Allica Bank goes ‘turbo’ on AI as profit and loan book swells bit.ly/4tTclHQ

Allica Bank makes major acquisition as it eyes £1bn SME lending goal bit.ly/4o7FA76

What is behind the rapid growth of UK fintech? There’s a rocket strapped to UK fintech, and it’s only speeding up. On 28 April, UK fintech week kicks off, with industry body Innovate Finance hosting its 11th global summit. This follows another record year for the industry, where businesses saw profits balloon and customer bases swell. Allica Bank, a London-based fintech, was dubbed the UK’s fastest growing private company by The Times Hundred and Europe’s fastest growing start-up by Sifted. The firm nearly doubled its profits in 2024, pocketing £29.9m. With young firms on the rise and established challengers posing a threat to traditional lenders, London has emerged as a global leader in fintech, but what’s behind the City’s momentum? Janine Hirt, chief executive of Innovate Finance, told City AM: “Success stories like Allica Bank, Revolut and Zilch are great examples of UK fintech’s strengths – and they are far from the exception.” Read more of the story here 👇 cityam.com/inside-the-rapid-… #uk #fintech #finance #financialnews #business #businessnews #tech #technology #technews #personalfinance #economy #economics #london #newyork #bank #banking #monzo #revolut #zilch #onlinebanking #uknews #ukeconomy #uktech

Europe’s fastest growing start-up Allica Bank delivers another record year  bit.ly/4lzomyE