Allica Bank launches accountancy partnerships team

hossack sophie 400
Sophie HossackHead of Partnerships at Allica Bank

Allica Bank has announced the launch of a new partnerships team, specifically focused on growing its relationships with accountancy firms across the UK.

The digital challenger bank sees accountants as a vital connection to its core segment of established SMEs – businesses with 5 to 250 employees – a group that currently contribute a third of UK turnover and employment.

Initially a team of eight partnerships managers with coverage across the UK, the new team will be led by Sophie Hossack, previously the first employee at Dext (formerly Receipt Bank), and Rich Williams, who previously led Australian asset finance intermediary, Stratton Finance.

The role of the new team will be to collaborate closely with accountancy firms to help them and their clients get more from their banking with personalised and dedicated support. The team will run regional events, share knowledge, and help accountants add value to their client relationships.

Discussing the need for a bank that prioritises accountant relationships, Mitch Hahn, CEO of accountancy firm Nordens said: “Over the years we’ve tried to work with all the high street banks, but frustratingly, we’ve found most have fallen short time and time again. They haven’t really understood our clients, their needs or their potential.

“Last year one of our clients introduced us to Allica Bank because they’d started banking with them. It was refreshing to talk to the banking team there who were genuinely interested and passionate about working with us and our clients. It’s key for accountants and banks to work together to provide business owners with an excellent service. We’re pleased (and relieved!) to have finally found a bank willing to step up and deliver.”

The introduction of the team comes following the news that Allica Bank successfully launched integrations with industry-leading accounting platforms Sage and Xero.

Allica Bank has also partnered with key industry associations, including ICAEW, CIMA, and AAT, as a sign of its further commitment to the sector.

Talking about the expansion, Allica Bank’s Head of Partnerships Sophie Hossack (pictured) said, “Allica Bank is so proud to launch our new team dedicated especially to supporting accountants in the UK and their SME clients. Accountants are the most trusted advisor to business owners, when times are good and when they’re tough.. We’ve heard first-hand how frustrating many accountants find their experience with the big banks who typically no longer provide a point of contact that knows them or their clients.

“At Allica, we recognise how powerful the combination of business owner, accountant and bank manager can be. And I can’t wait to expand our partnerships team and offering as we continue to grow.”

Andrew Pittams, Commercial Director at the ICAEW, said, “At ICAEW we support our members with the latest trends and updates facing the industry, and this includes the role digital banking plays in their business. We know from our members the significance of receiving dedicated support from banks in today’s landscape so we are pleased to work with Allica Bank.”