients also transitioned to Allica Bank’s commercial mortgage product, highlighting the strength of the bank’s end-to-end offering.
Steve Palfreeman, Business Development Director – Bridging at Allica Bank, said: “This deal is short term bridging finance at its best. Getting this executed in such a tight timeframe required a real team effort from all parts of the bank, in particular, Jade Lidiard who was the underwriter on this case.”
“April being a record month for the team is testament to their determination, commitment to service and the growing market for flexible, relationship driven commercial lending in this space. There is huge appetite for lending at Allica Bank, especially in circumstances such as this where a strong sponsor found themselves let down at the last minute. In these instances, we are able to move incredibly quickly and make a deal happen thanks to our expert team. This is an incredible project and I look forward to seeing how it progresses now that it is on firmer financial footing.”
Cameron Hayes, broker at Arc & Co, added: “It’s great to get this one funded with Allica. Arc & Co were keen to rely on a party that can deliver, and as execution is key in the current market, we’re pleased to get another deal across the line with Steve, Jade and the team.”
This landmark deal and strong monthly performance come just months after Allica’s bridging product was relaunched, following the strategic acquisition of Tuscan in 2024. The bank’s refreshed proposition is focused on providing brokers and borrowers with speed, flexibility and the certainty they need in today’s market.
People In This Post
Companies In This Post
- What Are Some Emerging Trends in APAC? | FF News at Money20/20 Asia 2025 Read more
- EXCLUSIVE: “Private Banking for All” – Hylton Kallner, Discovery Bank in ‘The Fintech Magazine’ Read more
- Temenos Strengthens Product Leadership With Key Appointments Read more
- ACI Worldwide Recognized as Leading Provider of Fraud Orchestration Solutions by Datos Insights Read more
- Four in Ten British Businesses Would Adopt Open Banking for Increased Security Benefits, but Are Held Back by Lack of Understanding Read more
Norli Liv & Pension Modernizes Investment Operations with Clearwater Analytics
Clearwater Analytics (NYSE: CWAN), the most comprehensive technology platform for investment management, today announced that Danish pension provider, Norli Liv & Pension, part of the Norli group, has partnered with Clearwater to modernize its investment accounting, reporting and compliance operations.
Glia Named a 2025 Best Place to Work in Fintech by American Banker for Fourth Consecutive Year
Glia, the leader in AI for customer interactions, has been named among the 2025 Best Places to Work in Financial Technology by American Banker — for the fourth consecutive year.
Sagic Partners With Smart Money People to Strengthen Customer Feedback Approach
Smart Money People, the UK’s most comprehensive financial service review site, has announced a partnership with The Salvation Army General Insurance Corporation (Sagic), an ethical general insurance provider with a 116-year heritage.
Endava and AlixPartners Announce Partnership to Accelerate Digital Transformation
Endava, the technology-driven business transformation group whose AI-native approach combines cutting edge technology with deep industry expertise, and global consulting firm, AlixPartners, today announced their strategic partnership aimed at delivering comprehensive, end-to-end technology-driven solutions for clients globally. This partnership between Endava and AlixPartners leverages complementary strengths to deliver innovative solutions, accelerate digital transformation and address complex client challenges. It combines AlixPartners’ extensive experience in industry-focused, operational consulting with Endava’s deep technical expertise – in AI, cloud adoption, data analytics and more – to ensure seamless project delivery. This approach allows businesses to move faster, reduce risk, and address challenges more effectively, all while staying focused on their broader goals.
Clearstead Expands Partnership With GLASfunds to Enhance its ClearAccess Private Markets Investment Platform
Clearstead, a large financial advisory firm serving wealthy families and institutions; and GLASfunds, an alternative investment platform for financial advisors; today announced significant enhancements to Clearstead’s private market investments platform ‘ClearAccess.’
Rich Data Co Becomes RDC.AI, Marking a New Era in Business and Commercial Credit Decisioning
Leading provider of AI-driven credit decisioning solutions Rich Data Co (RDC) today announced its rebrand to RDC.AI, marking a significant milestone in the company's evolution and commitment to leveraging artificial intelligence (AI) to transform business and commercial lending.
Four in Ten British Businesses Would Adopt Open Banking for Increased Security Benefits, but Are Held Back by Lack of Understanding
42% of British businesses are keen to integrate open banking into their operations citing the potential benefits of increased security and fraud prevention. This comes as a study by Payit, NatWest’s open banking payment solution, found that one in five (22%) businesses spend more than 6 hours per month managing and storing sensitive customer information, such as card details. And with open banking solutions, they could use this time to build and grow their business.
What Are Some Emerging Trends in APAC? | FF News at Money20/20 Asia 2025
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
EXCLUSIVE: “Private Banking for All” – Hylton Kallner, Discovery Bank in ‘The Fintech Magazine’
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Temenos Strengthens Product Leadership With Key Appointments
Temenos (SIX: TEMN), a global leader in banking technology, today announced it has strengthened its product leadership team with two strategic appointments. Rohit Chauhan joins as Chief Technology Officer (CTO), and Eugene Khmelevsky joins as Global Head of Architecture and Data. The two executives, based out of the U.S., report to Barb Morgan, Temenos’ Chief Product and Technology Officer, highlighting the company’s strategic investment in talent to accelerate growth and innovation.
ACI Worldwide Recognized as Leading Provider of Fraud Orchestration Solutions by Datos Insights
ACI Worldwide (NASDAQ: ACIW), an original innovator in global payments technology, has been recognized among leading solutions providers in Datos Insights’ latest report on the fraud orchestration solutions market, Beyond Point Solutions: Orchestrating the Future of Fraud Prevention.
Four in Ten British Businesses Would Adopt Open Banking for Increased Security Benefits, but Are Held Back by Lack of Understanding
42% of British businesses are keen to integrate open banking into their operations citing the potential benefits of increased security and fraud prevention. This comes as a study by Payit, NatWest’s open banking payment solution, found that one in five (22%) businesses spend more than 6 hours per month managing and storing sensitive customer information, such as card details. And with open banking solutions, they could use this time to build and grow their business.
AAA Life Insurance Company Selects One Inc’s PremiumPay® to Support Digital Payment Processing
One Inc, the leading digital payments network for the insurance industry, today announced that AAA Life Insurance Company (AAA Life) has selected its PremiumPay® solution to support the company’s digital payment processing capabilities. AAA Life will use PremiumPay as its primary platform for digital payment processing, offering policyholders a wider range of flexible, secure payment options while streamlining internal processing.
More People Have Bank Accounts but One in Ten Have No Cash Savings, FCA Survey Reveals
The Financial Conduct Authority (FCA) has found that one in ten people have no cash savings at all, and another 21% have less than £1,000 to draw on in an emergency. The regulator’s research also shows that one in four people in the UK have low financial resilience, meaning that they have missed payments, are struggling to keep up with commitments, or don’t have savings to help them through difficulties.