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THE API INTEGRATION ALSO MEANS IT ’ S FLEXIBLE IN THE SENSE THAT WE CAN OVERLAY QUITE A LOT OF OTHER SERVICES . provider that shared its growth objectives and could help it scale quickly . As a result , it chose ClearBank as its partner .
“ ClearBank is a leader in its field and was an obvious partner for Allica because we ’ re aligned in many ways . We ’ re both API-first and focused on speed and execution . Our philosophies , values and culture are similar . It makes it easy to work with a partner when you ’ ve got a shared vision for how things should be delivered and run ,” said Sattar .
Delivering a market-leading business current account for SMEs
Established SMEs have found themselves stuck in the middle . Their needs are too complex to be met by a bank geared towards micro-SMEs , but they ’ re too small to be afforded the kind of service they need from a big bank . They also require agility to execute their plans quickly .
It was important for Allica Bank to build and launch the bank account in the most efficient way possible . Working with ClearBank , it could quickly set up a test environment to understand how the different payment schemes would work for its customers .
It launched its business current account externally to established businesses in 2023 , offering cashback rewards , no monthly fees and dedicated relationship manager support , along with an integrated Savings Pot with market leading interest rates . Through ClearBank , it provides SMEs with the broadest possible deposit and withdrawal options including Faster Payments System ( FPS ) and CHAPS , as well as credits via Bacs Direct Credit and access to outbound Bacs Direct Debits .
In less than a year , Allica Bank had opened accounts for more than 2,000 established SME customers .
“ The advantage working with ClearBank has given us is that we could launch the account and get the product to market faster . The API integration also means it ’ s flexible in the sense that we can overlay quite a lot of other
66 Intelligent SME . tech