**London**: Allica Bank announces plans to increase its relationship managers from 22 to 60 by year-end, aiming to enhance personalised banking for businesses as traditional banks reduce personal services. The expansion includes recruiting in various regions and leveraging technology for tailored support.
Allica Bank, an emerging player in the UK banking sector, is embarking on an ambitious expansion plan to significantly increase its network of relationship managers across the country. The bank plans to nearly triple its current workforce of 22 relationship managers to 60 by the end of the year. This move is a direct response to the rising demand from businesses that seek tailored advice and support amid a climate where many traditional high street banks have gradually reduced personal assistance for their business customers.
The expansion phase for Allica Bank includes the recruitment of relationship managers in various regions such as Bristol, the North East, Newcastle, Norwich, Cambridgeshire, South Wales, Oxford, and Scotland. This strategic growth aims to enhance the bank’s connection with established businesses, particularly those employing between 5 and 250 staff members, which are critical components of the UK economy.
At the forefront of Allica’s approach is the development of a proprietary technology platform designed to aid their relationship managers in providing personalised insight and guidance tailored to individual business needs. This focus on technology aligns with Allica Bank’s overarching strategy to restore the importance of relationship-based banking, thus making it a distinctive entity within the fintech landscape.
The bank’s rapid ascension in the industry has been highlighted by its recognition as the fastest-growing UK company in 2024 by The Sunday Times 100 and the fastest-growing fintech ever by Deloitte UK’s Fast 50 rankings. Allica Bank has facilitated over £3 billion in loans to established businesses and has noted a quick uptake of its Business Rewards Account.
Testimonials from clients illustrate the impact of Allica’s relationship managers on their businesses. Ovais Ahmed, owner of Kinder City Nursery in Luton, expressed appreciation for the support provided by his relationship manager, Wahid Nawaz. Ahmed stated, “there can be a lot of anxiety as a business owner, especially when making big decisions… With my relationship manager’s support, I have someone I can call and talk things through with. It puts my mind at rest that I’m making the most informed decision I can.”
Wahid Nawaz highlighted the significance of tailored advice in empowering business owners who may lack in-house financial expertise. He mentioned, “A relationship manager can make a world of difference for a business… At Allica, we also like to think of ourselves as connectors; bringing business people together and exploring how we can help our customers beyond just their banking.”
Stephen Aucott, the owner of Odyssey Health Club & Spa, also noted the advantages of having a dedicated contact for banking matters. He said, “Having a personal point of contact is a clear departure from how the other banks are now operating… He made the impersonal, personal.”
Allica Bank’s Head of Relationship Management, John Harrison, elaborated on the expansion, stating, “Established businesses are such crucial parts of our local communities… It’s therefore so important that banks give them the support they need to thrive.” He indicated that the bank’s relationship managers are vital to its operations and customer engagement strategy.
Harrison further affirmed, “The expansion of our team is a signal to the market that Allica is doubling down on our commitment to give our established business customers that relationship-based support that is lacking elsewhere.” He underscored the role of advanced technology in enabling relationship managers to offer bespoke insights and enhance client connections.
With these developments, Allica Bank reinforces its strategy centred around personalised banking relationships in a marketplace often dominated by impersonal service models.
Source: Noah Wire Services
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