Afín Bank welcomes Nicola Tunney as its new Chief People and Operating Officer, marking a strategic move to strengthen its leadership team.
- Tunney’s extensive background spans roles at Allica Bank, TSB, and Lloyds, promising a solid operational framework for Afín’s future.
- Aiming to support under-represented borrowers, Afín Bank plans to launch fully in 2025 with a focus on digital platforms.
- Backed by £60m from WAICA Re, the bank targets self-employed individuals and foreign nationals among its key client segments.
- CEO Jason Oakley underscores Tunney’s experience and cultural fit as vital to Afín Bank’s upcoming product and service development.
Nicola Tunney has been appointed as the Chief People and Operating Officer at Afín Bank, a specialist lender dedicated to assisting under-represented clients. This appointment is a pivotal step in fortifying the bank’s leadership team as it prepares for a full launch in 2025. Tunney, with a remarkable history of leadership roles at renowned institutions such as Allica Bank during its start-up phase, TSB, and Lloyds Banking Group, is expected to significantly boost Afín Bank’s operational capabilities. Her previous role as COO of digital Sharia bank Nomo further highlights her expertise in steering operational frameworks within emerging financial environments.
Tunney expressed her enthusiasm about leveraging her expertise to build Afín Bank’s operational and customer service structures right from the ground up. She emphasised, “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. Afín Bank is a digital bank, but at the heart of what we do is helping people and we want those customer interactions to work really well.”
Afín Bank, which recently obtained its banking licence under Authorisation with Restrictions in October, is bolstered by a £60m investment from WAICA Re, an African reinsurer. The bank is set to offer an array of financial products including residential and buy-to-let mortgages, alongside FSCS-protected savings accounts. The strategic focus is on clients such as self-employed, high-net-worth individuals, and foreign nationals, particularly from African countries, seeking opportunities in the UK’s property market.
The bank’s digital strategy includes building strong relationships through digital platforms and partnerships with intermediaries and diaspora groups. This is aimed at reaching potential borrowers from countries like Ghana, Sierra Leone, and The Gambia, enabling them to invest in the UK property sector. CEO Jason Oakley remarked on the significance of having Tunney onboard, stating, “Not only does Nicola bring a huge wealth of experience to this role, she also represents the kind of supportive culture we are building at Afín Bank for both our customers and our colleagues.”
With Nicola Tunney at the helm of operations, Afín Bank looks forward to establishing itself as a significant player in providing accessible mortgage solutions to diverse client segments.
