Strategy, Growth, and Future of Tandem Bank: Can the Challenger Bank make the Most of the Open Banking System?
| Case Code: FINC182 Case Length: 9 Pages Period: 2015-2019 Pub Date: 2021 Teaching Note: Available |
Price: Rs.400 Organization: Tandem Bank Industry: - Countries: United Kingdom Themes: Banks and Banking, Financial Institutions |
Abstract Case Intro 1 Case Intro 2 Excerpts
Tandem - The Rise of a 'Challenger Bank'
The subprime crisis that shook up banks in the European Union as well as in the US from 2008 through 2011, severely impacted people’s trust in the traditional banking system. The crisis decimated some of the most trusted banks in banking history like Lehman Brothers, Merrill Lynch, Bank of America, Wells Fargo, and UBS, to name a few. The fragility of the banks and the vulnerability of the banking system raised big questions on the fundamentals of traditional banking principles and practices. This presented wide scope and opportunity for the emergence of possible alternatives that could address the vulnerabilities in the banking system. The gap in trust and reliability opened the floodgates to new structures and formats that could strengthen the banking system. This was akin to a product – the traditional banking system – reaching its maturity and paving the way for new and alternative solutions.
Regulators all over the world wanted to introduce more competition in the banking sector. In the UK, the regulators were quick to implement this idea and in 2013, they reduced the capital requirements and time to process applications for new banks...
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