About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Challenger Bank Allica Selects London Start-Up Sphonic for Financial Crime Compliance

Subscribe to our newsletter

Allica Bank, a digital challenger bank first launched in 2020 to focus on small businesses underserved by mainstream institutions, has selected a financial crime product suite from London-based Regtech firm Sphonic’s to support its compliance function.

Sphonic, first formed in 2012 with the creation of its core product Workflow Manager (WFM), acts as a Data Orchestration Platform, leveraging data insights from over 85 global risk management services through an intelligent workflow engine. In addition to removing the complexity of multiple integrations, the platform leverages data from vendor calls in a workflow designed to improve the customer onboarding journey, eradicate risk and drive approval rates.

For Allica, Sphonic will provide real-time KYB (Know Your Business) and KYC services via a single API. Allica will also launch Sphonic’s AML Transactional Monitoring System to profile illicit activity across the bank’s various products, which it will be able to review through real-time actionable insights via Sphonic’s Case Management tool.

Andy Lee, Founder of Sphonic, says, “Supporting Allica with our broad suite of financial crime products, including our newly launched AML transactional monitoring solution, will provide a long-term future-proofed technology stack that will scale as they will inevitably do. Sphonic has been regularly supporting the Fintech and Challenger Banking community with our innovative product suite for which our technology has seen renewed interest throughout the Covid 19 pandemic.”

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Sponsored by FundGuard: NAV Resilience Under DORA, A Year of Lessons Learned

Date: 25 February 2026 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes The EU’s Digital Operational Resilience Act (DORA) came into force a year ago, and is reshaping how asset managers, asset owners and fund service providers think about operational risk. While DORA’s focus is squarely on ICT resilience and third-party...

BLOG

AI in Action: 11 Firms Rewiring Compliance for Speed, Clarity and Control

Regulatory change isn’t slowing, and neither is the demand for defensible decisions. Compliance teams need tools that are clear about what they do, how they’re governed, and where their limits are. LLMs and agentic AI in compliance will feature in A-Team Group’s RegTech Summits in London (16 October) and New York City (20 November) with...

EVENT

Eagle Alpha Alternative Data Conference, Spring, New York, hosted by A-Team Group

Now in its 8th year, the Eagle Alpha Alternative Data Conference managed by A-Team Group, is the premier content forum and networking event for investment firms and hedge funds.

GUIDE

Regulatory Data Handbook 2025 – Thirteenth Edition

Welcome to the thirteenth edition of A-Team Group’s Regulatory Data Handbook, a unique and practical guide to capital markets regulation, regulatory change, and the data and data management requirements of compliance across Europe, the UK, US and Asia-Pacific. This year’s edition lands at a moment of accelerating regulatory divergence and intensifying data focused supervision. Inside,...