Digital bank Tandem is creating 100 new jobs in Cardiff in another boost to the city's fintech sector. The challenger bank currently employs 70 in the city where it has had a presence since its acquisition of Allium Money in 2020.
Tandem said its expanded Cardiff operation will serve as a base for its motor finance business and a centre of excellence for its wider lending operations. It is current located in serviced offices on Cathedral Road. However, it is committed to moving to large offices, around 13,000 sq ft, in the city centre at a yet to be disclosed location.
The city is already home to two other challenger banks in Monzo and Starling. Tandem, which currently has more than 270,000 customers, employs 500 staff across the UK.
Susie Aliker, chief executive, of Tandem Bank, said: “This is yet another step Tandem is taking on its mission to be the UK’s greener, digital bank. “Our new Cardiff office is an integral part of the bank’s growth plans, supporting our growing green lending business, and becoming the home for new Tandem motor finance division.”
Supporting the investment Russell Goodway, cabinet member for investment and development at Cardiff Council: “I am delighted Tandem Bank are setting up a new office in Cardiff, creating 100 new jobs on top of the 70 already based here. Their decision to invest further is a clear endorsement of the digital skills base in the city and the business infrastructure.
“Tandem will be joining a growing financial services cluster in Cardiff which includes a wide range of Fintech businesses who have made their home in the capital City and have established Cardiff as one of the UK’s fastest growing fintech centres.”
After acquiring Allium Money, earlier this year Tandem bought consumer lender Oplo. The bank is re-branding all its businesses under the Tandem brand. The newly-enlarged group offers products in savings, mortgages, green lending, personal loans and a motor finance proposition.
Tandem also have offices in Blackpool, Durham, London and Manchester.
The company said it is not receiving financial support from Cardiff Council or the Welsh Government for its expansion which will see the 100 jobs created over the next couple of years.
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