Allica Bank (former Civilised Bank) is a UK-based fintech company that provides digital banking services to small and medium-sized businesses (SMEs).

The company offers current accounts for business customers, transaction banking, overdrafts, currency exchange, investments, savings, and loans for SMEs, and plans to expand into retail banking, especially savings and investments.

Today the company is controlled via three holding companies – Bae Systems Pension Funds Trustees Limited, Acm Ab Equity Holdings Llc, and Warwick Capital Partners Llp.

The FintTech was founded in 2017 by Jason Scott (Linkedin) and emerged from Civilised Bank. It received a banking license in May 2017 but had to return it a year later because it did not meet regulatory requirements to end mobilization.

In November 2021, Irish banking giant AIB (PR42 Profile) sold a £600 million SME loan portfolio with more than 1,400 customers and 1,700 loans to Allica in a bid to boost its revenue and reach profitability by mid-2021, according to the bank. In August 2022, Allice that over 1,400 customers and 1,700 loans were successfully migrated from AIB to Allica.

Allica Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (FRN: 821851).

Due to the unspecified reasons for the restructuring and the unresolved restructuring of the ownership structure, we place the company on our “Orange Compliance” list.