Afin Bank, a digitally-focused specialist lender, has appointed Nicola Tunney, an industry veteran, to lead as chief people and operating officer.
- Tunney brings a wealth of experience from her previous roles in several leading financial institutions.
- The appointment is seen as a strategic move to strengthen Afin Bank’s commitment to serving under-represented clients.
- The bank, backed by WAICA Re, aims to launch fully in 2025, focusing on unique customer segments including self-employed and foreign nationals.
- Tunney’s new role will be instrumental in shaping Afin Bank’s customer service and operational framework.
Afin Bank, a specialist lender with a digital focus, has made a strategic appointment by bringing Nicola Tunney onboard as the chief people and operating officer. This move aligns with the bank’s vision to address the gaps in service available to under-represented client sectors. With a seasoned career at Allica Bank, where she was instrumental in its start-up phase, and as COO at Nomo, Tunney’s experience is expected to be pivotal in driving Afin Bank’s mission forward.
Tunney’s previous engagements include senior roles at TSB, Lloyds Banking Group, and Cheltenham and Gloucester, which provide her with a broad perspective on banking operations. She expressed enthusiasm for the opportunity, stating, “It’s a great opportunity to use my knowledge and experience to build something new and do it right. We want to support our customers in areas where it has been difficult for them to get help before, so they can overcome the barriers that have stopped them from getting a mortgage.” Her focus at Afin Bank will encompass both operational frameworks and the development of a robust customer-centric culture.
Afin Bank, poised for a full launch in 2025, is supported by a significant financial backing of £60 million from African reinsurer WAICA Re. The bank obtained its Authorisation with Restrictions in October, marking a crucial step towards offering its services. Targeted offerings will include residential and buy-to-let mortgages, along with FSCS-protected savings products. The bank is particularly interested in reaching self-employed individuals, high-net-worth clients, and foreign nationals, especially from Africa, who are seeking mortgage solutions in the UK.
The strategic positioning of Afin Bank extends beyond conventional banking methods; it plans to utilise digital platforms and form partnerships with intermediaries and diaspora community groups. This approach aims to connect with potential borrowers from countries like Ghana, Sierra Leone, and The Gambia, facilitating their UK property market investments. CEO Jason Oakley expressed his confidence in Tunney’s contribution, stating that her experience aligns perfectly with the supportive culture being cultivated at the bank.
Nicola Tunney’s appointment marks a significant step in Afin Bank’s journey to become a key player in providing tailored financial solutions to under-represented clients.
