Editor's note

Welcome to our December edition!

This edition appears as governments across Europe and the UK impose fresh restrictions in a bid to lessen transmission of Omicron, the new Covid variant, which can be expected to have a knock-on effect on businesses.

This month’s main feature considers UK-based SME lender Allica Bank and its quest for the Holy Grail of business bankers: a digital solution for turning a profit from financing SMEs underserved by the high street banks.

One banking analyst we spoke to believes Allica is well placed to find this sought-after prize thanks to its digital investments and data-driven agenda “which compares favourably with competitor propositions.”

The FCA has recently stepped in to offer a temporary stay of execution of LIBOR, the interest rate that underpins about $350 trillion in financial contracts worldwide. Lessors dealing in contracts denominated in foreign currencies will be keeping a keen eye on how ‘synthetic’ and alternative rates to LIBOR (mis)behave from 1 January. Our feature considers the risks involved from the LIBOR transition, which is not minimal by any stretch of the imagination.

Also, we have a country report on France, and a motor finance review of 2021 and we look at the green challenges for the world’s top financial services companies.

Alejandro Gonzalez, Editor