{"id":5698,"date":"2018-03-16T08:12:08","date_gmt":"2018-03-16T08:12:08","guid":{"rendered":"https:\/\/insights.invyo.io\/europe\/?p=5698"},"modified":"2019-07-30T14:34:56","modified_gmt":"2019-07-30T14:34:56","slug":"will-2018-be-the-year-for-uk-based-challenger-bank-tandem","status":"publish","type":"post","link":"https:\/\/insights.invyo.io\/europe\/industries\/finance\/neobank-baas\/will-2018-be-the-year-for-uk-based-challenger-bank-tandem\/","title":{"rendered":"Will 2018 be the year for UK-based challenger bank Tandem?"},"content":{"rendered":"<p><strong>The year 2018 could not start better for Tandem, a digital challenger bank based in the UK that is pursuing a different strategy compared to other players on the market.<\/strong><\/p>\n<p><a href=\"https:\/\/tandem.co.uk\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Tandem<\/strong><\/a>\u00a0is a London-based Fintech that was founded in 2013 by\u00a0Matt Cooper, Michael Kent and Ricky Knox, and that raised a total of <strong>$145+ million<\/strong> so far.<\/p>\n<p>The digital bank has been quiet on the <strong>product development side<\/strong> since its launch in 2013. The first product was launched last February 2018 to the public, a <strong>credit card<\/strong> connected to the <strong>mobile app<\/strong>, that cashback <strong>0.5%<\/strong>\u00a0to users and has <strong>no fees<\/strong> when being used abroad.<\/p>\n<p>Tandem is however running after something else. It indeed announced various <strong>unexpected acquisitions<\/strong>\u00a0in the last months. Last summer for exemple, the company announced the <strong>acquisition of Harrods Bank<\/strong> that was officially approved by UK&#8217;s regulators in December.<\/p>\n<p>In a statement to <strong>City A.M.<\/strong>, Ricky Knox, CEO of Tandem, said:<\/p>\n<blockquote><p>&#8220;This puts us miles ahead of Monzo and Starling. We&#8217;ll be quite possibly the largest challenger bank by assets and the biggest by revenue.&#8221;<\/p><\/blockquote>\n<p>More recently, Tandem announced the acquisition of Pariti,\u00a0a UK-based <strong>money management application platform<\/strong> that lets customers <strong>pilot their savings<\/strong>.<\/p>\n<p>Tandem&#8217;s <strong>aggressive strategy<\/strong> to &#8220;push revenues into the double digit millions this year&#8221; is going against most strategies pursued by challenger banks like the Monzo or the Starling Bank that are focusing on <strong>community building<\/strong> and their portfolio of <strong>self-developed financial products<\/strong>.<\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The year 2018 could not start better for Tandem, a digital challenger bank based in the UK that is pursuing a different strategy compared to other players on the market. Tandem\u00a0is a London-based Fintech that was founded in 2013 by\u00a0Matt Cooper, Michael Kent and Ricky Knox, and that raised a total of $145+ million so [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":5746,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2181],"tags":[1354,1754,1948,1904,578,1015,280,812,1944,320,1352,1674,325,1946,935,977,265,1351,1945,821,1947,603,184],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Will 2018 be the year for UK-based challenger bank Tandem? - INVYO Insights Europe : Media Fintech<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insights.invyo.io\/europe\/industries\/finance\/neobank-baas\/will-2018-be-the-year-for-uk-based-challenger-bank-tandem\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Will 2018 be the year for UK-based challenger bank Tandem? - INVYO Insights Europe : Media Fintech\" \/>\n<meta property=\"og:description\" content=\"The year 2018 could not start better for Tandem, a digital challenger bank based in the UK that is pursuing a different strategy compared to other players on the market. 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