Migration completed within months
Fintech challenger Allica Bank has announced that it has successfully migrated the acquired customers from AIB’s GB SME lending portfolio on to its systems.
Over 1,400 customers and 1,700 loans were successfully moved from AIB Group to Allica Bank following its acquisition of AIB’s GB SME lending portfolio in November 2021. The loans were migrated in two tranches – the first in April, and the second at the end of July.
Allica designed, built, and implemented bespoke technology systems to accommodate the loan portfolio, with support from cloud banking platform provider Mambu.
Allica said it had been carefully onboarding its new SME customers – each of them has been introduced to a dedicated relationship manager to provide personalised support for their business. The bank is also offering these customers exclusive early access to the new business rewards bank account, due to be available to the wider market later this year.
Read more: Allica acquires £600m portfolio.
Richard Davies, chief executive officer at Allica Bank, said they were delighted to welcome AIB’s SME lending customers.
“We look forward to working with these businesses to help them grow, scale and achieve their ambitions,” Davies said. “To have seamlessly migrated such a complex portfolio in just a matter of months was a major undertaking for a bank of our size, and would not have been possible without our top-notch technology capabilities and committed colleagues.
“We have done everything we can to make sure our new customers feel right at home with Allica Bank, and benefit from our strong technology proposition with tailored personal service delivered by dedicated relationship managers.”
