UK challenger Tandem Bank announces Hong Kong expansion
UK challenger bank Tandem has announced an international expansion with a Hong Kong launch planned to occur before the end of the year.
To support its upcoming launch the bank is aiming to replicate its founders programme, which saw 11,000 supporters help develop the bank in the UK through testing products and services.
Hong Kong members of the “Co-Founders” club will receive a specially-branded card and will be eligible to participate in a bonus rewards scheme.
“This is an extremely exciting step for Tandem and our first move into international markets,” says Ricky Knox, CEO and co-founder of Tandem Bank.
“Our innovative products and services are perfectly suited to the market here in Hong Kong and we can’t wait to be able to share Tandem with the Hong Kong consumer.”
Convoy Global Holdings, one of the largest independent insurance and brokerage firm in Hong Kong, supported the Tandem expansion. Knox describes the relationship between the two firms as “key” in bringing the challenger to the autonomous territory.
Convoy Global invested $15 million in Tandem in November 2018, when FinTech Futures reported that the two would be working on the launch of a new virtual bank.
Read more: Tandem Bank partners with Stripe