PRA grants Allica its banking licence

Tuesday 10 September 2019 14:14 CET | News

Allica, a bank for small and medium-sized enterprises (SMEs), has been granted its banking licence by the Prudential Regulation Authority (PRA), according to Sharon Kimathi from FinTech Futures.


Moreover, it will be dually regulated by the PRA and the Financial Conduct Authority (FCA).

The neobank’s aims to enabe SMEs to advance their business via tailored support and financial expertise.

Allica is now planning for a full launch and will ultimately offer working capital solutions and cash management, including loans, savings, payment services and asset finance.


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Keywords: banking, B2B, finance, digital, regulation, SME, Allica, FCA, PRA, payments , cash management, UK
Countries: World