Tandem Bank

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.

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

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

• Digital savings accounts
• Cash isa products
• Green mortgage lending
• Home improvement loans
• Motor finance services

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. 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.
2. 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

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core 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

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration17 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Climate Impact PartnerscoreStrategic or Co-development Partner · 1 January 2025Tandem 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.
• TrueLayercoreTechnology or IntegrationTrueLayer 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 LtdcoreTechnology or IntegrationConsents 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.
• ZutocoreChannel Partner/ Reseller/ DistributorZuto 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 FundingcoreChannel Partner/ Reseller/ DistributorEvolution 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.
• CarFinance247coreChannel Partner/ Reseller/ DistributorCarFinance247 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 GreencoreChannel Partner/ Reseller/ DistributorDrive 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 LtdminorGTM or Marketing PartnerGeneral 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

Direct 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

• Xx.com/Tandem_Bank

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tandem Bank