Allica Bank named AFC Lender of the Year 2025

At the 2025 Asset Finance Connect (AFC) Summer Awards, Allica Bank was named Lender of the Year, sponsored by NETSOL Technologies. The recognition marks a major milestone in Allica’s remarkable rise as one of the UK’s most innovative and influential lenders to the small and medium enterprise (SME) sector.

In just five years since its launch, and only four years after entering the asset finance market, Allica Bank has transformed from a digital upstart into a powerhouse, driven by proprietary technology, a bold vision, and a commitment to serving a crucial yet underserved segment of the UK economy, established SMEs with 5 to 250 employees.

“This recognition is a true testament to the hard work, innovation, and dedication we’ve poured into building a relationship-led, tech-enabled asset finance offering that genuinely meets the needs of brokers and their clients.”

The numbers tell a compelling story. Allica Bank has now lent over £3 billion to UK businesses, with nearly a third of that through asset finance. In the last 12 months alone, asset finance volumes grew by 41%, reaching £427.8 million, and driving a 54% increase in the bank’s net loan book.

At the heart of Allica’s offering is a blend of smart technology and human service. In March 2025, the bank processed over 1,000 applications valued at more than £100 million, including 660 broker-led submissions that resulted in over 400 completed deals totalling £37 million, all while maintaining its 24-hour service-level agreement for credit decisions and pay-outs.

Automation plays a key role. Machine learning now handles 40% of applications, while fulfilment automation has improved productivity by 20% year-on-year. To support the rapid growth, Allica’s Business Development Manager team grew by 25%, and Sales Support staff increased by 20%, ensuring brokers get the expertise and responsiveness they need.

Allica’s asset finance offering has evolved rapidly, thanks in large part to broker input. In the past year, the bank has launched a long-term sub hire solution (up to 36 months) for wheeled, tracked, and plant machinery; enhanced its refinance proposition, funding requests of £75,000+ to help businesses unlock capital; expanded into soft and medium assets, lending over £30 million in just 12 months on items like IT, robotics, and scaffolding; entered key sectors, such as agriculture and green energy, with tailored solutions; and maintained a 60% approval rate while scaling up operations.

The result? Record-high broker satisfaction, with 94% rating their experience as good or excellent, and 98% praising Allica’s BDMs for responsiveness and market knowledge.

Scaling responsibly, growing sustainably

Allica Bank’s success is not just about speed and scale; it’s about sustainability. In 2024, the bank nearly doubled its profit margin to £29.9 million and was ranked #2 on the FT1000 list of Europe’s Fastest Growing Companies. It has also topped Deloitte’s Fast 50 for two consecutive years and was named the UK’s fastest-growing company by The Sunday Times in 2024.

“We’ve had several record-breaking months this year,” said Hall. “But our biggest achievement has been scaling without compromising the gold-standard service brokers expect from us.”

Beyond asset finance

While asset finance is a cornerstone, Allica has continued to innovate across its broader lending proposition, including launching a specialist buy-to-let product targeting £100m in lending by year-end; acquiring and integrating Tuscan Capital, entering the bridging finance space; delivering rate reductions, fee cuts, and more flexible repayment options across key products; strengthening support for the healthcare sector, including specialist care and children’s nurseries; and rolling out digital tools such as a commercial mortgage calculator to streamline broker services.

Allica is also advocating for change at the national level. Its recent research revealed a £65bn gap in SME lending over the past 25 years and highlighted the UK’s sharp decline in “productive credit.” The bank is calling for a 3–4x expansion of the Growth Guarantee Scheme; reforms to the prudential framework with SMEs in mind; and support for AI-driven, relationship-led banking models.

A vision for the future

Allica’s long-term ambition is clear: to achieve 10% market share in the SME banking sector within the next five years. It’s a bold target, but as the AFC Lender of the Year 2025, the bank is already proving it has the model, mindset, and momentum to deliver.

“This award marks a significant milestone in our journey to redefine what business lending should look like,” said Hall. “A heartfelt thank you to our broker community for their continued support and trust – we simply couldn’t have achieved this without you.”

With its unique combination of cutting-edge technology, genuine human relationships, and an unwavering focus on SMEs, Allica Bank is not just building a better bank. It’s helping reshape the future of business finance in the UK.