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There's a boom in challenger banks in Europe, with Atom Bank, Mondo, and Starling in the UK, Lunar Way in Denmark and #26 in Germany. Tandem was founded by Ricky Knox (Azimo) and Matt Cooper (co-founder of Capital One) and is the second of these neobanks to get licensed by the Bank of England.
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Tandem Bank is the second digital-only bank to be licensed by the Bank of England this year after Atom Bank, which became the first mobile-only bank to get a licence from the Bank of England in June. Both will be regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
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