Allica Bank partners with Acquis Lumia platform for asset finance monitoring

From Yahoo Finance: 2025-05-16 10:27:00

Allica Bank joins Acquis Data Services’ Lumia platform for asset finance monitoring, becoming the 38th company on board. Launched in 2022, Lumia allows companies to track asset finance arrangements. Allica Bank, focused on SMEs, introduced its asset finance product in 2021, providing over £650m in finance by 2021’s end. The bank aims for £1bn by 2025 and has lent over £3bn overall to UK businesses. Profit after tax rose by 55.2% to £29.8m in 2024, with gross revenue at £292.1m. Acquis Data Services’ director is pleased with Allica Bank’s exponential growth and the enhanced fraud prevention capabilities of the platform. Last month, the platform introduced a “portfolio monitoring” feature to track borrowing changes throughout agreements.



Read more at Yahoo Finance: Allica Bank joins Acquis Lumia platform for asset finance monitoring