Kuppa, established in 2022, specialises in providing businesses and consumers with insights into the financial and environmental impact of home improvements, working with banks, energy suppliers, and local authorities to showcase these insights.
Starting in Q1 2024 Tandem’s green hub, which currently lets customers learn and explore greener choices for upgrading their homes, will be overhauled with more specific and personalised recommendations.
Officials from Tandem Bank said that collaborating with Kuppa enhances their commitment by providing UK households with actionable insights to elevate the sustainability of their homes and save money, whilst reducing carbon footprints.
In October 2023, Tandem made new hires in the ESG department to lead on the bank’s environmental, social and governance policies, compliance, and target-setting, in addition to working on the integration of ESG across all of the bank’s products and propositions.
Over 68% of the bank’s existing loan book is focused on supporting green initiatives like home improvement loans for energy efficiency improvements, low-emission motor loans, and EPC discount mortgages.
The bank recently returned to London with a new office in Bloomsbury where some 50 employees will soon work, spread across the organisation’s marketing, treasury, risk, and strategy teams.
In April 2023, Tandem Bank has acquired Loop, a socially-conscious money-sharing app, with the aim of building a greener digital bank. Tandem, focused on promoting environmentally friendly financial practices, plans to integrate Loop's platform into its digital offerings.
Loop, launched in early 2022, facilitates safe lending and borrowing among friends and family, aiming to disrupt the informal money-sharing market and reduce reliance on expensive bank overdraft charges. After the transaction, Loop maintains its independence as an app and brand, while incorporating Tandem's products to expand its range of savings and lending services.
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