The business bank bringing back the relationship manager

Lancashire and Cumbria’s established small and medium business community – typically those with around 10 to 250 staff – are the beating heart of our local economy.

They are the driving force behind our burgeoning tourism and hospitality sectors, pack the streets of our bustling town centres, and power Lancashire’s world-leading technology and manufacturing industries.

Across the UK, these businesses are responsible for a whopping 30 per cent of the country’s employment. But despite this, these established small and medium businesses aren’t getting the support they need.
For example, ten years ago, a business owner would have had the personal attention and support of a relationship manager at their bank.

Someone that knew them and their business, and that they could visit in their local bank branch to ask questions or seek guidance.

Now, though, these branch networks are disappearing at an alarming rate. More than 5,000 local bank branches have vanished from the high street since 2015, at a rate of around 54 each month.

More than 5,000 local bank branches have vanished from the high street since 2015

And thousands of local relationship managers have gone with them.

In their place are call centres, staffed by people who may not have even visited the area, let alone know anything about their business.

This has created a crisis of financial expertise. Where businesses may previously have relied on their bank relationship manager for  guidance on how they could borrow to buy new premises, upgrade their machinery, or reduce their existing borrowing costs, many are now left in the dark.

A good relationship manager can help a business owner make a strong application for a loan, or even point them towards a product that they may not have even known existed.

And, with so many economic pressures currently facing businesses in Lancashire and Cumbria, this kind of expertise has never been more important.

A BANK BUILT ESPECIALLY FOR ESTABLISHED BUSINESSES

This is exactly why we built Allica Bank. Launching in 2020, our mission was to create a bank designed especially for the needs of the established business community.

We give every one of our customers access to an expert relationship manager, and thanks to our modern technology we can back it up with a smooth and speedy customer experience.

I myself am an Allica Bank relationship manager for the Lancashire and Cumbria region. Living in Chorley, I have worked closely with businesses in the North West for over 20 years.

Alongside my colleague Amanda Meyerhoff – who, from her base in the Wirral, has herself racked up 15 years’ experience supporting North West business owners – we give established businesses access to the real business banking expertise that they both want and need.

Allica also doesn’t believe in charging businesses for having a business account with us. Instead, we reward them!

Our current account has no monthly fees and pays up to 1.5 per cent cashback on card spend, and our savings accounts pay interest rates that can be more than ten times what the high street banks provide.

So far, it’s proven to be incredibly popular. We’ve lent over £1bn to established SMEs across the UK through our commercial mortgage and asset finance products, and have over £1bn saved with us in savings accounts.

We’ve had some great customer feedback, including an ‘Excellent’ rating on Trustpilot, and being voted Business Finance Provider of the Year at the 2022 British Bank Awards.

Ambitious businesses in Lancashire and Cumbria deserve better from their bank.

At such a pivotal time for British businesses, it’s vital that they have access to the expertise they need to succeed and prosper. I’m proud that now, through Allica Bank, they have that opportunity.

We’d love to speak to you about how we can help your business, too.

Email [email protected] or [email protected] to arrange a call. Or find out more at www.allica.bank