Ricky Knox, CEO at Tandem, has claimed that the Bank of England should cut interest rates to boost the economy. This follows the Bank of England’s decision to keep the base rate unchanged at 0.75%. “Consumers and investors are both uncertain about the British economy,” said Ricky. “With a ‘no deal’ still on the table, it’s unlikely that this feeling will go away anytime soon."
Tandem, the digital bank, has hit 500,000 users after one year in operation according to its founder Ricky Knox. Tandem has been adding customers alongside products throughout 2018, since it gained a banking licence and £80 million of capital with the acquisition of Harrods Bank in 2017.