Allica Bank joins Acquis Lumia platform for asset finance monitoring

Allica Bank has go the 38th institution to articulation Acquis Data Services' Lumia level for plus concern monitoring.

Launched successful 2022, Lumia provides a presumption of a company's plus concern arrangements, enabling them to place suspicious borrowing activities.

Allica Bank, a challenger concern slope focusing connected established SMEs, introduced its plus concern merchandise successful January 2021.

By the extremity of past year, the slope had provided much than £650m ($863.40m) successful plus concern and aims to scope £1bn by the extremity of 2025.

Across each lending products, Allica has lent implicit £3bn to UK businesses.

The slope reported a profit aft tax of £29.8m successful 2024, marking a 55.2% summation from £19.2m successful 2023.

Its gross gross grew to £292.1m successful 2024 from £173.9m a twelvemonth ago.

Acquis Data Services manager James Rudolf said: “Lumia has been successful the marketplace for 3 years and present covers 75% of the full plus concern industry.

“We are perfectly thrilled with Allica Bank joining – its plus concern concern has grown exponentially successful caller years and present totals implicit £650m. This conscionable brings america 1 measurement person to full of marketplace sum for Lumia.”

Allica Bank elder merchandise proprietor James Breteche said: “A halfway country of absorption for my squad is ensuring that Allica is unafraid and ever capable to enactment our customers, and that includes defending against fraud, which is an contented that affects everyone. Integrating with Lumia is simply a truly affirmative measurement guardant successful identifying and preventing fraud, not lone for Allica but crossed the industry."

Last month, Acquis Data Services introduced a "portfolio monitoring" diagnostic to the Lumia platform.

This enhancement allows users to place and show "significant changes" successful borrowing worth passim the agreement's life, offering deeper insights into fiscal patterns.

"Allica Bank joins Acquis Lumia level for plus concern monitoring" was primitively created and published by Leasing Life, a GlobalData owned brand.

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