Modern Slavery Statement 2024



This statement is made pursuant to section 54 of the Modern Slavery Act 2015. It constitutes Allica Bank Limited’s modern slavery and human trafficking statement for the financial year ending December 2023. Allica Bank Limited ("Allica") takes a zero-tolerance approach to slavery and human trafficking.

Our Organisation

Allica is a business bank that offers customers access to banking experts, finance solutions and effortless digital banking. We are committed to being dependable, expertly attentive and helping businesses to succeed. Our operations are based in the UK, and our head office is located at 4th Floor, 164 Bishopsgate, London EC2M 4LX. We employ over 550 people across the UK and India and details about our organisational structure, governance and performance can be found in our 2023 Annual Report. We will continue to work hard to ensure that modern slavery and human trafficking do not take place in our business or supply chains.

This statement is applicable to Allica and its subsidiaries.

Our Business

Allica aims to help its customers achieve success with Business Relationship Managers, reliable digital banking, business loans and deposits. Our offering is primarily largely digital and we do not operate any physical branches. Given the nature of our work, we do not operate in any areas considered to be at a high risk of modern slavery or human trafficking, but we are mindful and remain vigilant to ensure that we stay ahead of the risk.

Our Supply Chains

We source goods and services from suppliers including IT services, professional services and facilities. We will continue to monitor our suppliers to make sure that they comply with all relevant regulatory requirements and act in line with our core values.

Our Policies

We believe in acting ethically and with integrity in all our business relationships and we are implementing and enforcing effective systems and controls to ensure slavery and human trafficking is not taking place anywhere in our business or supply chains. We operate a number of policies to facilitate this including our Vendor Management, Financial Crime, Anti-bribery & Corruption and Whistleblowing Policies.

Due Diligence

We engage with our suppliers to identify and mitigate any risk of human trafficking or modern slavery in our supply chain and continue to monitor those risks during the performance of those relationships.


We run an annual mandatory training programme for all our employees. This ensures that all our staff are familiar with our values and understand the level of conduct that is expected of them.


Richard Davies, CEO