Allica Bank has announced a major rebrand as it looks to cement its position in the UK’s SME banking market. The refresh includes a new logo featuring a bright orange bowler hat, replacing the previous shield emblem, alongside an updated website and colour scheme.
The move comes as part of a broader strategy to expand its market share in business banking, with the goal of capturing 10% of the established SME segment within the next five years. Allica, which serves established businesses with 5-250 employees, has seen rapid growth since issuing its first loan in March 2020, amassing £4 billion in customer deposits and lending out £3 billion to SMEs.
Headquartered in London and Milton Keynes, Allica has positioned itself as a challenger to traditional banks by offering a mix of relationship-driven banking and modern technology. The bank reported that it doubled its brand awareness in 2024 and was recognised as the fastest-growing fintech in the UK by Deloitte’s UK Technology Fast 50 Awards. It also topped the Sunday Times’ list of Britain’s fastest-growing private companies and was named the fastest-growing start-up in Europe by Sifted.
CEO Richard Davies highlighted the bank’s commitment to addressing gaps left by mainstream financial institutions.
“Established businesses are the engine of the UK’s economy, contributing a third of employment and GDP. But they’ve long been let down by the big banks with an impersonal service, legacy technology, and poor value,” he said. “Our new brand identity and logo reflect that Allica is doubling down on our commitment to giving our customers access to tailored expertise and support, alongside making their banking rewarding and powerful in a way it has never been before.”
Allica’s approach to SME banking combines traditional relationship banking with digital tools and financial incentives. The bank’s business account offers cashback and savings interest, aiming to provide tangible benefits to account holders.
The updated branding includes a distinct orange colour palette and the bowler hat symbol, initially introduced in a 2023 marketing campaign. The bank said the icon resonated strongly with customers and partners, leading to its permanent adoption.
Chloe Fenton, Allica’s Head of Marketing, explained the rationale behind the refresh:
“By refreshing our brand identity and bringing the orange bowler hat into our logo, we hope this will help us reach an even wider pool of business owners that would benefit from a more rewarding and powerful banking partner.”
