Tandem Group Modern Slavery and Human Trafficking Statement

This statement is issued on behalf of the Tandem Group and its subsidiary companies, the Group consists of:

• Allium Lending Group Limited (Company Registration Number 10028311)
• Allium Money Limited (Company Registration Number 10977963)
• GDFC Assets Limited (Company Registration Number 08272354)
• GDFC Services Plc (Company Registration 08271985)
• Oplo Group Limited (Company Registration Number 05438114)
• Tandem Bank Limited (Company Registration Number 00955491)
• Tandem Home Loans Limited (Company Registration Number 05667257)
• Tandem Money Limited (Company Registration Number 08628614)
• Tandem Motor Finance Limited (Company Registration Number 07213812)
• Tandem Personal Loans Limited (Company Registration Number 08457740)

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Tandem fully supports the objectives of the Modern Slavery Act 2015 and meets the requirements of the Act. Tandem will not engage in any business with a third party which engages in or is believed to engage in any form of modern slavery. This is reinforced by the values embedded throughout our organisation.

It is crucial to us that we operate within a culture promoting equality and ethical working practices. To date, we have had no reports of modern slavery within our organisation or our supply chains.

1. Organisation Structure & Business

Tandem are building the UK’s greener digital bank, with more than 500 people working ‘in tandem’, we’re here to help more people in the UK make greener choices that benefit both their pocket and the planet. We go beyond banking, our mission is to provide tips, tools and personalise recommendations, to make it easier for more people to live a greener lifestyle.

Our staff are largely directly employed from the United Kingdom and are not in any category which is seen to be vulnerable to modern slavery.

Tandem Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

In 2022 Tandem merged with Oplo, a lender which launched in 2009 to provide fairer access to financial product for all the hardworking Britons who have been left behind by traditional high street banks and other lenders. In 2023 Tandem acquired Loop, the UK’s first social network app focused exclusively on helping friends and family to lend and borrow money with each other easily and safely.

Tandem provides a range of retail banking products;

• Greener Motor Finance
• Home Loans
• Greener Home Improvement Loans
• Specialist Mortgages
• Instant Access Saver Accounts
• Fixed Saver Accounts

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Suppliers of services to Tandem are firms based in the UK and internationally that provide goods and services in the following areas:

• Information Technology – software and hardware
• Operational Services
• Professional services such as marketing, legal and financial advice and consultancy.

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Our suppliers are required to provide contractual assurances that their working practices and offices are reviewed and are free from modern slavery globally.

2. Our Policies & Risk Management

Tandem operates in an open and fair manner with all employees. We provide a working environment where employees are treated with respect, dignity and consideration. As a dual regulated Bank, all employees undergo staff vetting prior to commencing employment with us and, depending on their job role and responsibility, at regular interval throughout the course of their employment.  

We conduct regular, anonymous, employee surveys to ensure employees work free from discrimination and harassment and in a safe, diverse and inclusive workplace.

Tandem also operates various practices, procedures and policies to ensure compliance with all human rights laws and UK employment laws. Key policies include the:

• Modern Slavery Policy;
• Procurement and Supplier Risk Policy;
• Conduct Framework (and Conduct Statement)
• Whistleblowing Policy;
• Disciplinary Policy and Procedure;
• Equal Opportunities & Diversity Policy; and

• Risk assessment and due diligence processes

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Retail financial services do not have a high-risk exposure to modern slavery. However, Tandem undertakes due diligence and gives active consideration to all business partners and suppliers to ensure that their business practices and policies do not engage in Modern Slavery and that they both meet the requirements of Modern Slavery legislation and the expectations that the Tandem Group has of its business partners.

Tandem have processes, documented in the modern slavery policy, to identify and report suspicions of modern slavery within Tandem itself and of our third-party providers. These processes are reviewed regularly to ensure the controls in place are adequate.

3. Training & Awareness

We provide bi-annual modern slavery training to employees based on their role and level of responsibility.

4. Commitment & Conclusion

Tandem is committed to working closely with employees and suppliers to confirm and maintain our commitment to the identification and abolition of modern slavery.

The Board has concluded that given the nature of service provided to customers by Tandem and having considered the activities of suppliers of goods and services that there is negligible risk of slavery in its business or supply chain.

This statement is made pursuant to Section 54 of the Modern Slavery Act 2015 and constitutes the Modern Slavery and Human Trafficking Statement for Tandem.

This statement has been approved by the Board of Tandem Bank on 27^th February 2025 and has been signed on its behalf by the CEO.