Allica Bank completes migration of AIB SME clients

Allica Bank has announced it has successfully migrated all acquired customers from AIB’s UK SME lending portfolio onto its systems.

Over 1,400 customers and 1,700 loans were successfully moved to the bank, following its acquisition of AIB’s SME lending book in November 2021.

The loans were migrated in two tranches, the first in April, and the second at the end of July.

The bank designed, built and implemented bespoke technology systems to accommodate the complex loan portfolio, with support from Mambu.

Each customer will have a dedicated relationship manager who will provide personalised support for their business, and will have exclusive early access to the bank’s new business rewards bank account, due to be launched to the wider market later this year.

Richard Davies, CEO at Allica Bank, said he was delighted to welcome AIB’s SME lending customers.

“To have seamlessly migrated such a complex portfolio in just a matter of months was a major undertaking for a bank of our size, and would not have been possible without our top-notch technology capabilities and committed colleagues.

“We have done everything we can to make sure our new customers feel right at home with Allica, and benefit from our strong technology proposition with tailored personal service delivered by dedicated relationship managers.

“We look forward to working with these businesses to help them grow, scale and achieve their ambitions.”

In June, Allica Bank revealed it has completed £1bn in loans to Britain’s SMEs.

The bank now aims to lend £3bn to established SMEs over the next three years.


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