London, UK – March 2024

 

Whistlebrook is delighted to announce that Allica Bank – the digital relationship bank dedicated to supporting established businesses – has chosen to extend its relationship with Whistlebrook for the use of its automated Regulatory Reporting (WIRES®), FATCA, AEOI and SCV reporting (TIRIS®) and fee and interest income recognition product (WBEIR®).

The renewal of the partnership is a testament to the good working relationship that Allica Bank and Whistlebrook have mutually cultivated, and which both companies highly value.

Through the use of the single integrated database, used by all Whistlebrook products, customers can see a complete view of their business through data driven analytics. A centralised database ensures efficiency, consistency, and accuracy across the entire Whistlebrook product suite, be that for satisfying regulatory reporting obligations, taxation and SCV reporting or deriving fee and interest recognition.

James Heath, Chief Financial Officer at Allica Bank said, “Allica Bank’s commitment to no-nonsense business banking built specifically for established SMEs has seen us grow rapidly the past few years. Alongside recently being named the fastest-growing fintech ever in the UK, in 2022 Allica also became one of the fastest fintechs to become profitable.

“To achieve this kind of growth in a sustainable way, it’s important Allica Bank has partners we can rely on, such as Whistlebrook. We are looking forward to continuing our partnership with them into the future.”

Andy Hudders, Whistlebrook Company Director added: “We are delighted that Allica Bank has chosen to extend its partnership with Whistlebrook. We are committed to supporting them in their continued growth, and I thank them for their continued trust in us.”

 

About Allica Bank

Business banking isn’t working. Allica Bank is on a mission to change that. Allica is the UK’s only full-service bank dedicated to serving established businesses – those SMEs the heart of the economy with between 5 and 250 employees, who are overlooked and underserved.

In 2023 Allica was named the UK’s fastest-growing technology company in Deloitte’s 2023 UK Technology Fast 50 – with annual revenue growth that makes it the fastest-growing fintech company ever.

Allica offers the services they need, bringing specialised knowledge, products, tech, and local, human expertise and is quickly disrupting the UK’s SME banking market. It offers dedicated SME business banking products, including commercial mortgages, asset finance, a new proprietary business rewards account and a range of savings accounts.

Allica’s ambition is to gain 10% market share in the next five years in order to help change the SME market for the better.

Allica is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority. Financial Services Register Number: 821851.

 

About Whistlebrook

Founded in 1997 Whistlebrook is a leading provider of back office software solutions to the financial services industry. These software solutions have been developed with financial institutions to solve particular business problems, provide business insights, and improve efficiency. The software solutions comprise of a portfolio of back office applications that cover such areas as: Regulatory Reporting; Effective Interest Rate calculation; Single Customer View; Funds Transfer Pricing; Treasury Management; ALM; Hedge Accounting; Financial Planning and Financial Ledgers.

For more information about Whistlebrook, call 01480 309550 or email [email protected].