UK banking startup Tandem is taking a 'pay-as-you-grow' approach to its technology backbone, selecting Fiserv's on-demand Agiliti platform to provide the core infrastructure for its forthcoming launch.
Tandem, led by Azimo founder Ricky Knox and Capital One's Matt Cooper, secured a license from the BofE in November, paving the way for it to join the scrum of challengers taking on Britain's high street lenders.
When it launches later this year, the bank will offer current accounts, credit cards, savings, and loans through mobile and web, backed up by a call centre.
Tandem is the second client for Agiliti - a technology platform for challenger banks developed by Fiserv and Metro Bank and Atom founder Anthony Thomson - following the October signing of Manchester-based Think Money.
Built specifically for the UK market, the software-as-a-service platform is designed to enable new players to quickly deliver retail and SME banking products such as current accounts, savings, and loans, via a modular suite of payment and transaction processing components.
Ricky Knox, founder, Tandem Bank, says: “We are in a critical phase for the business as we fine tune our launch plan, ensuring what our customers want is at the forefront. We look to Agiliti from Fiserv to provide a first-class technology platform as we focus on serving up the best user experience possible.”
He says the bank is also working with Fiserv to customise its mobile front-end using the vendor's Mobiliti platform.