A UK business bank for established small and medium-sized companies. Headquartered in London and Milton Keynes, with an office in Manchester.
Allica Bank is a British bank built for established small and medium-sized businesses, often called SMEs. Allica defines these as firms with roughly 5 to 250 employees: the shops, builders, manufacturers and family firms that make up much of the UK economy. It offers business lending, savings accounts, business current accounts and cards, and says it exists to change how banks treat this group, which it feels high-street banks do not always serve well.
Allica received its banking licence from the Prudential Regulation Authority (the Bank of England body that checks banks are safe) in 2019. Richard Davies, who had been chief operating officer at Revolut, became chief executive in July 2020, at a time when the bank was still small and its launch had been complicated by COVID-19. Its leadership page describes a team with backgrounds that run "from senior roles at traditional and digital banks, to running their own small businesses". Its registered office is at Worship Street in London, Wikipedia lists Milton Keynes as a second main base with an office in Manchester, and a recent job listing offers a Milton Keynes office option. Wikipedia reports about 800 employees in 2025.
We did not find a formal mission statement on Allica's leadership page, but Richard Davies has described the purpose in an interview as: "we exist solely to transform finance for established SMEs". Allica's careers page also lists five values in its own words: In it together, Lead by example, Need for speed, Straight bat (meaning start with the customer, find practical answers and speak up) and Own it.
Its main products are business lending, the business current account that launched in January 2023, savings accounts and cards. In the interview Davies says lending is sold mostly through brokers and other intermediaries, while current accounts and cards are mostly sold directly, and that Allica builds much of its own technology, with more than 200 people in product and engineering. Allica also publishes research with Oxford Economics on how lending to established businesses affects the wider economy.
Working there is described by the company as fast-paced, mixing fintech with human support. Its careers page claims 92% of respondents in a survey said the team enjoys working together (the company's own claim). Davies says hiring looks for cultural fit, potential to grow and the ability to get things done quickly, and the process can include a home task. Benefits listed include flexible working and enhanced maternity, paternity and shared parental leave. Roles span relationship management, partnerships, lending, operations and engineering. We did not find a formal graduate scheme, but a Graduate AI Engineer role in its Autonomous Lending team was advertised in July 2026 (now closed), asking for a degree, Python and machine learning basics.
Website: www.allica.bank
PURPOSE helps school and university students explore 62 sectors and over 1,000 entry-level careers in the UK, then connects them directly with employers.
Explore PURPOSE