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Tandem Bank to enter mortgage market

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  • 17/07/2018
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Tandem Bank to enter mortgage market
Tandem Bank is set to expand its services with a range of mortgage products tailored to individual customers.

 

The lender confirmed to Mortgage Solutions that development of its mortgage proposition was well underway, but said it was unable to give a date on when it would launch or any detail on what products it would offer.

Tandem completed its takeover of Harrods Bank in January, inheriting a £375m mortgage book and more than £400m of deposits. These existing mortgages have not been affected since the takeover.

The Tandem app brings together all of a customers’ accounts allowing them to view everything in one place and giving Tandem the ability to use this financial data to tailor product offerings to a customer’s specific financial situation.

Tandem also said it would add new card products as it reached 250,000 customers across its cashback credit card, fixed term savers and app.

This announcement came just two months after the bank hit the 100,000 customer mark, accelerating its growth ahead of internal targets.

 

The future is personalisation

Ricky Knox, Tandem CEO (pictured), was excited about what the firm could do with personalisation as it started launching new products.

“We’ve now got 250,000 customers and every single one is different,” he said.

“The future of banking is going to be about knowing your customers and offering them products and services that work for them. It’s also where you start saving them a whole lot of hassle and stress, which is why we started Tandem in the first place.”

He added: “Obviously you need great products, that’s a given, but it’s also our vision for a bank that’s got your back that the UK is responding to. It’s one of the reasons we’re outstripping legacy banks when it comes to growth.”

 

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