Allica Bank Rolls Out Direct-To-SMB Banking

Allica Bank has rolled out an offering for small-to medium-sized businesses (SMBs) that is a direct-to-SMB banking solution, according to a press release. The offering will “bring back the local relationship manager” for established SMBs.

The bank has also appointed three relationship managers and one new business executive to support the launch, the release stated.

SMBs represent a group that has not usually been offered a relationship manager with deep knowledge and SMB lending expertise, the release stated, citing Accenture research that has shown many businesses won’t give up their relationship manager for a digital-only option, underscoring its importance. That counts even if it costs them less to go digital.

Allica’s focus in its new offering will be on boosting the personalized and tailored service to help make customers’ lives easier, according to the release. The company also plans to offer 500 million pounds (about $694 million) in committed SMB loans this year.

Local relationship manager for the Midlands will be Reena Pithwa, who joins with 23 years of banking experience and supporting SMBs, the release stated.

“I am passionate in my belief that supporting businesses needs to be at a local level with a deep understanding of the businesses involved,” she said in the release. “Allica’s modern FinTech offering combined with its personalized relationship manager philosophy, makes it the ideal choice for me. I want to be the person that established [SMBs] in the Midlands look to for funding solutions.”

Nargis Quraishi will be supporting Pithwa in the region, the release stated. Katie Roberts will be responsible for the North. Karen Astbury will support the three relationship managers in a new business executive role.

“Our Direct-to-SME offering will play a major part in our goal of empowering established [SMBs] to succeed and supporting the economic recovery from the pandemic,” Allica Bank Chief Product and Strategy Officer Conrad Ford said in the release.

Financial institutions (FIs) have not had an easy time responding to the pandemic and its corresponding move to digital. Banks may be leaving behind the debate over whether to integrate public or private cloud software. And many FIs have turned to hybrid or multi-cloud models.

Allica, PYMNTS reported, turned to the cloud and a third-party cloud technology provider to create core banking infrastructure to help with mortgage lending and savings account services.