U.K. digital lender Tandem Bank Ltd. is considering listing its shares on the stock market over the next three to five years depending on market conditions, The Daily Telegraph reported, citing Matthew Ford, the bank's product and marketing director.
Ford said an IPO would "make sense" as interest in financial technology companies continue to rise, the newspaper wrote Jan. 14. The listing would come after Tandem establishes a customer-centric business, he added.
Tandem recently introduced six new products, including a cashback credit card and savings account, the report noted, adding that as of 2018-end, the bank serves 500,000 clients, well above expectations of 150,000 customers.
Tandem Money Ltd. is the parent of Tandem Bank.