Subject to regulatory approval, founder Ricky Knox will take over as the new CEO of the bank as it revealed Peter would be retiring and stepping down at the end of the month.
Ricky paid tribute to Peter’s time as CEO and praised his deep understanding of the banking market, which has helped Tandem since it secured its banking licence in December 2015.
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“…He has really permitted us to come off a place of deep understanding for what has gone before to think hard about how we can refresh that, how we can improve it and how [together we can] build a bank that delivers both fantastic customer outcomes and safe secure banking.
Ricky Knox has become the new CEO of Tandem Bank
“Tandem is here to redefine the role of a bank, take that a step back and say: ‘How can we help you with this whole problem of your personal finances?’
“How can we take it all the way from thinking about whether you are on the best utility bills [and] analysing all of your outgoings to make sure you’re spending money as efficiently as possible?”
During 2016, Tandem released an early version of its products to its co-founders and looks to launch fully this year.
In May 2016, the bank secured more than £2.1m in crowdfunding through Seedrs, more than double the initial fundraising target.
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