Afin Bank, a new specialist lender focused on serving under-represented clients, has appointed Nicola Tunney as its chief people and operating officer.
Tunney, who was previously head of operations at Allica Bank during its start-up phase and COO of digital Sharia bank Nomo, will now oversee Afin Bank’s customer service and operational framework while building its people function.
Tunney brings extensive experience from senior roles at TSB, Lloyds Banking Group, and Cheltenham and Gloucester. She had this to say about the opportunity: “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.
“Afin 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.”
Afin Bank, supported by £60m in backing from African reinsurer WAICA Re, received its banking licence (Authorisation with Restrictions) in October and is expected to launch fully in 2025. The bank will offer residential and buy-to-let mortgages and FSCS-protected savings products, targeting self-employed, high-net-worth individuals, and foreign nationals, especially from Africa, seeking mortgages in the UK.
CEO Jason Oakley added: “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 Afin Bank for both our customers and our colleagues.
“I’m pleased to welcome her onboard and look forward to working with her as we build our products, services, and operations ahead of Afin Bank’s full launch in 2025.”
Afin Bank plans to provide its services through digital platforms, intermediaries, and partnerships with diaspora community groups, further aiming to assist borrowers from countries like Ghana, Sierra Leone, and The Gambia looking to invest in the UK property market.
