UK-based challenger bank Allica has selected Lendscape’s commercial lending technology platform to support its asset finance operations.
The decision follows a successful trial in a sandbox environment and forms part of Allica’s strategy to scale its offering for established small and medium-sized enterprises (SMEs) and fintech clients.
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According to Allica’s deputy CEO Niv Subramanian, the bank’s investment in digital infrastructure is aimed at delivering business banking that is “flexible” and “fits seamlessly” into its wider ecosystem. “Our growth shows just how strong the demand is for a better kind of business banking,” he said.
The Lendscape platform, described as “API-first”, will enable Allica to integrate with other systems, respond rapidly to market changes and deliver product innovation at speed.
Conrad Ford, Allica’s Chief Product and Strategy Officer, said the lender was impressed by Lendscape’s transparency during early discussions and the platform’s ability to meet Allica’s growth and integration requirements. “We’ve seen the strength of their technological foundations and the alignment in our ambitions,” he said.
Lendscape’s chief product officer, Steve Taplin, said the firm had made a long-term investment in asset finance technology and highlighted the benefits of early sandbox access during the trial period. “We share Allica’s commitment to improving SME finance,” he said.
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By GlobalDataSunny Bhachu, regional commercial director at Lendscape, described the partnership as a “perfect fit”, adding that Lendscape was well-positioned to support Allica’s growth strategy.
