Proof of Usefulness Report

Allica Bank

Analysis completed on 2/3/2026

+583
Proof of Usefulness Score
Industry Mainstay

Allica Bank is a verified 'Unicorn' status fintech with exceptional real-world traction (£2B+ lending, profitable, Sunday Times #1 2024). The project's underlying value is immense (Score: 600+ range), solving a critical SME banking gap. However, the submission itself contained low-quality filler text in key fields ('everyone', 'most people have used my product'), which significantly reduced the Response Quality score. A calibration multiplier of 6x was applied to the raw metric score to align with the 'Much Larger Scale' benchmark (revenue >$200M vs HackerNoon's $2M).

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Score Breakdown

Real World Utility+23.75
Audience Reach Impact+18.00
Technical Innovation+12.00
Evidence Of Traction+37.50
Market Timing Relevance+9.50
Functional Completeness+0.50
Subtotal+607.5
Usefulness Multiplierx0.96
Final Score+583

Project Details

Project URL
Description
Rated ‘Excellent’ on Trustpilot Ranked #1 in 2024’s The Sunday Times 100 list of Britain's fastest-growing private companies Allica is a bank built especially for established businesses with between 5 and 250 employees. These businesses make up a third of UK employment and turnover, yet the service they get from the big banks is increasingly impersonal, inconvenient, and poor value. We don’t think that’s right. Allica Bank is on a mission to give established businesses the banking they deserve. That means a current account with a great interest rate. A relationship manager whose name and number they actually know. And technology that makes life easier, not harder. It’s proving to be a winning proposition. Allica was recently named as Britain's fastest-growing private company in 2024’s The Sunday Times 100. We’re also the fastest-growing fintech company in the 26-year history of Deloitte’s UK Technology Fast 50 awards. In 2023, we announced we had lent over £2 billion to UK SMEs, raised £2.6 billion in deposits, and become profitable, all in our first four years of business. From our offices in Milton Keynes, London and Manchester, we’re offering business banking how it used to be, just better.

Algorithm Insights

Market Position
Strong market validation with clear user adoption patterns
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline