Latest news with #SophieHossack
Yahoo
16-05-2025
- Business
- Yahoo
Allica Bank integrates QuickBooks to improve SME management
UK's Allica Bank has integrated Intuit's accounting software platform QuickBooks, to improve financial management for small and medium-sized enterprises (SMEs). As part of this integration, Holders of Allica's Business Rewards Account can now link their accounts with QuickBooks, allowing for automatic updates of transactions. The integration will deliver real-time financial visibility, thereby reducing the need for manual data entry and minimising errors. Allica Bank said this alliance is in line with its objective to enhance banking services for established SMEs, particularly those employing between 5 to 250 staff members. This segment has often been neglected by conventional high street banks, making this collaboration notably important, the company noted. By facilitating automatic syncing, the integration aims to lessen administrative burdens, enabling business owners and accountants to focus on strategic development. This transition is expected to improve decision-making through enhanced 'accuracy and efficiency'. Allica Bank Partnerships head Sophie Hossack said: 'We're incredibly excited to launch our integration with QuickBooks! By partnering with a leading accounting platform, we are helping businesses and accountants to focus more on what matters with quick and efficient technology. 'Time is a valuable resource for business owners and we will continue to simplify business banking to ensure we deliver a meaningful and impactful service to established SMEs across the UK. 'A core focus of our partnerships team is to strengthen the collaboration between accountants and Allica as we believe it is crucial for SME success. The integration plays a key part in this as it empowers businesses with the financial insights and support needed to thrive whilst also simplifying processes for their accountants.' In March 2025, Allica Bank has announced plans to double the size of its accountancy partnerships team, increasing the headcount to 16. This expansion comes less than a year after the team was first established. The team, which is led by Sophie Hossack and Richard Williams, offers 'personalised and dedicated' support to accountants and their established SME clients. "Allica Bank integrates QuickBooks to improve SME management" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
14-05-2025
- Business
- Finextra
Allica Bank connects customers with QuickBooks
Allica Bank, the UK's fastest-growing company, has announced a new integration with QuickBooks, a leading accounting software platform widely used by SMEs. 0 From May 14th, Allica Business Rewards Account customers can connect their accounts directly to QuickBooks, enabling automatic transaction syncing. This real-time connection will provide business owners and their accountants with an up-to-date view of their finances, reducing manual data entry and the potential for error. The integration builds on Allica's mission to transform business banking for established SMEs - those businesses with between 5 to 250 employees - a sector often overlooked by high street banks. The new integration will also enable businesses and their accountants to reduce admin, increase accuracy and make quicker decisions. It means less time crunching numbers and more time focusing on business strategy and growth. Sophie Hossack, Head of Partnerships at Allica Bank, said: "We're incredibly excited to launch our integration with QuickBooks! By partnering with a leading accounting platform, we are helping businesses and accountants to focus more on what matters with quick and efficient technology. Time is a valuable resource for business owners and we will continue to simplify business banking to ensure we deliver a meaningful and impactful service to established SMEs across the UK.' 'A core focus of our partnerships team is to strengthen the collaboration between accountants and Allica as we believe it is crucial for SME success. The integration plays a key part in this as it empowers businesses with the financial insights and support needed to thrive whilst also simplifying processes for their accountants.' Nick Williams, International Product Director at Intuit, added: "This integration with Allica Bank enables a seamless connection with Allica's Business Rewards Account, making it easier for business owners to manage their finances and communicate more effectively with accountants. From starting up, to scaling and beyond, the Intuit platform puts everything in one place to run and grow a business, from lead to cash. This means customers can direct their efforts elsewhere without worrying about tedious administrative tasks.' This partnership reinforces Allica Bank's ambition to transform business banking for established SMEs by making their banking more rewarding, powerful, and human for established businesses. Earlier this year it revealed that the success of its relationship and technology-based model means it will be tripling the size of its relationship manager team in 2025, alongside doubling its dedicated accountancy partnerships team, with the ambition to achieve a 10% share of the established SME market by 2027.
Yahoo
21-03-2025
- Business
- Yahoo
UK's Allica Bank to double accountancy partnerships team
UK-based Allica Bank has announced plans to double the size of its accountancy partnerships team, increasing the headcount to 16. This expansion comes less than a year after the team was first established. The team, which is led by Sophie Hossack and Richard Williams, offers 'personalised and dedicated' support to accountants and their established SME clients. The expansion follows Allica Bank's survey of more than 70 UK accountancy firms, revealing that businesses are eager for advice but unsure where to turn. As a result, 36% of accountants report being asked for business guidance by clients daily. In addition to the expansion, Simon Lofts has been promoted to national key accounts manager. Lofts will now work closely with national 'Top 20' firms, which represent a significant number of SMEs across the UK, the company said. He will be responsible to streamline client onboarding and banking relationships, ensuring a direct line to the essential banking services for established SMEs nationwide. Lofts brings extensive experience from the accounting technology sector, having previously held significant roles at ICAEW, Xero, and Coconut. Allica Bank partnerships head Sophie Hossack said: 'Our accountancy partnerships team has spoken with over 1,000 accountancy firms across the UK, hearing the frustrations and challenges they and their clients face when it comes to banking.' 'It used to be the case that businesses, regardless of their size, would have had a local relationship manager, supporting them with banking and broader business needs. While the demand for this level of customer support is still there, many high-street banks have withdrawn from serving established SMEs and taken away their relationship managers. 'This 'gap in the market' means accountants are increasingly key advisors to the businesses they work with. Crucial to supporting accountants in this role, and ultimately supporting the established SMEs they work with, is equipping accountants with the resources they need to offer this advice. 'Our team aims to give accountants this support to and help them unlock huge value for established SMEs, from market insights to better products and more personalised help,' Hossack added. The announcement comes on the back of Allica Bank recently revealing that it had provided more than £3bn ($3.9bn) in loans to established UK businesses and raised more than £4bn in customer deposits during 2024. "UK's Allica Bank to double accountancy partnerships team " was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
