Fintech Insider Podcast by 11:FS

962. Insights: The UK’s fastest-growing fintech: in conversation with Richard Davies, CEO of Allica Bank

May 15, 2025

Richard Davies, CEO of Allica Bank, brings extensive experience from giants like HSBC and Barclays to the fintech scene. He discusses Allica's unique approach to SME banking, focusing on relationship-led service and rapid growth strategies. Richard shares insights on competing with neobanks, the role of AI in finance, and the quirky branding strategy behind the iconic orange bowler hat. He addresses the pressing issue of credit access for SMEs in the UK and outlines the bank's ambitious goals for future expansion.

48:47

Episode guests

Richard Davies

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Allica Bank is revolutionizing SME banking in the UK by providing tailored financial solutions specifically designed for established small and medium enterprises.

The bank's growth strategy combines innovative technology with personalized customer service, ensuring strong relationships and fostering trust within the SME sector.

Deep dives

Transforming the Banking Landscape for SMEs

AlicaBank aims to revolutionize the banking sector by specifically catering to small and medium enterprises (SMEs). Founded in 2019, the bank has quickly established itself as a major player in the UK by focusing on underserved businesses, often overlooked by traditional banks. With unique products and services tailored to SMEs, AlicaBank addresses the complexities inherent in this market segment, which constitutes a significant portion of the UK economy. The recent growth of AlicaBank, particularly during the pandemic, highlights its potential to achieve unicorn status and lead in the SME banking space.

Intro

2min

Navigating Fintech: Support for SMBs

9min

Navigating Growth in Fintech

15min

Crafting a Distinct Brand Identity

5min

Navigating Growth and Future Goals in Fintech

2min

Navigating Growth and Market Ambitions in Fintech

2min

Challenges in SME Finance and Future Growth

10min

Reflections on Growth and Community Engagement

2min

About this episode:

In this episode of Fintech Insider Insights, host David M. Brear is joined by Richard Davies, CEO of Allica Bank - the UK’s fastest-growing fintech focused on serving established small and medium-sized enterprises (SMEs).

Richard shares how his unique background at traditional giants like HSBC and Barclays, combined with his time at fintech innovators like Revolut and OakNorth, has shaped his mission to build a better bank for UK businesses.

We dive into Allica’s rapid rise, its unique approach to relationship-led banking, and what’s next in their journey towards unicorn status.

We also discuss:

How Allica Bank is redefining SME banking in the UK
The strategy behind its record-breaking growth
Competing with neobanks and embracing AI
Why branding (hello, orange bowler hat!) matters in fintech

This week's guest:

Richard Davies - CEO of Allica Bank

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About Fintech Insider:

Fintech Insider by 11:FS is a bi-weekly podcast that covers everything from finance and banking to technology and the latest trends in financial services.

Our expert hosts, with hands-on industry experience, are joined by key decision-makers, VCs, and top reporters from across the financial landscape, including guests from companies like Stripe, Revolut, Plaid, PayPal, and Monzo. Together, they break down the biggest news and innovations shaping the space.

Our weekly news show drops every Monday, covering major stories like mergers, new product launches, regulatory shifts, and emerging tech trends. On Thursdays, our Insights show goes deeper into the hottest topics driving the future of finance, including AI in banking, decentralised finance, and the evolving landscape of embedded finance.

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