Knowledge Bank was launched in 2014 by Nicola First as a criteria search system that pools the most up-to-date lender criteria on residential mortgages, buy-to-let, equity release, second charges, bridging, commercial loans and self-build.
It has 125,000 pieces of criteria from over 250 lenders on its system currently.
Tan left Dynamo earlier this year after a 100 per cent Connells Group buyout. As a non-executive director Tan will lead the board and develop strategy. He will also drive additional funding for the bank, so it can continue to scale and grow.
Penny Desborough, who was executive assistant to Tan for around 14 years, will also join as non-executive director.
Tan said: “I have always thought very highly of Knowledge Bank, Nicola Firth and her team. They are a true disrupter of the mortgage industry, innovating a system that has transformed the way that mortgage brokers search for criteria and the way that lenders themselves both display and use this information.
“Knowledge Bank has really made its name in the mortgage industry, winning multiple awards for technology and innovation with a proven business model. Knowledge Bank is aligned with how I see the future of the mortgage industry; it has exciting plans to expand its services to offer an exciting suite of products to digitise and further transform the way the mortgage industry works.”
Nicola Firth, chief executive of Knowledge Bank, said: “Innovation has been in our DNA from the very beginning and the time is right for us to scale up and bring our plans for the bigger picture into play and Ying is the perfect partner for us to move forwards with. Ying is an incredibly well-respected figure in the mortgage industry; I’ve watched with admiration what he has built up and the remarkable and authentic way in which he has done this.”
She added: “We are delighted to have Ying and Penny join our board as we enter another exciting period of growth. We look forward to continuing to positively disrupt the market with the same passion and pioneering thought leadership that has revolutionised lending criteria research for both brokers and lenders so far.”