Tandem Bank, the UK-based green challenger bank, has become the latest Women in Finance Charter signatory, backing the government’s ambition to achieve gender balance at all levels across financial services firms.
The Women in Finance Charter, launched by HM Treasury, commits signatories to support the progression of women into senior roles across financial services.
Last year, the EY European Financial Services Boardroom Monitor revealed that, across UK financial services as a whole, women only represented 39 per cent of board directors. However, according to an earlier Findexable Diversity for Growth Report, women only hold around 11 per cent of board seats in fintech.
Recognising the need for drastic change in the fintech sector, Tandem has taken the opportunity to join While Tandem finalises its specific plans to support the Charter, its signature comes alongside four pledges:
- Having a member of the senior executive team responsible for gender diversity and inclusion
- Setting internal targets for gender diversity across senior management
- Publishing its annual progress
- An intention for pay of the senior executive team to be linked to these targets
Tandem represents one of 19 new signatories of the Women in Finance Charter, announced last week. GoCardless, Haatch, Oodle Car Finance and Scottish National Investment Bank are among the other financial firms pledging to make a difference.
Backing diversity and inclusion
Tandem Bank’s signature marks the latest in a string of moves in its transformation to become one bank, with a single established culture since significant acquisitions, such as Oplo in 2022.
Steve McNicholas, chief people officer at Tandem, explained the bank’s decision to back the initiative: “Culture is such an important thing across any business, but Tandem’s transformation has meant it is even more so.
“Diversity and inclusion are at the heart of that. And I couldn’t be prouder of the steps we’re taking to ensure we are leading the way in creating female role models that lead and inspire the next generation of female leaders.
“Signing of the charter marks our commitment to see gender balance across financial services and our work to build a fair, balanced and best place to work in the sector.”
Benefiting customers’ pockets and the planet, Tandem offers greener ways to save, borrow, spend and share. From low-emission motor loans and lending for greener home improvements to EPC discount mortgages and green savings, its products make it easier for more people to choose a greener lifestyle – helping save money, whilst reducing carbon footprints.
