-    Tunney will lead development of operations and customer service for specialist lender 

Newly launched specialist lender Afin Bank 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, will now oversee the creation of Afin Bank’s customer service and operations, in addition to building the people function for the new bank. 

Afin Bank has been created to support clients who struggle to secure funding from mainstream banks and other specialist lenders. This will include borrowers such as self-employed workers and high-net worth clients, as well as foreign nationals living and working in the UK looking for mortgages, particularly those from Africa. 

The lender, which is backed by African reinsurer WAICA Re to the tune of £60m, received its banking licence Authorisation with Restrictions1 (AwR) in October and aims to fully launch with a range of residential and buy-to-let mortgages next year, as well as a savings proposition.  

Tunney, who was COO of Sharia digital bank Nomo before joining Afin Bank, said it was the appeal of helping under-served customers that drew her to the role. She said: “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.” 

Tunney’s career has included a number of senior strategic and operational roles with major high street banks and lenders, including TSB, Lloyds Banking Group and Cheltenham and Gloucester. 

She will also oversee People and Culture at Afin Bank, which aims to create an inclusive environment for everyone involved with the bank. Jason Oakley, CEO of Afin Bank, explained: “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 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 aims to launch in 20252 offering residential and buy-to-let mortgages to people in England and Wales as well as buy-to-let mortgages for borrowers based in the West African countries of Ghana, Sierra Leone and The Gambia investing in the UK property market.  

The bank will also offer a range of FSCS protected savings products. Its products will be available through an app, intermediaries and partnerships with groups in diaspora communities, such as cultural networks and associations. 

For more information about Afin Bank visit www.afinbank.com and follow it on @AfinBankUK on X and Instagram. 

 ENDS 

Contact Paul Beadle: Email Paul.Beadle@afinbank.com or Mbl 07801 105001 

Notes to editors 

¹ In carrying out the regulated activity of accepting deposits, the aggregate amount of deposits held by the firm at any time may not exceed £50,000. ‘Deposit’ has the meaning given in Article 5(2) of the Financial Services and Markets Act (Regulated Activities) Order 2001.

² Subject to regulatory confirmation.

Afin Bank is a new bank supporting one of the UK’s most under-served but vital and growing communities; people from Africa living and working in the UK. People that are doing important jobs, contributing to society, creating wealth and opportunities.

Banking can be complex, so we’re making it simple. Our mission is to cut out the complicated stuff to deliver simple products and service excellence to make banking effortless.

If you're planning to buy a home or grow your savings, Afin Bank is here for you to achieve your goals. We’re here for you if you’ve moved to the UK and have a passport from certain countries, or if you live in certain countries and wish to invest in the UK property market.*

We provide a simple and secure banking experience through our app to deliver real value that empowers you.

*Subject to acceptance criteria and ID requirements