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-Convoy Global purchases stake in Tandem Bank

Nov 20, 2018 - Global Banking News

Global Banking News - 20 November 2018

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The deal will see Convoy Technologies, a subsidiary of the firm, purchase an undisclosed stake in Tandem Money, which is the holding company of Tandem Bank. The deal is expected to be completed in December.

The firm is to invest GBP15m for a significant stake in Tandem Bank. The move comes as the firm is looking to apply for a virtual bank licence from the Hong Kong Monetary Authority.

Hong Kong-headquartered Convoy Global Holdings has announced plans to invest in UK's Tandem ...