UK challenger bank Tandem eyes IPO
UK digital challenger bank Tandem has got its young beating heart set on an IPO within the next few years.
In a brief written and video update, it looks to the future and the past. For example, it cites its recent $15 million investment from Hong Kong for Asian market expansion plans.
Looking ahead, the bank says: “Tandem’s unexpectedly high customer base growth figures have got many people talking about the potential route to IPO over the next few years.”
That’s about it for now on the IPO, but in the video it does specifically mention that this year it plans to enhance its credit card offering – and bring in paperless statements, Google Pay and Apple pay, and eligibility checkers to avoid impacting credit scores.
In addition, it will scale up its auto savings product and is on a major recruitment drive.
Tandem explains: “One of our biggest challenges is hiring lots of talented new people this year. LOTS.”
Some of the roles on offer include credit risk analyst, financial crime data analyst, fraud investigator, compliance & money laundering reporting manager, Android engineer, solutions architect, and an iOS engineer.
The bank also took time to look back at 2018. It says it grew from a standing start to nearly half a million customers and launched six new banking products. The latter included fixed term savings accounts, loans, mortgages and credit cards.
As an app-based bank it says it releases updates to the Android and iOS apps every couple of weeks.
It will shortly be moving from its London offices in King’s Cross to a larger place in Russell Square as it seeks to grow from around 130 staff to 160 over the course of 2019.
You can read more about Tandem and all the other UK challenger banks here.