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Richard Davies | CEO@Allica | Fintech Finance

About Richard Davies

https://www.allica.bank/
Richard Davies has had the privilege to work with three UK fintech unicorns—OakNorth, Revolut, and WorldRemit—and is passionate about leading growth through client-centric technology and business model innovation, with a particular interest in SMEs. His career began with strategy design and implementation at LEK Consulting and Barclays. Richard Davies later moved to run front office divisions in Barclays, covering SMEs in South East England from 2008 to 2010, and then served as MD for global corporates across the UK and COO globally from 2010 to 2013. In 2013, Richard  was headhunted to lead the new SME challenger bank OakNorth's entry into the UK banking market. After successfully leading the first phase of developing the business plan, hiring the executive team, designing risk systems, product sets, operating models, and submitting the regulatory licence, he joined HSBC. His UK COO role at HSBC covered a broad range of responsibilities for the $2bn PBT Commercial division, including business strategy and change activity, digital run and transformation, major regulatory change programmes (e.g., Ringfencing, CMA), first-line risk management, lending products (including HSBC Equipment Finance division), and operations. In 2016, Richard focused fully on digital transformation with a global remit as Global Head of Propositions and Digital Development for the Commercial Bank. In 2018, Richard joined TSB's Executive Committee to lead SME banking. He addressed customer issues resulting from LBG technology migration and implemented a growth plan that included improvements to onboarding, BCA and savings products, a new field RM channel, and partnerships with Square and Enterprise Nation. At Revolut, Richard served as Group COO, leading the global banking proposition, including establishing new leadership teams and operations in Ireland, the US, Australia, and Singapore, and launching Revolut’s bank in Europe. Under his leadership, Revolut grew from 5 to 15 million customers and raised $580 million. Currently, Richard Davies serves as the CEO of Allica, having taken on the role shortly after Allica was authorized by the PRA. His mission is to transform business banking for established SMEs. Backed by TCV, Atalaya, and Warwick, Allica has become the fastest-growing company in the UK over the three years to the end of 2022, and the fastest ever-growing fintech in the 26 years of the Deloitte Fast 50. Richard Davies holds a 1997 - 2001 Bachelor of Arts in Economics @ University of Cambridge. With a robust skill set that includes Strategy, Banking, Portfolio Management, CRM, Leadership and more.

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