London. SaaScada, the leading new core banking platform and services provider announces that it has been selected to support the launch of Allica Bank’s new product range in the SME banking sector

Established in 2019, Allica Bank is a leading fintech challenger bank, dedicated to providing a full range of credit and payment services to established, growing SMEs – combining proprietary technology and experienced local relationship managers to provide great customer experience. Allica Bank has seen strong growth in 2021, recently announcing a £110m funding round and portfolio acquisition of circa 2000 of AIB’s GB customers. Allica is set to launch its first payment product in early 2022.

Allica Bank selected SaaScada because of its unique intelligent banking platform that provides new entrants with flexibility as they scale and grow. The data-rich SaaScada platform will empower Allica Bank with the ability to deliver products tailored to its customers’ needs based on their real time transaction activity. One of these innovative products is a business payment account with unique features that will support Allica Bank’s strategy in addressing the needs of the SME market.

Toby Mason, Chief Operating Officer, Allica Bank said ‘After a rapid year of growth in 2021 for Allica, we’re really excited about our product roadmap in 2022, which sees us expand our offering - including launching our first payment account for SMEs. We’re delighted to be partnering with SaaScada who are helping us bring this vision to life, by enabling us to build and launch innovative products at pace and scale.”

Nelson Wootton, Chief Executive Officer, SaaScada said ‘With the SaaScada platform, Allica Bank is able to rapidly launch new products and services and deliver a leading digital experience to its SME customers. Our low-cost platform is highly secure and data rich. Its rapid speed to market ensures that Allica Bank can test new offerings, and quickly adapt or add additional products to provide a first-class service that best suits every individual customer.