OakNorth vs Allica Bank
short answerBoth are traditional neobanks with similar positioning — the real differences are FX markup, fees, license and geography, compared field by field below.
OakNorth: Profitable SMB lender-bank.
Allica Bank: Established-SMB challenger bank.
Side by side
| OakNorth | Allica Bank | |
|---|---|---|
| Category | traditional | traditional |
| Audience | SMB & startups | SMB & startups |
| HQ | London, UK | Milton Keynes, UK |
| Founded | 2015 | 2019 |
| Custody | Custodial | Custodial |
| Regulation | Licensed bank | Licensed bank |
| License detail | Full UK banking license (PRA/FCA, 2015) | Full UK banking license (PRA/FCA authorised) |
| Card | No card | MC · Business |
| Cashback | — | — |
| Yield | Competitive savers | Rewards account |
| FX markup | — | — |
| Services | — | — |
| Stablecoins | No | No |
| KYC | Yes | Yes |
| Regions | Europe | Europe |
| Reported users | — | — |
go deeperFull profiles: OakNorth · Allica Bank — or run your own comparison of up to four in the directory.
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.