Aldermore consults on job cuts as it retreats from invoice finance

This move follows Aldermore's previous exit from the invoice finance market. In 2023, the bank sold its Working Capital Finance (WCF) division, which offered invoice discounting and factoring to UK SMEs, to Bibby Financial Services. Existing customers were migrated to Bibby's platform.

However, Aldermore subsequently re-entered the market in August 2025 with a new receivables finance product. This new offering is distinct from the previous WCF division, targeting mid-market SMEs with higher turnover thresholds and benefiting from Growth Guarantee Scheme accreditation, which provides a government guarantee on qualifying facilities up to £2 million. The new product is backed by its owner, the South African banking group FirstRand.

The UK invoice finance market has experienced significant consolidation, with at least seven providers exiting or entering administration between 2020 and 2026, including Aldermore's WCF division sale.