Tandem Bank
Tandem Bank is a UK digital challenger bank offering green-oriented savings products, specialist mortgages, motor finance, and home improvement loans to retail consumers, brokers, and dealerships through its mobile app, Tandem Connect broker platform, and dealer network.
- Company typePrivate
- Founded2014
- HeadquartersLondon, United Kingdom
- Headcount51–100
- GTM typeB2C
- OfferingServices
What Tandem Bank does
Tandem Bank is a UK-based digital challenger bank founded in 2014, headquartered in Blackpool (registered office: Viscount Court, Sir Frank Whittle Way, FY4 2FB) with a London contact office. The bank operates through a group structure with Tandem Money Limited as parent and wholly-owned subsidiaries spanning savings (Tandem Money), mortgages and home improvement loans (Tandem Home Loans), motor finance (Tandem Motor Finance / Allium Money), personal loans (Tandem Personal Loans), legacy consumer credit (GDFC Assets, GDFC Services), and the 2022-acquired Oplo brand. Tandem Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (FRN: 204479), with retail savings deposits protected by the FSCS up to £85,000.
The product portfolio is bifurcated into retail savings and specialist lending, unified by an explicit 'green' or 'pathway-to-green' thesis. Savings products include the Instant Access Cash ISA (4.00% AER), Fixed Rate Cash ISA (up to 4.45% AER), Instant Access Saver (3.40% AER), and Fixed Term Saver (up to 4.45% AER). Lending products include residential mortgages up to £750k and 90% LTV (with EPC-linked rate discounts and specialist adverse-credit criteria), home improvement loans, home loans, and Hire Purchase motor finance for used vehicles (terms up to 5-6 years). The technology stack combines Open Banking integration via TrueLayer and Consents Online, automated underwriting for motor finance with same-day dealer payouts, a proprietary 'Fair View' credit assessment for non-prime borrowers (considering CCJs, defaults, and adverse credit), a Green Hub customer engagement platform for solar panels, heat pumps, windows, and boilers, and the Tandem Connect broker platform that automates mortgage case processing. Credit referencing is performed via TransUnion, Equifax, and Experian, with fraud prevention via Cifas.
The business model funds lending through retail deposit gathering and earns net interest income on originated loans, supplemented by mortgage broker commissions and motor finance dealer commissions. Distribution is multi-channel: direct-to-consumer via the Tandem mobile app (iOS/Android) and website serving 150,000+ customers; intermediary-only mortgages via Tandem Connect; and motor finance via a used-car dealer network and specialist broker partners. Scale metrics entering 2026 include over £1.5bn in assets, 150,000+ app customers, 94,000+ customers supported through green lending, £572m+ in green and pathway-to-green lending originated in 2024, a motor finance book that grew from £18.2m to £224m+, and 40% YoY growth with sustained profitability reported in 2024. Geographic reach is UK-only.
Tandem Bank firmographics
Firmographics- Name
- Tandem Bank
- Legal name
- Tandem Bank Limited
- Website
- https://tandem.co.uk
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Tandem Bank is a UK digital challenger bank offering green-oriented savings products, specialist mortgages, motor finance, and home improvement loans to retail consumers, brokers, and dealerships through its mobile app, Tandem Connect broker platform, and dealer network.
- Ownership category
- akta.pro rank
Tandem Bank industry classification
Industry- Product category
- Digital Retail Banking
- NAICS
- Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (52218), Sales Financing (522220)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB)
- akta.pro secondary industries
- Second-Chance Banking-Linked Lending (e.g., bank-account-based credit for thin-file/negative-file) (FSAKAOAH), Direct-to-Consumer (D2C) Personal Lending Platforms (Unsecured Installment) (FSAKAAAK)
Keywords
Where Tandem Bank is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices3 records
Markets served
Tandem Bank business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- Interest Income from Green Lending: Tandem earns interest income from its portfolio of green and pathway-to-green loans including mortgages, home improvement loans, home loans, and motor finance. The bank's lending book has grown from £18.2m to over £224m in motor finance alone, with £572m+ in total green and pathway-to-green lending in 2024.
- Savings Deposit Taking: Tandem accepts deposits from retail customers via savings accounts and Cash ISAs. These deposits are used to fund the bank's green lending activities. Interest paid to savers at rates up to 4.45% AER.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Instant Access Cash ISA – 4.00% AER Variable, Tax-Free |
| Subscription | Annual | Fixed Rate Cash ISA – Up to 4.45% AER, Tax-Free |
| Subscription | Monthly | Instant Access Saver – 3.40% AER Variable |
| Subscription | Annual | Fixed Term Saver – Up to 4.45% AER |
| Other | Monthly | Residential Mortgages – Max LTV 90%, up to £750k |
| Transaction based/ take rate | Monthly | Motor Finance – Hire Purchase up to 5 years |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels7 records
Tandem Bank product offering
Product offeringCore offering
Tandem Bank is a UK digital challenger bank that accepts retail deposits through Cash ISAs and savings accounts and lends those deposits back out as green and specialist mortgages, home improvement loans, home loans and Hire Purchase motor finance. Lending and savings activity is explicitly oriented around sustainability, with customer deposits funding the green and pathway-to-green lending book and products aligned to the EU Green Taxonomy.
Product overview
Tandem Bank is a UK digital challenger bank built around a green/sustainability mission. The product portfolio consists of a unified banking platform offering both savings products (Cash ISAs and Saver accounts with variable and fixed rates) and lending products (mortgages, home loans, home improvement loans, and motor finance). Products are distributed through multiple channels including a mobile app, broker partnerships (via Tandem Connect platform), and dealer networks for motor finance. A key differentiator is the Green Hub, a customer engagement tool that connects green financial products with sustainable living resources (solar, heat pumps, windows, boilers). The bank positions itself as a 'greener digital bank' where customer deposits fund green and pathway-to-green lending, creating a direct link between savings and environmental impact. The company operates under multiple brands within the Tandem Group including Allium Money (motor finance) and Oplo (legacy lending brands).
Differentiator
Problem solved
Functional benefit
Brands
- Allium Money Limited: Handles motor finance dealer centre operations and used car financing, offering HP finance up to 5 years for hybrid vehicles, electric vehicles, and other used vehicles under 13 years old.
- Green Hub
Products and services
- Instant Access Cash ISA Variable-rate tax-free Cash ISA paying 4.00% AER with a Top Up feature, 24/7 access via the Tandem app, and monthly interest payments. For UK retail savers.
- Fixed Rate Cash ISA Fixed-rate tax-free Cash ISA offering up to 4.45% AER with fixed monthly interest; early withdrawal penalty applies. For UK retail savers.
- Instant Access Saver Variable-rate savings account paying 3.40% AER with Top Up, unlimited withdrawals and deposits, and 24/7 access via the Tandem app. For UK retail savers who have maxed their ISA allowance.
- Fixed Term Saver Fixed-rate savings account offering up to 4.45% AER with no withdrawals permitted during the term and 14 days to fund the account. For UK retail savers who have maxed their ISA allowance.
- Residential Mortgages First-charge residential mortgages up to £750k with max 90% LTV for first-time buyers, home movers and remortgages, including adverse-credit and self-employed borrowers using the Fair View Credit Assessment. Up to 0.30% EPC rate discount for A-rated homes. Distributed exclusively through registered mortgage intermediaries.
- Home Loans Secured home loans for significant household expenses with rate discounts available where the property meets energy-efficiency criteria. Available through trusted brokers and partners. For UK consumers.
- Home Improvement Loans Finance for home energy-efficiency upgrades including solar panels, air source heat pumps, energy-efficient windows and boilers. Part of Tandem's green lending proposition supporting the UK's low-carbon transition. For UK homeowners.
- Motor Finance (Hire Purchase) Hire Purchase motor finance for used vehicles including hybrids and EVs (under 13 years old), terms up to 5 years (6 years for qualifying customers), fixed monthly payments and instant automated decisions. Provided by Allium Money Limited through approved used-car dealers and specialist motor brokers. For UK consumers purchasing a used, lower-emission vehicle.
- Green Hub Online hub offering customers and non-customers tools, insight, expertise and finance options to support the green transition, covering solar panels, air source heat pumps, energy-efficient windows and boilers. Available to both existing customers and the general UK public.
Quantifiable outcome
- £572m+ in green and 'pathway to green' lending in 2024
- +7 more outcomes
Companies that use Tandem Bank
Customer profileNamed customers7 records
Segments3 records
Ideal customer profiles3 records
Tandem Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration17 records
Feature5 records
Tandem Bank partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and minor.
- Climate Impact PartnerscoreTandem partnered with Climate Impact Partners to offset all its operational emissions for fiscal year 2024. The partnership funded solar energy projects in Kenya and Uganda, providing microfinance-enabled solar systems to low-income households. This supports Tandem's net zero by 2030 (Scope 1 and 2) and 2050 (Scope 3) targets.
- TrueLayercoreTrueLayer serves as Tandem's Open Banking partner for savings products, enabling verification of ownership of current accounts linked to Tandem savings accounts. TrueLayer provides account information and transaction data securely via open API.
- Consents Online LtdcoreConsents Online Ltd is one of Tandem's Open Banking Partners used for payment, aggregation, and verification of ownership of the current account a customer links to their Tandem account.
- ZutocoreZuto is a motor finance broker partner that offers Tandem's financing products. Zuto praised Tandem for its innovative banking experience and commitment to sustainable working practices aligned with Zuto's own values.
- Evolution FundingcoreEvolution Funding is a motor finance broker partner using Tandem's API to deliver reliable consumer outcomes. Their representative noted Tandem's API is modern and reliable, supporting best-in-class consumer outcomes.
- CarFinance247coreCarFinance247 is a motor finance broker partner of Tandem. They highlighted Tandem's pace in the commercial arena and noted the team is always contactable at short notice to work through new initiatives.
- Drive GreencoreDrive Green is a sustainable, eco-conscious motor finance broker partnered with Tandem. Drive Green noted Tandem as an organisation with a green culture at its core, genuinely working with eco-goals as a priority.
- General Insurance Distribution LtdminorGeneral Insurance Distribution Ltd, a motor insurance product provider, receives customer details from Tandem when a customer takes out motor finance. This enables targeted insurance product marketing, subject to the customer's marketing preferences.
Scale indicators10 records
Recent moves6 records
Expansion highlights4 records
Tandem Bank competitors and assessment
Company assessmentDirect peers
- Atom Bank: UK digital challenger bank focused on residential mortgages and savings. Comparable to Tandem in being an app-based challenger with a specialist mortgage proposition (Atom also targets self-employed and higher-LTV borrowers) and a similar AUM scale, making it the closest direct peer in the UK market.
- Allica Bank: UK challenger bank serving SMEs and consumers with savings and specialist lending products. Comparable to Tandem as a profitable, growth-stage UK challenger with a similar deposit-funded lending model and mid-market employee base.
- Shawbrook Bank: UK challenger bank specialising in specialist mortgages, savings, and commercial lending. Comparable to Tandem in offering specialist residential and buy-to-let mortgages via intermediaries, plus savings products to fund the lending book.
- Starling Bank: UK digital challenger bank offering current accounts, savings, and SME lending via a mobile app. Comparable to Tandem in digital-first UK retail banking model, deposit-taking, and FCA/PRA authorisation.
- Zopa: UK digital bank offering savings accounts, credit cards, and personal loans via a mobile app. Comparable to Tandem in being a UK digital bank with deposit-taking and consumer lending, though more focused on unsecured personal loans.
- Monzo: UK digital challenger bank serving consumers with app-based current accounts, savings, and lending. Comparable to Tandem in being a UK-regulated digital retail bank, though materially larger in customer base.
Broad incumbents
- OakNorth Bank: UK challenger bank focused on SME and commercial property lending funded by retail and institutional deposits. Comparable to Tandem as a profitable, specialist UK challenger bank with diversified deposit and lending operations.
- Metro Bank: UK high-street and digital bank offering current accounts, savings, mortgages, and commercial lending. Comparable to Tandem in offering the full UK retail banking stack, though at much larger scale and with physical branches.
- Aldermore: UK challenger bank (now owned by First Trust Bank) specialising in savings, mortgages, and SME lending. Comparable to Tandem in deposit-funded specialist lending, with a similar focus on underserved segments.
Emerging players
- Castle Trust: UK specialist lender offering savings products alongside residential and development lending. Comparable to Tandem in the deposit-funded specialist lending model and target customer overlap (self-employed, complex income).
Market position
Strengths4 records
Weaknesses4 records
Key risks6 records
Key highlights6 records
Customer concentration
Tandem Bank social profiles
Digital presenceTandem Bank compliance and trust
Trust signalCompliance7 records
Tandem Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Tandem Bank leadership team
Management profileNumber of profiles
Profiles8 records
Tandem Bank subsidiaries and ownership
Company hierarchySubsidiaries9 records
Tandem Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Tandem Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Tandem Bank
What does Tandem Bank do?
Tandem Bank is a UK digital challenger bank that accepts retail deposits through Cash ISAs and savings accounts and lends those deposits back out as green and specialist mortgages, home improvement loans, home loans and Hire Purchase motor finance. Lending and savings activity is explicitly oriented around sustainability, with customer deposits funding the green and pathway-to-green lending book and products aligned to the EU Green Taxonomy.
Is Tandem Bank a public or private company?
Tandem Bank is a private company. It is classified as management employee owned and is currently operating.
When was Tandem Bank founded?
Tandem Bank was founded in 2014. It employs 51 to 100 people.
Where is Tandem Bank based?
Tandem Bank is headquartered in London, United Kingdom, in the Europe region.
How does Tandem Bank make money?
Two revenue lines are on record. Interest Income from Green Lending is the primary driver. The others are savings Deposit Taking.
Who are Tandem Bank's main competitors?
Direct peers on record are Atom Bank, Allica Bank, Shawbrook Bank, Starling Bank, Zopa and Monzo. Broad incumbents are OakNorth Bank, Metro Bank and Aldermore. Castle Trust is listed as an emerging player.
Does Tandem Bank have an API?
No public API is recorded for Tandem Bank.
What industry is Tandem Bank in?
Tandem Bank's product category is Digital Retail Banking. Its primary akta.pro industry code is FSABAAAB, Retail Lending (Personal Loans, Auto, Credit Lines), with a secondary code of FSAKAOAH, Second-Chance Banking-Linked Lending (e.g., bank-account-based credit for thin-file/negative-file). Its NAICS code is 5221 and its SIC code is 6141.