Allica Bank has announced that it has successfully migrated the acquired customers from AIB’s GB SME lending portfolio onto its systems.
The loans were migrated in two tranches, with the first in April preceding the second at the end of July.
Over 1,400 customers and 1,700 loans were successfully moved from AIB to Allica following its acquisition of AIB’s £0.5bn SME lending portfolio in November 2021. Allica designed, built and implemented technology systems to accommodate the complex loan portfolio in the space of a few months, with support from cloud banking platform provider, Mambu.
Alongside migrating customers and loans on to Allica’s systems, the fintech challenger bank has also been carefully onboarding its new SME customers. Each customer has been introduced to a dedicated relationship manager to provide personalised support for their business.
Allica Bank CEO, Richard Davies, commented: “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.
“We look forward to working with these businesses to help them grow, scale and achieve their ambitions.”
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