Tandem is purpose led and aims to improve customers’ relationship with money through an innovative approach, intuitive products and services, and has already begun rolling out its offering to its 10,000-strong co-founder network.
Tandem will continue its rollout during 2017 in the UK and will be accessible online, via an app and through a UK call centre.
To cement the collaboration, House of Fraser Group Limited has made an initial commitment to invest up to £35m in Tandem, subject to preconditions being met.
Ricky Knox, Founder and Deputy CEO at Tandem added: “House of Fraser is one of the great loved retail giants, with a customer-centric heritage that aligns closely with Tandem’s mission and values. We’re excited about the opportunity to help their loyal customers with their financial lives.”
Frank Slevin, Chairman of House of Fraser added: “House of Fraser is committed to a transformation of its business over the next five years and this new partnership is just one illustration of how we’ll deliver a meaningfully different set of services to our customers”
About Tandem Bank Tandem was formed in 2014 and is a new type of bank accessible online, via an app and through a UK call centre. We are a good bank aiming to improve people’s relationship with money through an innovative and customer-centric approach, products and services. Our name, “Tandem”, reflects our approach of working together with our customers in partnership to deliver a bank they want and that best fits their needs. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under the registration number 684908. For more information, please visit https://tandem.co.uk/
About Co-Founders Co-Founders are the people helping Tandem build a good bank. The Co-Founders are regularly invited to workshops at Tandem’s office, as well as getting involved in tasks and discussion via a dedicated online hub. Alongside all of these benefits, Co-Founders will be able to attend Life In Tandem, a series of large-scale events. They will hear industry and cultural leaders discuss various topics which matter most to Tandem and our future customers. The Co-Founders have been involved in a multitude of projects already, including naming the bank; branding and product design – and the art of our credit cards.
About House of Fraser UK:
House of Fraser is a department store group with 59 enviable locations across the UK and Ireland. As one of the best known names on the high street, House of Fraser has presented customers with an unrivalled nationwide department store for over 165 years. The Group has annual sales of £1.3bn and employs over 6,000 House of Fraser employees and 11,500 concession staff through over 4 million sqft of selling space. Customers can shop at House of Fraser from http://www.houseoffraser.co.uk.
House of Fraser (UK & Ireland) Limited (formerly Highland Group Holdings Limited) is the parent company of the House of Fraser business in the UK and Ireland. It is 89% owned by House of Fraser Group Limited, which is also the parent company of House of Fraser’s planned operations in China (the remaining 11% interest in House of Fraser (UK & Ireland) Limited is owned by West Coast Capital (HOF CO) Limited). Nanjing Cenbest, a listed company in China is the Group’s ultimate parent company, following the acquisition on 2 September 2014.
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